Colorado Revised Statutes Title 8. Labor and Industry § 8-77-109. Employment support fund--employment and training technology fund--created--uses--repeal

(2)(a)(I)(A) Except as set forth in subsection (2)(a)(II) of this section and except as provided in subsection (2)(a)(I)(B) of this section, the state treasurer shall credit the money collected pursuant to this section to the employment support fund created in subsection (1) of this section.

(B) To the extent allowed by the United States department of labor employment and training administration, the state treasurer shall credit nineteen percent of each employer's annual support surcharge rate determined pursuant to section 8-76-102.5(3)(a)(IV) to the benefit recovery fund, up to a maximum of fifteen million dollars each year.

(II)(A) At the end of the 2023-24 state fiscal year and each state fiscal year thereafter, the state treasurer shall credit any money collected pursuant to this section that would cause the balance in the employment support fund to exceed seven million dollars, as adjusted annually for the United States department of labor's bureau of labor statistics consumer price index for Denver-Aurora-Lakewood or its successor index, excluding gifts, grants, or donations, to the employment and training technology fund created in subsection (2)(a.9)(II)(A) of this section. If the employment and training technology fund has reached the maximum allowable balance pursuant to subsection (2)(a.9)(II)(A) of this section, the treasurer shall instead credit the money to the workforce development fund created in section 8-83-107(4).

(B) Repealed by Laws 2024, Ch. 318 (H.B. 24-1409), § 3, eff. June 15, 2024.

(C) Any amount credited to the unemployment compensation fund pursuant to this subsection (2)(a)(II) is not included in the calculation of an employer's annual experience rate.

(A) To be used to offset funding deficits for program administration, including information technology initiatives, under the provisions of articles 70 to 83 of this title 8 and to further support programs to strengthen unemployment fund solvency; and

(B) To fund labor standards, labor relations, and the Colorado works grievance procedure under the provisions of articles 1 to 6, 9, 10, 12, and 13 of this title 8 and section 26-2-716(3)(b).

(II)(A) The employment and training technology fund, referred to in this subsection (2)(a.9) as the “fund”, is created in the state treasury. Notwithstanding any provision of this subsection (2) to the contrary, the state treasurer shall credit thirty-two percent of each employer's annual support surcharge rate under section 8-76-102.5(3)(a)(IV) to the employment and training technology fund. On and after April 27, 2021, and on or before June 30, 2023, if cumulative revenue to the employment and training technology fund equals thirty-one million dollars, less any money transferred to the unemployment compensation fund, no additional money shall be credited to the employment and training technology fund but instead shall be allocated to the unemployment compensation fund. On and after July 1, 2023, any amount collected in a fiscal year in excess of thirteen million two hundred thousand dollars under this subsection (2)(a.9)(II), as adjusted annually for the United States department of labor's bureau of labor statistics consumer price index for Denver-Aurora-Lakewood or its successor index, excluding gifts, grants, or donations, shall be credited to the fund and then credited to the unemployment compensation fund. Money in the fund shall be used for employment and training automation initiatives established by the director of the division. Money in the fund is subject to annual appropriation by the general assembly for the purposes of this subsection (2)(a.9) and shall not revert to the general fund or any other fund at the end of any fiscal year. The money in the fund is exempt from section 24-75-402. At any time, the money in the employment and training technology fund may be appropriated by the general assembly to the unemployment compensation fund or allocated to the unemployment compensation fund at the discretion of the executive director of the department of labor and employment.

(B) Repealed by Laws 2021, Ch. 62 (S.B. 21-218), § 1, eff. Dec. 31, 2021.

(C) This subsection (2)(a.9) is repealed, effective June 30, 2031.