341.510 Withdrawals from trust fund -- Governor may request transfer of funds

425 words·~2 min read·/ky/341-510

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

from federal unemployment trust fund.

(1)Except as provided in subsection

(2)of this section and except the money as has

been credited to the account of this state in the unemployment trust fund under the

provisions of Section 903 of the Social Security Act as amended, and appropriated

by legislative action authorized thereunder for administrative expenses, money shall

be requisitioned from the state's account in the unemployment trust fund solely for

the payment of benefits and in accordance with regulations prescribed by the

secretary. The secretary, through the State Treasurer acting as his fiscal agent, shall

from time to time requisition from the unemployment trust fund the amounts not

exceeding the amounts standing to this state's accounts therein, as he considers

necessary for the payment of benefits for a reasonable future period.

(2)The Governor may, at any time, pursuant to Section 1202 of the Social Security

Act, request that funds be transferred from this state's account in the unemployment

trust fund for repayment of part or all of that balance of advances made to the state

under Section 1201 of the Social Security Act.

(3)Upon receipt thereof the Treasurer shall deposit the money in the benefit account

and shall issue his vouchers for the payment of benefits solely from the benefit

account. Expenditures of the money in the benefit account shall not be subject to

any provisions of law requiring specific appropriations or other formal release by

state officers of money in their custody. All vouchers issued by the Treasurer for the

payment of benefits and refunds shall bear the signature of the Treasurer and the

approval in writing of the secretary of the Finance and Administration Cabinet.

(4)Any balance of money requisitioned from the unemployment trust fund that remains

unclaimed or unpaid in the benefit account after the expiration of the period for

which the sums were requisitioned shall either be deducted from estimates for, and

may be utilized for the payment of benefits during succeeding periods, or, in the

discretion of the secretary, shall be redeposited with the secretary of the federal

Treasury to the credit of this state's account in the unemployment trust fund, as

provided in KRS 341.500.

(5)Notwithstanding the provisions of subsection

(1)of this section to the contrary,

money credited to the state under Section 903 of the Social Security Act, as

amended with respect to federal fiscal years 1999, 2000, and 2001, shall be used

solely for the administration of the unemployment insurance program and not

subject to appropriation by the General Assembly.