Public employers can offer a one-time payout of accrued sick and annual leave to employees for home purchases.
The bill creates a program allowing public employers to provide a one-time payout of accrued sick and annual leave to employees for purchasing a primary residence. The payout is separate from other leave balances and cannot be used for terminal leave or other leave conversion programs. The payout must be used for allowable home purchase costs at closing, and if the transaction does not close, the funds are returned to the employer. The Department of Management Services will adopt rules to implement this program.
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- Core Provisions
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- Legal Framework
- Critical Issues
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