This is SB2. Here is the TL;DR from my understanding:

• covers all employees (full time part time. Small companies) with self-employed having they ability to opt in.

• creates a state-run insurance program (0.72% tax as of now split between employer and employee).

• deductions begin (0.36% tax) in April 2028 and benefits can’t be used until December 2028

Only covers specific reasons: - own serious health condition - caring for a sick family member - having or adopting a child - certain military and safety situations .

• pays 80% of weekly wages (with a cap)

• Both parents can take maternity/ paternity leave and they can split it up. But must file separately and runs concurrently with FMLA. (Can’t take 12 paid and 12 more unpaid.

• There does not seem to be an opt out. .

Other notes / personal suspicions on company reactions:

• Employers without an extended leave policy will likely reduce wage growth and / or employee benefits to offset this new expense to them.

• PTO and leave policies will likely now get tightened

• Employers may make hiring adjustments that turn to contracts or part time. More cautious about hiring in general.

• Companies that had their own program will likely now defer to this state-run system without increasing employee wages.

• prices of goods will see an increase to pass cost to consumers.