This first week of the 2023 Kentucky General Assembly session isn’t seeing much floor action. But, both chambers have taken final action on Senate Bill 10. It postpones state registration for 60 professional employer organizations. PEO’s provide human resources services for nearly 15-hundred small and medium businesses employing about 30,000 workers. Kristin Baldwin is with the National Association of Professional Employer Organizations.
“Senate Bill 10 is needed to be passed this week in the first week of session in order to avoid a potential increase in unemployment insurance rates for small businesses across the Commonwealth, which currently partner with professional employer organizations,” said Baldwin.
The amount of increased unemployment-related costs for individual businesses would have varied. Previously approved legislation called for new licensing and registration to be filed by January tenth. The transition process has not been finalized. If finalized this week, that deadline would be pushed back to mid-July of 2024.
