
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC1105]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                       CHAPTER 7--SOCIAL SECURITY
 
       SUBCHAPTER IX--EMPLOYMENT SECURITY ADMINISTRATIVE FINANCING
 
Sec. 1105. Extended Unemployment Compensation Account


(a) Establishment

    There is hereby established in the Unemployment Trust Fund an 
extended unemployment compensation account. For the purposes provided 
for in section 1104(e) of this title, such account shall be maintained 
as a separate book account.

(b) Transfers to account

    (1) Except as provided in paragraph (3), the Secretary of the 
Treasury shall transfer (as of the close of each month) from the 
employment security administration account to the extended unemployment 
compensation account established by subsection (a) of this section, an 
amount (determined by such Secretary) equal to 20 percent of the amount 
by which--
        (A) the transfers to the employment security administration 
    account pursuant to section 1101(b)(2) of this title during such 
    month, exceed
        (B) the payments during such month from the employment security 
    administration account pursuant to section 1101(b)(3) and (d) of 
    this title.

If for any such month the payments referred to in subparagraph (B) 
exceed the transfers referred to in subparagraph (A), proper adjustments 
shall be made in the amounts subsequently transferred.
    (2) Whenever the Secretary of the Treasury determines pursuant to 
section 1101(f) of this title that there is an excess in the employment 
security administration account as of the close of any fiscal year 
beginning after June 30, 1972, there shall be transferred (as of the 
beginning of the succeeding fiscal year) to the extended unemployment 
compensation account the total amount of such excess or so much thereof 
as is required to increase the amount in the extended unemployment 
compensation account to whichever of the following is the greater:
        (A) $750,000,000, or
        (B) the amount (determined by the Secretary of Labor and 
    certified by him to the Secretary of the Treasury) equal to 0.5 
    percent of the total wages subject (determined without any 
    limitation on amount) to contributions under all State unemployment 
    compensation laws for the calendar year ending during the fiscal 
    year for which the excess is determined.

    (3) The Secretary of the Treasury shall make no transfer pursuant to 
paragraph (1) as of the close of any month if he determines that the 
amount in the extended unemployment compensation account is equal to (or 
in excess of) the limitation provided in paragraph (2).

(c) Transfers to State accounts

    Amounts in the extended unemployment compensation account shall be 
available for transfer to the accounts of the States in the Unemployment 
Trust Fund as provided in section 204(e) of the Federal-State Extended 
Unemployment Compensation Act of 1970.

(d) Advances to account; repayment

    There are hereby authorized to be appropriated, without fiscal year 
limitation, to the extended unemployment compensation account, as 
repayable advances, such sums as may be necessary to carry out the 
purposes of the Federal-State Extended Unemployment Compensation Act of 
1970. Amounts appropriated as repayable advances shall be repaid by 
transfers from the extended unemployment compensation account to the 
general fund of the Treasury, at such times as the amount in the 
extended unemployment compensation account is determined by the 
Secretary of the Treasury, in consultation with the Secretary of Labor, 
to be adequate for such purpose. Repayments under the preceding sentence 
shall be made whenever the Secretary of the Treasury (after consultation 
with the Secretary of Labor) determines that the amount then in the 
account exceeds the amount necessary to meet the anticipated payments 
from the account during the next 3 months. Any amount transferred as a 
repayment under this subsection shall be credited against, and shall 
operate to reduce, any balance of advances repayable under this 
subsection. Amounts appropriated as repayable advances for purposes of 
this subsection shall bear interest at a rate equal to the average rate 
of interest, computed as of the end of the calendar month next preceding 
the date of such advance, borne by all interest bearing obligations of 
the United States then forming part of the public debt; except that in 
cases in which such average rate is not a multiple of one-eighth of 1 
percent, the rate of interest shall be the multiple of one-eighth of 1 
percent next lower than such average rate.

(Aug. 14, 1935, ch. 531, title IX, Sec. 905, as added Pub. L. 87-6, 
Sec. 13, Mar. 24, 1961, 75 Stat. 14; amended Pub. L. 88-31, Sec. 2(c), 
May 29, 1963, 77 Stat. 51; Pub. L. 91-373, title III, Sec. 305(a), Aug. 
10, 1970, 84 Stat. 716; Pub. L. 92-329, Sec. 2(c), June 30, 1972, 86 
Stat. 398; Pub. L. 94-566, title II, Sec. 211(e)(2) [(c)(2)], Oct. 20, 
1976, 90 Stat. 2677; Pub. L. 97-248, title II, Secs. 271(b)(2)(B), 275, 
Sept. 3, 1982, 96 Stat. 555, 558; Pub. L. 100-203, title IX, 
Secs. 9154(b)(2), (c)(1), 9155(a), Dec. 22, 1987, 101 Stat. 1330-326; 
Pub. L. 102-318, title V, Sec. 531(a), July 3, 1992, 106 Stat. 315; Pub. 
L. 103-152, Sec. 5, Nov. 24, 1993, 107 Stat. 1518.)

                       References in Text

    The Federal-State Extended Unemployment Compensation Act of 1970, 
referred to in subsecs. (c) and (d), is Pub. L. 91-373, title II, Aug. 
10, 1970, 84 Stat. 708, as amended, which is set out as a note under 
section 3304 of Title 26, Internal Revenue Code. Section 204(e) of that 
Act is part of that note. For complete classification of this Act to the 
Code, see Tables.


                            Prior Provisions

    A prior section 1105, act Aug. 14, 1935, ch. 531, title IX, 
Sec. 905, 49 Stat. 641, related to administration, refunds and 
penalties. For further details, see Prior Law note set out preceding 
section 1101 of this title.


