Solving the dreaded MQ_ERROR_CORRUPTED_SECURITY_DATA (0xC00E0030) MSMQ error

I recently started getting a the error MQ_ERROR_CORRUPTED_SECURITY_DATA (0xC00E0030) when trying to execute tests on my development box while publishing to MSMQ queues. As indicated by the error, the cause was corrupted security data. I had recently changed my development machine from one directory over to another. Going into the MSMQ Server properties in compmgmt.msc (Computer Management) and clearing out all the certifticates for my user, renewing them and reregistering the certificates with Active Directory fixed the issue.