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Senate approves revenue-neutral shift to fund unemployment program operations
Summary
The South Dakota Senate passed Senate Bill 26, which reduces employer contribution rates to the Unemployment Insurance Trust Fund while increasing the program's administrative fee by an equal amount to cover operations; sponsors said the change preserves federal tax credits and avoids staff cuts.
Senators passed Senate Bill 26 on a two-thirds vote after sponsor remarks that the measure is revenue neutral and intended to sustain the state reemployment assistance program's operations.
The bill lowers employer taxes that fund benefit claims by $3 million and raises an administrative fee charged to employers by $3 million to cover program operations. Senator Vilhauer, speaking as sponsor, said funds deposited to the Unemployment Insurance Trust Fund may…
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