                               Amendments

    1993--Subsec. (b)(1). Pub. L. 103-152 amended par. (1) generally. 
Prior to amendment, par. (1) read as follows: ``Except as provided in 
paragraph (3), the Secretary of the Treasury shall transfer (as of the 
close of each month), from the employment security administration 
account to the extended unemployment compensation account established by 
subsection (a) of this section, an amount determined by him to be equal 
to the sum of--
        ``(A) 100 percent of the transfers to the employment security 
    administration account pursuant to section 1101(b)(2) of this title 
    during such month on account of liabilities referred to in section 
    1101(b)(1)(B) of this title, plus
        ``(B) 20 percent of the excess of the transfers to such account 
    pursuant to section 1101(b)(2) of this title during such month on 
    account of amounts referred to in section 1101(b)(1)(A) of this 
    title over the payments during such month from the employment 
    security administration account pursuant to section 1101(b)(3) and 
    (d) of this title.
If for any such month the payments referred to in subparagraph (B) 
exceed the transfers referred to in subparagraph (B), proper adjustments 
shall be made in the amounts subsequently transferred.''
    1992--Subsec. (b)(1). Pub. L. 102-318, Sec. 531(a)(1), amended par. 
(1) generally. Prior to amendment, par. (1) read as follows: ``Except as 
provided by paragraph (3), the Secretary of the Treasury shall transfer 
(as of the close of July 1970, and each month thereafter), from the 
employment security administration account to the extended unemployment 
compensation account established by subsection (a) of this section, an 
amount determined by him to be equal, in the case of any month before 
April 1972, to one-fifth, and in the case of any month after March 1972, 
to one-tenth, of the amount by which--
        ``(A) transfers to the employment security administration 
    account pursuant to section 1101(b)(2) of this title during such 
    month, exceed
        ``(B) payments during such month from the employment security 
    administration account pursuant to section 1101(b)(3) and (d) of 
    this title.
If for any such month the payments referred to in subparagraph (B) 
exceed the transfers referred to in subparagraph (A), proper adjustments 
shall be made in the amounts subsequently transferred.''
    Subsec. (b)(2)(B). Pub. L. 102-318, Sec. 531(a)(2), substituted 
``0.5 percent'' for ``three-eighths of 1 percent''.
    1987--Subsec. (b)(1). Pub. L. 100-203, Sec. 9154(c)(1), struck out 
at end ``In the case of any month after March 1983 and before April 1 of 
the first calendar year to which paragraph (2) of section 3301 of the 
Federal Unemployment Tax Act applies, the first sentence of this 
paragraph shall be applied by substituting `40 percent' for `one-
tenth'.''
    Subsec. (b)(2)(B). Pub. L. 100-203, Sec. 9154(b)(2), substituted 
``three-eighths'' for ``one-eighth''.
    Subsec. (d). Pub. L. 100-203, Sec. 9155(a), struck out ``(without 
interest)'' after ``account, as repayable advances'' and ``, without 
interest,'' after ``shall be repaid'' and inserted sentence at end 
providing that amounts appropriated as repayable advances for purposes 
of this subsection shall bear interest.
    1982--Subsec. (b)(1). Pub. L. 97-248, Sec. 271(b)(2)(B), substituted 
``1983'' for ``1977'', inserted ``1'' after ``April'', and substituted 
``40 percent'' for ``five-fourteenths'' in provisions following subpar. 
(B).
    Subsec. (d). Pub. L. 97-248, Sec. 275, inserted provision that 
repayment shall be made whenever the Secretary of the Treasury 
determines that the amount then in the account exceeds the amount 
necessary to meet the anticipated payments from the account during the 
next 3 months.
    1976--Subsec. (b)(1). Pub. L. 94-566 substituted ``In the case of 
any month after March 1977 and before April of the first calendar year 
to which paragraph (2) of section 3301 of the Federal Unemployment Tax 
Act applies, the first sentence of this paragraph shall be applied by 
substituting `five-fourteenths' for `one-tenth' '' for ``In the case of 
any month after March 1973 and before April 1974, the first sentence of 
this paragraph shall be applied by substituting `thirteen fifty-eighths' 
for `one-tenth' ''.
    1972--Subsec. (b)(1). Pub. L. 92-329 inserted provisions for 
transfers in the case of any month after March 1973 and before April 
1974.
    1970--Pub. L. 91-373 substituted provisions for an extended 
unemployment compensation account for provisions for a Federal extended 
compensation account.
    1963--Subsec. (b). Pub. L. 88-31 inserted ``(with respect to the 
calendar year 1963), or \5/13\ (with respect to the calendar year 
1964),''.


                    Effective Date of 1992 Amendment

    Amendment by section 531(a) of Pub. L. 102-318 effective July 3, 
1992, except that amendment by section 531(a)(2) of Pub. L. 102-318 
applicable to fiscal years beginning after Sept. 30, 1993, see section 
531(e) of Pub. L. 102-318, set out as a note under section 1102 of this 
title.


                    Effective Date of 1987 Amendment

    Amendment by section 9155(a) of Pub. L. 100-203 applicable to 
advances made on or after Dec. 22, 1987, see section 9155(d) of Pub. L. 
100-203, set out as a note under section 1103 of this title.


                    Effective Date of 1982 Amendment

    Amendment by section 271(b)(2)(B) of Pub. L. 97-248 applicable to 
remuneration paid after Dec. 31, 1982, see section 271(d)(1) of Pub. L. 
97-248, as amended, set out as a note under section 3301 of Title 26, 
Internal Revenue Code.


                    Effective Date of 1976 Amendment

    Amendment by Pub. L. 94-566 effective Oct. 20, 1976, see section 
211(d)(3) of Pub. L. 94-566, set out as a note under section 1101 of 
this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 1101, 1102, 1103, 1110 of 
this title.
