On December 19, 2011, Governor Rick Snyder passed legislation that substantially changed Michigan’s Unemployment Insurance program. This has caused many of our readers to ask questions about how these changes will affect them. This post will list some of the most frequently asked questions by our readers.

How will these changes to unemployment insurance policy be paid for?

The additional cost of these changes and the existing balance pending with the federal government for previous shared unemployment programs was repaid through the sale of bonds by the Michigan Finance Authority. On December 28, 2011, State Treasurer Andy Dillon announced the payment of $3.2 billion to the Unemployment Trust Fund. The repayment was financed by the sale of variable rate bonds.