                                 CODE OF VIRGINIA

REQUISITION OR USE OF MONEY CREDITED TO COMMONWEALTH IN UNEMPLOYMENT TRUST FUND
(§ 60.2-305)

A. 1. Money credited to the account of this Commonwealth in the Unemployment
Trust 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 requisitioned
from this Commonwealth&#8217;s account or used except for the payment of
benefits and for the payment of expenses incurred for the administration of this
title.

   2. Such money may be requisitioned, pursuant to &#xA7; 60.2-302, for the
   payment of benefits. Such money may also be requisitioned and used for the
   payment of expenses incurred for the administration of this title but only
   pursuant to a specific appropriation by the General Assembly and only if the
   expenses are incurred and the money requisitioned after the enactment of an
   appropriation law which:
   				a. Specifies the purpose for which such money is appropriated and the
   amount appropriated therefor;
   				b. Limits the period within which such money may be obligated to a period
   ending not more than two years after the date of the enactment of the
   appropriation law; and
   				c. Limits the amount which may be obligated during any twelve-month period
   beginning on July 1 and ending on the next June 30 to an amount which does not
   exceed the amount by which (i) the aggregate of the amount credited to the
   account of this Commonwealth, pursuant to &#xA7; 903 of the Social Security
   Act (42 U.S.C. &#xA7; 1103), during the same twelve-month period and the
   thirty-four preceding twelve-month periods, exceeds (ii) the aggregate of the
   amounts obligated for administration and paid out for benefits and charged
   against the amounts credited to the account of this Commonwealth pursuant to
   such section during such thirty-five twelve-month periods.

B. Amounts credited to this Commonwealth&#8217;s account in the Unemployment
Trust Fund under &#xA7; 903 of the Social Security Act (42 U.S.C. &#xA7; 1103)
which are obligated for administration or paid out for benefits shall be charged
against equivalent amounts which were first credited and which are not already
so charged. However, no amount obligated for administration during a
twelve-month period specified in subdivision 2 of subsection A of this section
may be charged against any amount credited during such a twelve-month period
earlier than the thirty-fourth preceding such period.

C. Money requisitioned as provided for the payment of expenses of administration
shall be deposited in the Unemployment Compensation Administration Fund, but,
until expended, shall remain a part of the Unemployment Trust Fund. The
Commission shall maintain a separate record of the deposit, obligation,
expenditure and return of funds so deposited.

HISTORY: 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.