MI HB5572

Replaces "career development" with "licensing and regulatory affairs" as the department certifying Michigan's seasonally adjusted unemployment rate.

Allows legislature to appropriate funds when seasonally adjusted unemployment reaches 8% or higher: 2.5% of fund balance for 8.0-11.9% unemployment and 5.0% of fund balance for 12.0% or higher unemployment.

Expands eligible uses of appropriated funds to include capital outlay, public works, public service jobs, refundable investment or employment tax credits, and any other employment-related countercyclical purposes.

Appropriates $40,000,000 from the fund to the Michigan state parks endowment fund, effective only after proceeds from the accident fund sale are transferred as provided in former section 701a of the worker's disability compensation act.