341.611 Payment of interest on advances -- Surcharge under KRS 341.614 on
160 words·~1 min read·
/ky/341-611A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
contributing employers.
(1)Any interest required to be paid on advances under Title XII of the Social Security
Act shall be paid in a timely manner and shall not be paid directly or indirectly, by
an equivalent reduction in unemployment contributions or otherwise, by the state
unemployment insurance fund.
(2)Such interest and the repayment of money, including any interest thereon, received
from any source related to the payment of interest on advances under Title XII of
the Social Security Act shall be paid by the penalty and interest account as required
by KRS 341.295.
(3)In the event there are insufficient funds in the unemployment compensation
administration fund to pay the interest on such advances under Title XII of the
Social Security Act or the repayment of money, including any interest thereon,
received from any source related to the payment of interest on such advances, all
subject contributing employers shall be assessed a surcharge as provided in KRS
341.614.