Bill Text: MI HB5550 | 2021-2022 | 101st Legislature | Engrossed
Bill Title: Employment security: funds; amount of money in the unemployment compensation fund; require the unemployment agency to post on its public website. Amends 1936 (Ex Sess) PA 1 (MCL 421.1 - 421.75) by adding sec. 10b.
Spectrum: Partisan Bill (Republican 9-0)
Status: (Engrossed - Dead) 2022-01-27 - Referred To Committee On Economic And Small Business Development [HB5550 Detail]
Download: Michigan-2021-HB5550-Engrossed.html
Substitute For
HOUSE BILL NO. 5550
A bill to amend 1936 (Ex Sess) PA 1, entitled
"Michigan employment security act,"
(MCL 421.1 to 421.75) by adding section 10b.
the people of the state of michigan enact:
Sec. 10b. (1) The unemployment agency shall post and keep posted on its public website the amount of money in the unemployment compensation fund. The unemployment agency shall update the amount each month to reflect the then current amount.
(2) The unemployment agency shall notify the state budget director and the senate and house of representatives standing committees on appropriations if either of the following occurs:
(a) The amount of money in the unemployment compensation fund changes from being greater than or equal to $2,500,000,000.00 to being less than $2,500,000,000.00.
(b) The amount of money in the unemployment compensation fund changes from being greater than or equal to $500,000,000.00 to being less than $500,000,000.00.
