Michigan House Bill HB4369

Michigan 2023-2024 Regular Session

• Introduced: 4/11/23
• Refer: 4/11/23

Caption

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.

Impact

The implementation of HB4369 would facilitate improved oversight of the unemployment compensation fund by establishing a regular reporting mechanism. The bill requires the unemployment agency to update the public with the fund's balance monthly, which could enhance accountability to both the state government and citizens. Furthermore, it stipulates that the agency must inform the state budget director and legislative appropriations committees if the fund drops below specified financial thresholds, thereby fostering a proactive approach to budget management.

Summary

House Bill 4369 seeks to amend the Michigan Employment Security Act of 1936 by introducing a new section that mandates the state’s unemployment agency to post the current amount in the unemployment compensation fund on its public website. This measure is intended to promote transparency regarding the financial status of the unemployment fund, ensuring that the public has access to timely and accurate information regarding its balance.

Contention

While the bill’s intent appears to focus on transparency and accountability, discussions around HB4369 may involve concerns regarding the appropriateness of such measures. Some may argue that frequent reporting could lead to unnecessary public scrutiny and politicization of the fund’s balance, potentially impacting budgetary decisions or public confidence in state management of unemployment resources. Debates may also arise regarding the operational feasibility and costs of implementing these new reporting requirements.