
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: 45USC360]

 
                           TITLE 45--RAILROADS
 
               CHAPTER 11--RAILROAD UNEMPLOYMENT INSURANCE
 
Sec. 360. Railroad unemployment insurance account


(a) Funds constituting account; availability for benefits or refunds

    The Secretary of the Treasury shall maintain in the unemployment 
trust fund established pursuant to section 1104 of title 42 an account 
to be known as the railroad unemployment insurance account. This account 
shall consist of (i) such part of all contributions collected pursuant 
to section 358 of this title as is in excess of 0.65 per centum of the 
total compensation on which such contributions are based, together with 
all interest collected pursuant to section 358(g) \1\ of this title; 
(ii) all amounts transferred or paid into the account pursuant to 
section 363 or section 364 of this title; (iii) all additional amounts 
appropriated to the account in accordance with any provision of this 
chapter or with any provision of law now or hereafter adopted; (iv) a 
proportionate part of the earnings of the unemployment trust fund, 
computed in accordance with the provisions of section 1104(e) of title 
42; (v) all amounts realized in recoveries for overpayments or erroneous 
payments of benefits; (vi) all amounts transferred thereto pursuant to 
section 361 of this title; (vii) all fines or penalties collected 
pursuant to the provisions of this chapter; and (viii) all amounts 
credited thereto pursuant to section 352(f) or section 362(g) of this 
title. Notwithstanding any other provision of law, all moneys credited 
to the account shall be mingled and undivided, and are permanently 
appropriated to the Board to be continuously available to the Board 
without further appropriation, for the payment of benefits and refunds 
under this chapter, and no part thereof shall lapse at any time, or be 
carried to the surplus fund or any other fund.
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    \1\ See References in Text note below.
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(b) Payment of benefits or refunds

    All moneys in the account shall be used solely for the payment of 
the benefits and refunds provided for by this chapter. The Board shall, 
from time to time, certify to the Secretary of the Treasury the name and 
address of each person or company entitled to receive benefits or a 
refund payment under this chapter, the amount of such payment, and the 
time at which it shall be made. Prior to audit or settlement by the 
General Accounting Office, the Secretary of the Treasury, through the 
Fiscal Service of the Treasury Department, shall make payments from the 
account directly to such person or company of the amount of benefits or 
refund so certified by the Board: Provided, however, That if the Board 
shall so request, the Secretary of the Treasury, through the Fiscal 
Service of the Treasury Department, shall transmit benefits payments to 
the Board for distribution by it through employment offices or in such 
other manner as the Board deems proper.

(c) Annual report to Congress

    The Board shall include in its annual report to Congress a statement 
with respect to the status and operation of the account.

(d) Transfer and retransfer of funds; interest

    Whenever the Board finds at any time that the balance in the 
railroad unemployment insurance account will be insufficient to pay the 
benefits and refunds which it estimates are due, or will become due, 
under this chapter, it shall request the Secretary of the Treasury to 
transfer from the Railroad Retirement Account to the credit of the 
railroad unemployment insurance account such moneys as the Board 
estimates would be necessary for the payment of such benefits and 
refunds, and the Secretary shall make such transfer. Whenever the Board 
finds that the balance in the railroad unemployment insurance account, 
without regard to the amounts transferred pursuant to the next preceding 
sentence, is sufficient to pay such benefits and refunds, it shall 
request the Secretary of the Treasury to retransfer from the railroad 
unemployment insurance account to the credit of the Railroad Retirement 
Account such moneys as in its judgment are not needed for the payment of 
such benefits and refunds, plus interest at a rate for each fiscal year 
equal to the average rate of interest borne by all special obligations 
held by the Railroad Retirement Account on the last day of the preceding 
fiscal year, rounded to the nearest multiple of one-eighth of 1 per 
centum, and the Secretary shall make such retransfer. In determining the 
balance in the railroad unemployment insurance account as of September 
30 of any year pursuant to section 358(a) of this title, any moneys 
transferred from the Railroad Retirement Account to the credit of the 
railroad unemployment insurance account which have not been 
retransferred as of such date from the latter account to the credit of 
the former, plus the interest accrued thereon to that date, shall be 
disregarded.

(June 25, 1938, ch. 680, Sec. 10 (less (e)-(g)), 52 Stat. 1104; June 20, 
1939, ch. 227, Sec. 13, 53 Stat. 848; 1940 Reorg. Plan No. III, 
Sec. 1(a)(1), eff. June 30, 1940, 5 F.R. 2107, 54 Stat. 1231; June 23, 
1948, ch. 608, Sec. 7, 62 Stat. 578; Pub. L. 86-28, pt. III, 
Sec. 308(a), May 19, 1959, 73 Stat. 32; Pub. L. 88-133, title III, 
Sec. 305, Oct. 5, 1963, 77 Stat. 223; Pub. L. 89-700, title II, 
Sec. 205, Oct. 30, 1966, 80 Stat. 1087; Pub. L. 90-257, title II, 
Sec. 205, Feb. 15, 1968, 82 Stat. 24; Pub. L. 93-445, title IV, 
Sec. 403, Oct. 16, 1974, 88 Stat. 1359; Pub. L. 94-92, title I, 
Sec. 1(i), Aug. 9, 1975, 89 Stat. 464; Pub. L. 98-76, title III, 
Sec. 302, Aug. 12, 1983, 97 Stat. 432; Pub. L. 99-107, Sec. 4, Sept. 30, 
1985, 99 Stat. 479; Pub. L. 99-155, Sec. 2(c), Nov. 14, 1985, 99 Stat. 
814; Pub. L. 99-181, Sec. 3, Dec. 13, 1985, 99 Stat. 1172; Pub. L. 99-
189, Sec. 3, Dec. 18, 1985, 99 Stat. 1184; Pub. L. 99-272, title XIII, 
Sec. 13302, Apr. 7, 1986, 100 Stat. 327; Pub. L. 100-647, title VII, 
Sec. 7103(b)(1), Nov. 10, 1988, 102 Stat. 3770.)

