Paid Family Medical Leave Premium Reduction

The bill reduces the premium paid by employers for the state's paid family and medical leave program, starting January 1, 2023, through June 30, 2023, from nine-tenths of 1% of wages per employee to eighty-one hundredths of 1% of wages per employee. The bill requires the state treasurer to transfer $57.5 million from the general fund to the family and medical leave insurance fund. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)