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42 U.S.C. § 1110 — Borrowing between Federal accounts

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1110 — Borrowing between Federal accounts

**(a) In general** Whenever the Secretary of the Treasury (after consultation with the Secretary of Labor) determines that— (1) the amount in the employment security administration account, Federal unemployment account, or extended unemployment compensation account, is insufficient to meet the anticipated payments from the account, (2) such insufficiency may cause such account to borrow from the general fund of the Treasury, and (3) the amount in any other such account exceeds the amount necessary to meet the anticipated payments from such other account, the Secretary shall transfer to the account referred to in paragraph (1) from the account referred to 11 So in original. Probably should be “to in”. paragraph (3) an amount equal to the insufficiency determined under paragraph (1) (or, if less, the excess determined under paragraph (3)). **(b) Treatment of advance** Any amount transferred under subsection (a)— (1) shall be treated as a noninterest-bearing repayable advance, and (2) shall not be considered in computing the amount in any account for purposes of the application of sections 1101(f)(2), 1102(b), and 1105(b) of this title. **(c) Repayment** Whenever the Secretary of the Treasury (after consultation with the Secretary of Labor) determines that the amount in the account to which an advance is made under subsection (a) exceeds the amount necessary to meet the anticipated payments from the account, the Secretary shall transfer from the account to the account from which the advance was made an amount equal to the lesser of the amount so advanced or such excess.

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Source file: Laws/federal/codes/united-states-code/title-42/section-1110-borrowing-between-federal-accounts--e27110cb36.md
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Source location: Title 42, Chapter 7, § 1110; chapter-007-social-security.md

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1101 — Employment security administration account

**(a) Establishment** There is hereby established in the Unemployment Trust Fund an employment security administration account. **(b) Amount credited to Account; transfer of funds; adjustments; repayment of internal revenue refunds** (1) There is hereby appropriated to the Unemployment Trust Fund for credit to the employment security administration account, out of any moneys in the Treasury not otherwise appropriated, for the fiscal year ending June 30, 1961, and for each fiscal year thereafter, an amount equal to 100 per centum of the tax (including interest, penalties, and additions to the tax) received during the fiscal year under the Federal Unemployment Tax Act [[26 U.S.C. 3301](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section3301&num=0&edition=prelim) et seq.] and covered into the Treasury. (2) The amount appropriated by paragraph (1) shall be transferred at least monthly from the general fund of the Treasury to the Unemployment Trust Fund and credited to the employment security administration account. Each such transfer shall be based on estimates made by the Secretary of the Treasury of the amounts received in the Treasury. Proper adjustments shall be made in the amounts subsequently transferred, to the extent prior estimates (including estimates for the fiscal year ending June 30, 1960) were in excess of or were less than the amounts required to be transferred. (3) The Secretary of the Treasury is directed to pay from time to time from the employment security administration account into the Treasury, as repayments to the account for refunding internal revenue collections, amounts equal to all refunds made after June 30, 1960, of amounts received as tax under the Federal Unemployment Tax Act [[26 U.S.C. 3301](https://uscode.house.

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1101

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 1 — Tax imposed

**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of— (1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and (2) every surviving spouse (as defined in section 2(a)), a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000. **(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000. **(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1102 — Transfers between Federal unemployment account and employment security administration account

**(a) Determination of excess; amount transferred** Whenever the Secretary of the Treasury determines pursuant to [section 1101(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1101/f&num=0&edition=prelim) that there is an excess in the employment security administration account as of the close of any fiscal year and the entire amount of such excess is not retained in the employment security administration account or transferred to the extended unemployment compensation account as provided in [section 1101(f)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1101/f/3&num=0&edition=prelim), there shall be transferred (as of the beginning of the succeeding fiscal year) to the Federal unemployment account the balance of such excess or so much thereof as is required to increase the amount in the Federal unemployment account to whichever of the following is the greater: (1) $550 million, or (2) the amount (determined by the Secretary of Labor and certified by him to the Secretary of the Treasury) equal to 0.5 percent of the total wages subject (determined without any limitation on amount) to contributions under all State unemployment compensation laws for the calendar year ending during the fiscal year for which the excess is determined. **(b) Unemployment account excesses** The amount, if any, by which the amount in the Federal unemployment account as of the close of any fiscal year exceeds the greater of the amounts specified in paragraphs (1) and (2) of subsection (a) shall be transferred to the employment security administration account as of the close of such fiscal year. **(c) Report to Congress** Whenever the Secretary of Labor has reason to believe that in the next fiscal yea

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1102

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1110 — Borrowing between Federal accounts

Page 2531 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 1111 1 So in original. Probably should be ‘‘to in’’. pensation Account which shall be used for the purposes specified in section 8509 of title 5. For the purposes provided for in section 1104(e) of this title, such account shall be maintained as a separate book account. (Aug. 14, 1935, ch. 531, title IX, § 909, as added Pub. L. 96–499, title X, § 1023(a), Dec. 5, 1980, 94 Stat. 2657.) Editorial Notes PRIOR PROVISIONS A prior section 1109, act Aug. 14, 1935, ch. 531, title IX, § 909, 49 Stat. 643, related to an additional credit against tax. For further details, see Prior Law note set out pre- ceding section 1101 of this title. § 1110. Borrowing between Federal accounts (a) In general Whenever the Secretary of the Treasury (after consultation with the Secretary of Labor) deter- mines that— (1) the amount in the employment security administration account, Federal unemploy- ment account, or extended unemployment compensation account, is insufficient to meet the anticipated payments from the account, (2) such insufficiency may cause such ac- count to borrow from the general fund of the Treasury, and (3) the amount in any other such account ex- ceeds the amount necessary to meet the an- ticipated payments from such other account, the Secretary shall transfer to the account re- ferred to in paragraph (1) from the account re- ferred to 1 paragraph (3) an amount equal to the insufficiency determined under paragraph (1) (or, if less, the excess determined under para- graph (3)). (b) Treatment of advance Any amount transferred under subsection (a)— (1) shall be treated as a noninterest-bearing repayable advance, and (2) shall not be considered in computing the amount in any account for purposes of the

Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 1110

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