A bill to repay Minnesota’s federal Unemployment Insurance Trust Fund passed the Senate Monday and it will now travel to the House for consideration.
The bill, SF 2677, appropriates $2.3 billion from the state fiscal recovery federal fund and $408.5 million from the fiscal year 2022 general fund to the commissioner of employment and economic development.
The commissioner would repay the federal government outstanding loans and accrued interest within 10 days of the bill’s enactment. For the 2022 and 2023 calendar years, the base tax rate would be one-tenth of one percent.
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