"This debt's already out there," Biggs said Tuesday. "This is refinance, (and) we'll save some money."Because of how the federal loans are structured, if the loan balance is repaid by Sept. 30, the interest is waived, Darmer said. The state expects to save about $5.5 million by issuing the new bonds, and employers will avoid a second $21 per employee bump in their unemployment insurance rates.
Ariz. Bill Refinances Unemployment Insurance Debt
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