MI SB0538

Amends the Michigan Employment Security Act to modify Section 10 regarding the administration and contingent funds for unemployment benefits.

Transfers $10,000,000 from the contingent fund to the general fund for the fiscal year ending September 30, 2017 only.

Reserves funds in the contingent fund to compensate claimants who were wrongly identified as committing fraud through computer-based determinations made between January 1, 2013 and December 31, 2015, including repayment of benefits, interest at 1% per month, and out-of-pocket expenses.

Authorizes the unemployment agency to pay for credit monitoring and repair services for claimants whose credit scores were damaged by erroneous fraud determinations.

Prohibits the unemployment agency from using contingent fund money for other purposes until all compensation payments under the bill's provisions have been completed or conditions have been met.