The bill requires the state treasurer to transfer money from the
general fund revenue loss restoration cash fund to the family and medical leave insurance fund for use by the division of family and medical leave insurance (division) created under the "Paid Family and Medical Leave Insurance Act" (act). The money is an advance payment of premiums for state employee coverage that the state is required to pay under the family and medical leave insurance program established by the act. The bill directs the division to credit the transferred money to state employer accounts and to annually continue to credit money to the state employer accounts until such accounts have a zero dollar balance and begin owing quarterly premiums as set forth in the act. The bill also requires the executive director of the department of labor and employment to submit a report concerning the state employer accounts to several state departments and agencies.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)