My pay was cut in half so I quit. Do I receive up unemployment comp?

I have an unemployment question. My fiance has worked for a small business for 14 yrs. They have decided to reduce expenses by "offering" him a job at half the pay he's receiving now. This is the exact same job he is doing now. He has a "contract" which was written a year ago specifying hours, wage, holidays,etc., but this doesn't give any expiration date such as year to year, or what would happen in a situation such as this.

My question is, if he refuses to accept this "offer" will that be seen as quitting his job & therefore making him ineligible for unemployment? Or would it be "good cause" to refuse the job?

I see this as the employer's way of getting out of paying unemployment since they are officially offering him a job. Who do I turn to or where do I look for the laws regarding this? Any help would be greatly appreciated.