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 ap- plication 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) deter- mines 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 ex- cess. (Aug. 14, 1935, ch. 531, title IX, § 910, as added Pub. L. 102–318, title V, § 531(c), July 3, 1992, 106 Stat. 316.) Editorial Notes PRIOR PROVISIONS A prior section 1110, act Aug. 14, 1935, ch. 531, title IX, § 910, 49 Stat. 644, related to conditions of additional credit allowance. For further details, see Prior Law note set out preceding section 1101 of this title. § 1111. Data exchange standardization for im- proved interoperability (a) Data exchange standards (1) The Secretary of Labor, in consultation with an interagency work group which shall be established by the Office of Management and Budget, and considering State and employer per- spectives, shall, by rule, designate a data ex- change standard for any category of information required under subchapter III, subchapter XII, or this subchapter. (2) Data exchange standards designated under paragraph (1) shall, to the extent practicable, be nonproprietary and interoperable. (3) In designating data exchange standards under this subsection, the Secretary of Labor shall, to the extent practicable, incorporate— (A) interoperable standards developed and maintained by an international voluntary con- sensus standards body, as defined by the Office of Management and Budget, such as the Inter- national Organization for Standardization; (B) interoperable standards developed and maintained by intergovernmental partner- ships, such as the National Information Ex- change Model; and (C) interoperable standards developed and maintained by Federal entities with authority over contracting and financial assistance, such as the Federal Acquisition Regulations Council. (b) Data exchange standards for reporting (1) The Secretary of Labor, in consultation with an interagency work group established by the Office of Management and Budget, and con- sidering State and employer perspectives, shall, by rule, designate data exchange standards to govern the reporting required under subchapter III, subchapter XII, or this subchapter. (2) The data exchange standards required by paragraph (1) shall, to the extent practicable— (A) incorporate a widely accepted, non- proprietary, searchable, computer-readable format; (B) be consistent with and implement appli- cable accounting principles; and (C) be capable of being continually upgraded as necessary. (3) In designating reporting standards under this subsection, the Secretary of Labor shall, to the extent practicable, incorporate existing non- proprietary standards, such as the eXtensible Markup Language. (Aug. 14, 1935, ch. 531, title IX, § 911, as added Pub. L. 112–96, title II, § 2104(a), Feb. 22, 2012, 126 Stat. 161.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE; REGULATIONS Pub. L. 112–96, title II, § 2104(b), Feb. 22, 2012, 126 Stat. 162, provided that: ‘‘(1) DATA EXCHANGE STANDARDS.—The Secretary of Labor shall issue a proposed rule under section 911(a)(1) of the Social Security Act [42 U.S.C. 1111(a)(1)] (as added by subsection (a)) within 12 months after the date of the enactment of this section [Feb. 22, 2012], and