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

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

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Source file: Laws/federal/codes/united-states-code/title-42/section-1102-transfers-between-federal-unemployment-account-and-employment-security-a--1c2cca76fb.md
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Source location: Title 42, Chapter 7, § 1102; 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.

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

42 U.S.C. § 1105 — Extended unemployment compensation account

**(a) Establishment** There is hereby established in the Unemployment Trust Fund an extended unemployment compensation account. For the purposes provided for in [section 1104(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1104/e&num=0&edition=prelim), such account shall be maintained as a separate book account. **(b) Transfers to account** (1) Except as provided in paragraph (3), the Secretary of the Treasury shall transfer (as of the close of each month) from the employment security administration account to the extended unemployment compensation account established by subsection (a), an amount (determined by such Secretary) equal to 20 percent of the amount by which— (A) the transfers to the employment security administration account pursuant to [section 1101(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1101/b/2&num=0&edition=prelim) during such month, exceed (B) the payments during such month from the employment security administration account pursuant to section 1101(b)(3) and (d) of this title. If for any such month the payments referred to in subparagraph (B) exceed the transfers referred to in subparagraph (A), proper adjustments shall be made in the amounts subsequently transferred. (2) 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 beginning after June 30, 1972, there shall be transferred (as of the beginning of the succeeding fiscal year) to the extended unemployment compensation account the tota

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

42 U.S.C. § 1103 — Amounts transferred to State accounts

**(a) Determination and certification by Secretary of Labor** (1) If as of the close of any fiscal year after the fiscal year ending June 30, 1972, the amount in the extended unemployment compensation account has reached the limit provided in [section 1105(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1105/b/2&num=0&edition=prelim) and the amount in the Federal unemployment account has reached the limit provided in [section 1102(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1102/a&num=0&edition=prelim) and all advances and interest pursuant to [section 1105(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1105/d&num=0&edition=prelim) and [section 1323 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1323&num=0&edition=prelim) have been repaid, and there remains in the employment security administration account any amount over the amount provided in [section 1101(f)(3)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1101/f/3/A&num=0&edition=prelim), such excess amount, except as provided in subsection (b), shall be transferred (as of the beginning of the succeeding fiscal year) to the accounts of the States in the Unemployment Trust Fund. (2) Each State’s share of the funds to be transferred under this subsection as of any October 1— (A) shall be determined by the Secretary of Labor and certified by such Secretary to the Secretary of the Treasury before such date, and (B) shall bear the same ratio to the total amount to be so transferred as— (i) the amount of wages subject to tax under section 3301 of the Internal Revenue Code of

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

42 U.S.C. § 1102 — Transfers between Federal unemployment

Page 2516 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 1102 ment Tax Act in par. (1)(A)(i), struck out provision for separate application of par. (1) in years in which there was both a balance described in sections 3302(c)(2) and 3302(c)(3) of the Federal Unemployment Tax Act, redes- ignated par. (3) as par. (2), and struck out former par. (2) covering the transfer of funds from the employment security administration account to the general fund of the Treasury and to the State account, with respect to which employers paid additional tax, received by rea- son of the reduced credit provisions of section 1400c of this title. Subsec. (e)(2). Pub. L. 91–373, § 303(c), substituted ‘‘equals 40 percent of the amount of the total appro- priation by the Congress out of the employment secu- rity administration account of the preceding fiscal year’’ for ‘‘is $250,000,000’’. Subsec. (f)(2)(A). Pub. L. 91–373, § 303(d)(1), inserted reference to par. (3)(C) of this subsection. Subsec. (f)(3). Pub. L. 91–373, § 303(d)(2), revised provi- sions for the distribution of any excess in the employ- ment security administration account at the end of any fiscal year after June 30, 1972. 1969—Subsec. (c)(3). Pub. L. 91–53, § 3(a), struck out subpar. (A) provisions limiting expenditures for fiscal year ending June 30, 1964, to 95 percent of amount esti- mated by the Secretary of Treasury as the net receipts during such fiscal year under the Federal Unemploy- ment Tax Act, redesignated subpar. (B) provisions as par. (3) without restricting their application to fiscal years ending after June 30, 1964, increased expenditure limitation by unexpended amount retained in the em- ployment security administration account in accord- ance with subsec. (f)(2)(B) of this section, reenacted

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