Bill to support small businesses
I introduced a bill today to support small businesses by making sure their Unemployment Insurance (UI) taxes are not increased in order to repay the current deficit in the UI Trust Fund. This legislation would require the UI Trust Fund to be repaid with federal funds from the American Rescue Plan, if the debt is not forgiven.
The UI Trust fund is currently more than $1.3 billion in debt (it fluctuates as payments and benefits come in and out). This debt to the federal government will either eventually be forgiven (as was done after the financial crisis) or will need to be repaid. Repayment is done through a UI tax increase on employers levied by the Commissioner of the Dept. of Employment & Economic Development (DEED).
The bill requires that if the debt is not forgiven, it must be repaid with the first $2 billion of the American Rescue Plan money that comes to the state. Basically, this will use up a large part of the discretionary $2.6 billion the Governor will otherwise to spend from this ARP money.
With at least $5 billion coming to Minnesota from the federal government, and a $1.6 billion surplus, we must act to support our small businesses. They have suffered so much over the past year. They should not have to repay the UI Trust Fund through a tax increase when they are trying to recover from the covid-related closures. Let's give them the reassurance that their UI taxes will not be raised to repay the UI Trust Fund.
Amendment for Sole Proprietors Working from Home
During the floor debate tonight on the State Government Finance & Veterans bill, I offered an amendment that would allow sole proprietors who work from home to request that their home address not be listed on the Secretary of State’s website for business entity registrations.
I authored this language as a free-standing bill last session, and again this year (HF 276), but had never been able to get a hearing for it. Currently, every business has to register with the Secretary of State’s Office and that business’ address is listed on the SOS’s website. The amendment would allow sole proprietors, whose work address is also their home address, to request that their home address not be listed on the website. The address would still be classified as “public” and could be requested by anyone, but it would no longer be required to be listed on the website, if the business owner requests it not be displayed.
I was pleased that the Chair of the Committee, Rep. Michael Nelson, accepted my amendment as a “friendly amendment” and it passed with an unanimous voice vote.
Helpful Links
Career Pathways for Women Webinar: April is Technology Workforce Month in Minnesota. The SciTech Internship Program is a project of the Minnesota Technology Association. They are hosting a webinar called Career Pathways for Women in Tech on April 22 at 11 AM. Those who are interested in learning more about careers in tech should register for the free virtual event here.
RentHelpMN: If you or someone you know is need of assistance paying rent or utility bills, RentHelpMN provides many resources for those in need. Find out how they can help here.
Grad party planning? Safety guidance here: Current guidance for no more than 50 people at an outdoor social gathering remains in place. If you are hosting an open-house-style graduation party, the relevant limit is that the total number of people attending at a given time should not exceed 50. Additional guidance on social gatherings is available at stay.mn.gov.
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