§ 60.2-302 Benefit account; requisitions from federal Unemployment Trust Fund
Moneys shall be requisitioned from this Commonwealth’s account in the Unemployment Trust Fund solely for the payment of benefits and in accordance with regulations prescribed by the Commission, except that money credited to this Commonwealth’s account, pursuant to § 903 of the Social Security Act (42 U.S.C. § 1103), shall be used exclusively as provided in § 60.2-305. The Commission shall requisition from the Unemployment Trust Fund such amounts, not exceeding the amount standing to its credit, as it deems necessary for the payment of benefits for a reasonable future period. Upon receipt of such amounts, the same shall be paid into the state treasury to the credit of the benefit account, and shall be used solely to pay the benefits provided for in this title. Any balance of moneys requisitioned from the Unemployment Trust Fund which remains unclaimed or unpaid in the benefit account, including undeliverable payments, after the expiration of the period for which such sums were requisitioned shall either (i) be deducted from estimates for, and may be utilized for the payment of, benefits during succeeding periods, or (ii) in the discretion of the Commission, be paid over to the Secretary of the Treasury of the United States, as provided in § 60.2-301. All benefits shall be paid through public employment offices provided for in this title.
History
The record of this law’s original creation isn’t available online. It has been modified 4 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1960, chapter 54; in 1968, chapter 738; in 1986, chapter 480; in 1993, chapter 249.
Code 1950, § 60-92; 1960, c. 54; 1968, c. 738, § 60.1-108; 1986, c. 480; 1993, c. 249.