New Law Cuts Redundant Record-Keeping Requirements for More Than 120,000 Minnesota Businesses
Governor Dayton signs Unsession measure to cut Unemployment Insurance record requirements in half
ST. PAUL, MN – Governor Mark Dayton just gave Minnesota businesses the go-ahead to do some spring cleaning. By signing a key Unsession measure into law today, Governor Dayton cut in half the time Minnesota businesses are required to keep Unemployment Insurance tax records on file – reducing clutter and saving time and space for more than 120,000 employers statewide.
Previously, all Minnesota businesses were required to keep two sets of records for Unemployment Insurance taxes paid for each employee, for a period of eight years. The new state law (Chapter 251, HF 2949), cuts that requirement in half, requiring that businesses only keep these records for a period of four years.
“Like many of the statutes we are eliminating during the Unsession, this law defied common sense,” said Governor Dayton. “Forcing businesses to keep multiple sets of records for nearly a decade did nothing but create more clutter. This Unsession measure, and more than 1,000 others, will help improve the lives and businesses of Minnesotans.”
The new law signed by Governor Dayton today adopts the recommendations of the Unemployment Insurance Advisory Council. It was one of more than 1,000 Unsession ideas the Governor proposed to the Legislature in early March. This year’s Unsession effort has been devoted to eliminating outdated laws, reforming state government operations, and making government easier to understand for all Minnesotans. Thus far, 922 Unsession provisions have become law, and more Unsession bills are expected to reach the Governor’s desk in the final days of the legislative session.
“Governor Dayton has charged state government agencies to roll out the red carpet for companies in Minnesota, not bring out the red tape,” said DEED Commissioner Katie Clark Sieben. “By reducing Unemployment Insurance paperwork mandates in Minnesota, we are eliminating unnecessary burdens for our businesses and allowing them to focus on what they do best: growing their businesses, adding jobs, and helping our state’s economy continue to thrive.”
These new reforms garnered broad bipartisan support in the Legislature, passing both the House and the Senate unanimously. The bill was authored by Representative John Persell and Senator Foung Hawj.
Employers Will See Real Benefits
One Minnesota business that will benefit from this new law is Thor Construction of Fridley, Minnesota. Reducing redundant record-keeping requirements will help companies like Thor eliminate clutter, and free up space for better use.
“This year, Governor Dayton proposed legislation that will cut in half the time my business is required to save and store Unemployment Insurance records for my employees,” said Ravi Norman, CEO of Thor Construction. “We are really excited, because the proposed changes from the Governor will allow us to have a reduction in storage space. It certainly means I will have more usable space for the most important assets in my business, which is my people.”
Watch this video to learn more about how these reforms are saving time and hassle for business owners like Ravi Norman of Thor Construction.