Gov. John Hickenlooper signed legislation today that restructures the way Colorado's Unemployment Insurance Trust Fund is financed. The bill, HB 1288, makes a number of both short- and long-term fixes that will ensure the trust fund returns to solvency sooner, maintains solvency well into the future and does so in a way that meets the needs of businesses and workers.
Emergency unemployment benefits will expire unless Congress renews them by Nov. 30.
The reason is that the Unemployment Compensation Act of 2010, which provides an additional 53 weeks of federal benefits to eligible workers who exhaust their 26 weeks of benefits from the regular state-funded unemployment compensation program, will end.
A Tribune columnist has posed the question: Would you share your hours with co-workers to avoid layoffs?
The question is relevant because Gov. Bill Ritter recently signed into law a work-share bill. Probably because the law is brand-new to Colorado, questions have been raised. We'd like to provide some answers.
Work-share is a voluntary program that companies can use to weather short-term business declines.
Contact: Kathy White, Colorado Fiscal Policy Institute, 720-252-9607 Lorena Garcia, 9to5, 303-819-2370 Joe Watt, The Bell Policy Center, 303-297-0456
Thousands of Colorado families exhausting jobless benefits *** Bell Policy Center, Colorado Fiscal Policy Institute and 9to5 Colorado urge Congress to extend program *** Stimulus benefits providing major boost to Colorado's economy
Out-of-work Coloradans eligible for a 20-week extension in unemployment benefits will have to wait until the end of August to get paid, even though a new law providing those benefits took effect July 1, state officials said Tuesday.
By August, between 5,000 and 6,000 people will be due money, said Steve Fowler, director of unemployment insurance at the Colorado Department of Labor and Employment.
Those who qualify for the extension will get payments retroactive to July 1.
Email to supporters: In the depths of one of the worst economic downturns in our history, unemployed Coloradans will receive a major boost through legislation that modernizes, reforms and strengthens Colorado's Unemployment Insurance System. By adopting Senate Bill 247, Colorado is positioned to receive more than $127 million in federal stimulus funds.
We got another dose of bad budget news on Tuesday (1/27). There will be significant cuts this year and next. As lawmakers move forward, we offer some principles we think should serve as guideposts. We will be communicating them each and every chance we get to talk to lawmakers, our allies, the media and the general public.