MI SB0401

Modifies Michigan's unemployment compensation fund structure by amending the Michigan Employment Security Act to clarify credits and charges to the nonchargeable benefits account.

Credits the nonchargeable benefits account with net earnings on fund investments, employer positive balances upon separation from the act, federal advances under Social Security Act sections 903 and 1201, and recovered overpaid benefits.

Charges the nonchargeable benefits account with employer negative balances upon separation, training benefits not reimbursable by federal government, federal repayment obligations, and certain improperly paid benefits.

Authorizes appropriation from the nonchargeable benefits account to the state labor bureau for administrative purposes related to unemployment compensation when federal grants are unavailable or insufficient, with a 2-year expiration and carryover of unused balances.

Replaces outdated language throughout the section, changing "which" to "that" and "U.S.C." to "USC" for consistency.