P - Present
E - Excused
A - Absent
Roll Call
P Dennert
P Wismer
P Juhnke
P Bolin
P Romkema
P Dryden
P White
P Carson, Vice-Chair
P Wink, Chair
OTHERS PRESENT: See Original Minutes
The meeting was called to order by Representative Dean Wink.
SB 152: require that any reduction in the general fund levies of a school district only
account for increases in the taxable valuation of property and to revise the property
tax levies for the general fund of a school district.
Presented by: Senator Larry Rhoden
Proponents: Jason Dilges, Bureau of Finance and Management
MOTION: AMEND SB 152
61-5-24.1. Employers required by this title to pay contributions, except employers that pursuant
to chapter 61-5A reimburse the unemployment compensation trust fund for benefits paid in lieu of
contributions, shall also pay an employer's investment in South Dakota's future fee, hereinafter
"investment fee," on wages as defined by this title. The fee rate for employers not eligible for
experience rating, as defined in § 61-5-20.2, shall be seventy hundredths percent through calendar
year 2006 and fifty-five hundredths percent on and after January 1, 2007. If an employer is eligible
for experience rating, his the employer's reserve ratio shall be determined pursuant to § 61-5-18.14
and his the employer's investment fee rate shall be the rate appearing in column "A" on the same line
on which his the employer's reserve ratio appears in column "B" of the following rate schedules.
| Column "A" |
Column "B"
|
| Investment Fee Rate |
Reserve Ratio
|
| 0.70% | Less than 0.80% |
| 0.60% | 0.80% and Less than 1.00% |
| 0.50% | 1.00% and Less than 1.20% |
| 0.40% | 1.20% and Less than 1.30% |
| 0.30% | 1.30% and Less than 1.40% |
| 0.20% | 1.40% and Less than 1.50% |
| 0.10% | 1.50% and Less than 1.60% |
| 0.00% | 1.60% and Over |
| Column "A" |
Column "B"
|
| Investment Fee Rate |
Reserve Ratio
|
| 0.60% | Less than 1.00% |
| 0.50% | 1.00% and Less than 1.20% |
| 0.40% | 1.20% and Less than 1.30% |
| 0.30% | 1.30% and Less than 1.40% |
| 0.20% | 1.40% and Less than 1.50% |
| 0.10% | 1.50% and Less than 1.60% |
| 0.00% | 1.60% and Over |
| Column "A" |
Column "B"
|
| Investment Fee Rate |
Reserve Ratio
|
| 0.58% | Less than 1.00% |
| 0.50% | 1.00% and Less than 1.20% |
| 0.40% | 1.20% and Less than 1.30% |
| 0.30% | 1.30% and Less than 1.40% |
| 0.20% | 1.40% and Less than 1.50% |
| 0.10% | 1.50% and Less than 1.60% |
| 0.00% | 1.60% and Over |
| Column "A" |
Column "B"
|
| Investment Fee Rate |
Reserve Ratio
|
| 0.56% | Less than 1.00% |
| 0.50% | 1.00% and Less than 1.20% |
| 0.40% | 1.20% and Less than 1.30% |
| 0.30% | 1.30% and Less than 1.40% |
| 0.20% | 1.40% and Less than 1.50% |
| 0.10% | 1.50% and Less than 1.60% |
| 0.00% | 1.60% and Over |
| Column "A" |
Column "B"
|
| Investment Fee Rate |
Reserve Ratio
|
| 0.55% | Less than 1.00% |
| 0.50% | 1.00% and Less than 1.20% |
| 0.40% | 1.20% and Less than 1.30% |
| 0.30% | 1.30% and Less than 1.40% |
| 0.20% | 1.40% and Less than 1.50% |
| 0.10% | 1.50% and Less than 1.60% |
| 0.00% | 1.60% and Over |
| Column "A" |
Column "B"
|
| Investment Fee Rate |
Reserve Ratio
|
| 0.53% | Less than 1.00% |
| 0.50% | 1.00% and Less than 1.20% |
| 0.40% | 1.20% and Less than 1.30% |
| 0.30% | 1.30% and Less than 1.40% |
| 0.20% | 1.40% and Less than 1.50% |
| 0.10% | 1.50% and Less than 1.60% |
| 0.00% | 1.60% and Over |
shall be deposited in the clearing account of the unemployment compensation fund for clearance only
and may not become part of the fund. After clearance, the money derived from such payments, less
refunds made pursuant to the provisions of this title, shall be deposited in the employer's investment
in South Dakota's future special revenue fund as provided for in § 61-5-24.2. Investment fee
payments may not be credited to the employer's experience rating account and may not be deducted
in whole or in part by any employer from the wages of individuals in its employ.
Section 2. Whereas, this Act is necessary for the support of the state government and its existing
public institutions, an emergency is hereby declared to exist, and this Act shall be in full force and
effect from and after its passage and approval."
Lisa Shafer