Bond sale aimed at helping CO jobless insurance
DENVER (AP) — Democratic Gov. John Hickenlooper and Republican state Treasurer Walker Stapleton say a bond sale is expected to lower the unemployment costs of Colorado businesses and help the state's unemployment insurance system meet its financial obligations.
Hickenlooper and Stapleton announced Monday that the bond sale will eliminate additional solvency surcharges that Colorado employers have paid since 2004 and that employers will see savings starting next year of up to $120 per worker.
State employers contribute to the Unemployment Insurance Trust Fund. It has a negative balance of more than $600 million after the recessions of 2002 and 2008.
The bond issue last week totaling $640 million was executed through the Colorado Housing and Finance Authority. The governor's office says businesses will repay the bonds over time.
