What states owe in unemployment loans

When it comes to owing the federal government for loans used to pay state unemployment claims, Missouri is certainly not alone.

My story yesterday explained how some business groups would like the state to issue bonds to repay these loans in order to preserve the Federal Unemployment Tax Act (FUTA) credits Missouri businesses receive. Here's a link to that story: http://www.semissourian.com/story/1713852.html

States have borrowed $46 billion from the federal government to pay their unemployment claims.

When states carry these loans for more than two years, the federal government starts taking away tax credits as a way to force states to pay back the loans. Three states have already had their FUTA tax credits reduced. Twenty-one more states, including Missouri, are expected to lose tax credits in 2011.

Here's a look at what other states owe, from the U.S. Department of Labor.

State Unemployment Trust Fund Loans

* Outstanding Loans from the Federal Unemployment Account.

Balances as of March 24, 2011 are:

Alabama $255,284,123.63

Arizona $320,008,329.30

Arkansas $347,984,337.47

California $10,531,057,779.29

Colorado $563,234,548.71

Connecticut $687,693,179.62

Delaware $56,638,867.88

Florida $2,219,300,000.00

Georgia $674,000,000.00

Hawaii $44,348,660.63

Idaho $202,401,700.22

Illinois $2,896,026,151.84

Indiana $2,152,100,880.27

Kansas $150,291,136.57

Kentucky $923,000,000.00

Massachusetts $296,752,417.92

Michigan $3,957,553,657.91

Minnesota $712,872,315.94

Missouri $850,826,675.47

Nevada $724,091,843.42

New Hampshire $17,992,519.13

New Jersey $1,963,484,563.22

New York $3,713,847,752.97

North Carolina $2,705,901,772.74

Ohio $2,523,477,131.00

Pennsylvania $3,542,909,136.11

Rhode Island $250,719,973.16

South Carolina $969,197,870.21

Texas $53,921,395.55

Vermont $67,575,383.31

Virgin Islands $19,785,251.63

Virginia $455,838,000.00

Wisconsin $1,640,108,968.65

Total $46,490,226,323.77