                       References in Text

    Section 358(g) of this title, referred to in subsec. (a), was 
redesignated section 358(j) of this title by Pub. L. 100-647, title VII, 
Sec. 7102(d)(1), Nov. 10, 1988, 102 Stat. 3769.

                          Codification

    Section 10(e)-(g) of act June 25, 1938, amended section 1104 of 
Title 42, The Public Health and Welfare.


                               Amendments

    1988--Subsec. (a). Pub. L. 100-647 substituted ``0.65'' for ``0.5''.
    1986--Subsec. (d). Pub. L. 99-272 struck out at end ``No transfer 
shall be made under this subsection from Railroad Retirement Account 
after December 19, 1985, and no such transfer shall be made on or before 
December 19, 1985, for purposes of paying benefits and refunds due after 
such date.''
    1985--Subsec. (d). Pub. L. 99-189 substituted ``December 19, 1985'' 
for ``December 18, 1985'' wherever appearing.
    Pub. L. 99-181 substituted ``December 18, 1985'' for ``December 14, 
1985'' wherever appearing.
    Pub. L. 99-155 substituted ``December 14, 1985'' for ``November 14, 
1985'' wherever appearing.
    Pub. L. 99-107 substituted ``November 14, 1985'' for ``September 30, 
1985'' wherever appearing.
    1983--Subsec. (d). Pub. L. 98-76 inserted provisions that no 
transfer shall be made under this subsection from Railroad Retirement 
Account after September 30, 1985, and no such transfer shall be made on 
or before September 30, 1985, for purposes of paying benefits and 
refunds due after such date.
    1975--Subsec. (a)(i). Pub. L. 94-92, Sec. 1(i)(1), substituted 
``0.5'' for ``0.25''.
    Subsec. (a)(ii). Pub. L. 94-92, Sec. 1(i)(2), struck out ``and 
pursuant to subsection (h)[e] of this section''. Congress probably 
intended to strike out internal reference to subsec. (e) of this section 
in view of repeal of subsection by section 403 of Pub. L. 93-445 and it 
being last subsection of section.
    1974--Subsec. (e). Pub. L. 93-445 repealed subsec. (e) which was 
added by Pub. L. 90-257 as subsec. (h) and redesignated (e) for purposes 
of codification, and which provided for annual adjustment of account and 
transfer of funds from Railroad Retirement Account.
    1968--Subsec. (a)(ii). Pub. L. 90-257 inserted reference to amounts 
transferred or paid into account pursuant to subsec. (e) of this 
section.
    Subsec. (e). Pub. L. 90-257 added subsec. (e) which was subsec. (h) 
in original and was redesignated (e) for purposes of codification.
    1966--Subsec. (a). Pub. L. 89-700 substituted ``0.25 per centum'' 
for ``0.2 per centum''.
    1963--Subsec. (d). Pub. L. 88-133 substituted ``a rate for each 
fiscal year equal to the average rate of interest borne by all special 
obligations held by the Railroad Retirement Account on the last day of 
the preceding fiscal year, rounded to the nearest multiple of one-eighth 
of 1 per centum'' for ``the rate of 3 per centum per annum.''
    1959--Subsec. (d). Pub. L. 86-28 substituted provisions authorizing 
Board to request transfer and retransfer of funds for provisions which 
directed Secretary of the Treasury to advance not more than $25,000,000 
for purpose of paying benefits.
    1948--Subsec. (a)(i). Act June 23, 1948, changed computation of 
insurance account.
    1939--Subsec. (a). Act June 20, 1939, substituted ``(f)'' for 
``(g)''.


                    Effective Date of 1988 Amendment

    Amendment by Pub. L. 100-647 applicable with respect to compensation 
paid in months beginning after Sept. 30, 1988, see section 7103(c) of 
Pub. L. 100-647, set out as a note under section 358 of this title.


                    Effective Date of 1975 Amendment

    Amendment by Pub. L. 94-92 effective with respect to compensation 
paid for services rendered after Dec. 31, 1975; and effective Aug. 9, 
1975, respectively, see section 2 of Pub. L. 94-92, set out as a note 
under section 351 of this title.


                    Effective Date of 1974 Amendment

    Amendment by Pub. L. 93-445 effective Jan. 1, 1975, see section 603 
of Pub. L. 93-445, set out as a note under section 402 of Title 42, The 
Public Health and Welfare.


                    Effective Date of 1963 Amendment

    Section 305 of Pub. L. 88-133 provided that the amendment made by 
that section is effective after June 30, 1964.


                    Effective Date of 1959 Amendment

    Section 308(b) of Pub. L. 86-28 provided that: ``The amendment made 
by this section [amending this section] shall take effect on the date of 
enactment of this Act [May 19, 1959].''

                          Transfer of Functions

    ``Fiscal Service'' substituted for ``Division of Disbursements'' in 
two places in subsec. (b) on authority of section 1(a)(1) of Reorg. Plan 
No. III of 1940, eff. June 30, 1940, 5 F.R. 2107, 54 Stat. 1231, set out 
in the Appendix to Title 5, Government Organization and Employees, which 
consolidated such division into Fiscal Service of Treasury Department. 
See section 306 of Title 31, Money and Finance.


                            Cross References

    Custody, investment, and disbursement of fund, see section 1104 of 
Title 42, The Public Health and Welfare.

                  Section Referred to in Other Sections

    This section is referred to in sections 231u, 351, 358 of this 
title; title 26 section 3321.
