§ 60.2-305. Requisition or use of money credited to Commonwealth inUnemployment Trust Fund.
A. 1. Money credited to the account of this Commonwealth in the UnemploymentTrust Fund by the Secretary of the Treasury of the United States, pursuant to§ 903 of the Social Security Act (42 U.S.C. § 1103), may not be requisitionedfrom this Commonwealth's account or used except for the payment of benefitsand for the payment of expenses incurred for the administration of this title.
2. Such money may be requisitioned, pursuant to § 60.2-302, for the paymentof benefits. Such money may also be requisitioned and used for the payment ofexpenses incurred for the administration of this title but only pursuant to aspecific appropriation by the General Assembly and only if the expenses areincurred and the money requisitioned after the enactment of an appropriationlaw which:
a. Specifies the purpose for which such money is appropriated and the amountappropriated therefor;
b. Limits the period within which such money may be obligated to a periodending not more than two years after the date of the enactment of theappropriation law; and
c. Limits the amount which may be obligated during any twelve-month periodbeginning on July 1 and ending on the next June 30 to an amount which doesnot exceed the amount by which (i) the aggregate of the amount credited tothe account of this Commonwealth, pursuant to § 903 of the Social SecurityAct (42 U.S.C. § 1103), during the same twelve-month period and thethirty-four preceding twelve-month periods, exceeds (ii) the aggregate of theamounts obligated for administration and paid out for benefits and chargedagainst the amounts credited to the account of this Commonwealth pursuant tosuch section during such thirty-five twelve-month periods.
B. Amounts credited to this Commonwealth's account in the Unemployment TrustFund under § 903 of the Social Security Act (42 U.S.C. § 1103) which areobligated for administration or paid out for benefits shall be chargedagainst equivalent amounts which were first credited and which are notalready so charged. However, no amount obligated for administration during atwelve-month period specified in subdivision 2 of subsection A of thissection may be charged against any amount credited during such a twelve-monthperiod earlier than the thirty-fourth preceding such period.
C. Money requisitioned as provided for the payment of expenses ofadministration shall be deposited in the Unemployment CompensationAdministration Fund, but, until expended, shall remain a part of theUnemployment Trust Fund. The Commission shall maintain a separate record ofthe deposit, obligation, expenditure and return of funds so deposited.
(Code 1950, § 60-94.1; 1960, c. 54; 1968, c. 131; 1968, c. 738, § 60.1-111;1970, c. 732; 1972, c. 23; 1986, c. 480.)
§ 60.2-305. Requisition or use of money credited to Commonwealth inUnemployment Trust Fund.
A. 1. Money credited to the account of this Commonwealth in the UnemploymentTrust Fund by the Secretary of the Treasury of the United States, pursuant to§ 903 of the Social Security Act (42 U.S.C. § 1103), may not be requisitionedfrom this Commonwealth's account or used except for the payment of benefitsand for the payment of expenses incurred for the administration of this title.
2. Such money may be requisitioned, pursuant to § 60.2-302, for the paymentof benefits. Such money may also be requisitioned and used for the payment ofexpenses incurred for the administration of this title but only pursuant to aspecific appropriation by the General Assembly and only if the expenses areincurred and the money requisitioned after the enactment of an appropriationlaw which:
a. Specifies the purpose for which such money is appropriated and the amountappropriated therefor;
b. Limits the period within which such money may be obligated to a periodending not more than two years after the date of the enactment of theappropriation law; and
c. Limits the amount which may be obligated during any twelve-month periodbeginning on July 1 and ending on the next June 30 to an amount which doesnot exceed the amount by which (i) the aggregate of the amount credited tothe account of this Commonwealth, pursuant to § 903 of the Social SecurityAct (42 U.S.C. § 1103), during the same twelve-month period and thethirty-four preceding twelve-month periods, exceeds (ii) the aggregate of theamounts obligated for administration and paid out for benefits and chargedagainst the amounts credited to the account of this Commonwealth pursuant tosuch section during such thirty-five twelve-month periods.
B. Amounts credited to this Commonwealth's account in the Unemployment TrustFund under § 903 of the Social Security Act (42 U.S.C. § 1103) which areobligated for administration or paid out for benefits shall be chargedagainst equivalent amounts which were first credited and which are notalready so charged. However, no amount obligated for administration during atwelve-month period specified in subdivision 2 of subsection A of thissection may be charged against any amount credited during such a twelve-monthperiod earlier than the thirty-fourth preceding such period.
C. Money requisitioned as provided for the payment of expenses ofadministration shall be deposited in the Unemployment CompensationAdministration Fund, but, until expended, shall remain a part of theUnemployment Trust Fund. The Commission shall maintain a separate record ofthe deposit, obligation, expenditure and return of funds so deposited.
(Code 1950, § 60-94.1; 1960, c. 54; 1968, c. 131; 1968, c. 738, § 60.1-111;1970, c. 732; 1972, c. 23; 1986, c. 480.)
§ 60.2-305. Requisition or use of money credited to Commonwealth inUnemployment Trust Fund.
A. 1. Money credited to the account of this Commonwealth in the UnemploymentTrust Fund by the Secretary of the Treasury of the United States, pursuant to§ 903 of the Social Security Act (42 U.S.C. § 1103), may not be requisitionedfrom this Commonwealth's account or used except for the payment of benefitsand for the payment of expenses incurred for the administration of this title.
2. Such money may be requisitioned, pursuant to § 60.2-302, for the paymentof benefits. Such money may also be requisitioned and used for the payment ofexpenses incurred for the administration of this title but only pursuant to aspecific appropriation by the General Assembly and only if the expenses areincurred and the money requisitioned after the enactment of an appropriationlaw which:
a. Specifies the purpose for which such money is appropriated and the amountappropriated therefor;
b. Limits the period within which such money may be obligated to a periodending not more than two years after the date of the enactment of theappropriation law; and
c. Limits the amount which may be obligated during any twelve-month periodbeginning on July 1 and ending on the next June 30 to an amount which doesnot exceed the amount by which (i) the aggregate of the amount credited tothe account of this Commonwealth, pursuant to § 903 of the Social SecurityAct (42 U.S.C. § 1103), during the same twelve-month period and thethirty-four preceding twelve-month periods, exceeds (ii) the aggregate of theamounts obligated for administration and paid out for benefits and chargedagainst the amounts credited to the account of this Commonwealth pursuant tosuch section during such thirty-five twelve-month periods.
B. Amounts credited to this Commonwealth's account in the Unemployment TrustFund under § 903 of the Social Security Act (42 U.S.C. § 1103) which areobligated for administration or paid out for benefits shall be chargedagainst equivalent amounts which were first credited and which are notalready so charged. However, no amount obligated for administration during atwelve-month period specified in subdivision 2 of subsection A of thissection may be charged against any amount credited during such a twelve-monthperiod earlier than the thirty-fourth preceding such period.
C. Money requisitioned as provided for the payment of expenses ofadministration shall be deposited in the Unemployment CompensationAdministration Fund, but, until expended, shall remain a part of theUnemployment Trust Fund. The Commission shall maintain a separate record ofthe deposit, obligation, expenditure and return of funds so deposited.
(Code 1950, § 60-94.1; 1960, c. 54; 1968, c. 131; 1968, c. 738, § 60.1-111;1970, c. 732; 1972, c. 23; 1986, c. 480.)
