HB 1047 IN

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Requires a payroll service provider to provide the option to a business client that would allow the business client to hold the business client's funds in a bank account that is: (1) owned by the business client (as opposed to the payroll service provider's bank account); and (2) insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund. Requires a payroll service provider to obtain a performance bond equal to the amount of the business client's total annual estimated payroll taxes.

• Jake Teshka Republican · author

1. Dec 2, 2025 First reading: referred to Committee on Financial Institutions · lower
2. Dec 2, 2025 Authored by Representative Teshka · lower
3. Jan 8, 2026 Representative Andrade added as coauthor · lower