MI HB4668

Amends the unemployment compensation fund structure to clarify credits and debits to the nonchargeable benefits account, including net earnings on fund investments, employer contributions, federal advances, and recovered improper benefit payments.

Establishes procedures for transferring positive and negative balances between employer experience accounts and the nonchargeable benefits account when employers cease or resume subject status under the act.

Allows employers who become subject to the act again within 6 years to apply within 60 days to have previously transferred positive balances credited back to their new experience account, adjusted for subsequent debits and credits.

Authorizes appropriations from the nonchargeable benefits account for bureau administration when federal grants under Title 3 of the Social Security Act and the Wagner-Peyser Act are unavailable or insufficient, with expiration not more than 2 years after enactment.

Takes effect immediately upon approval by the Governor on April 13, 2009.