There is a newer version of this Section
2022
2021
2020
2019
2018 (you are here)
Other previous versions
View our newest version here

2018 Kentucky Revised Statutes
CHAPTER 341 - UNEMPLOYMENT COMPENSATION
.510 Withdrawals from trust fund -- Governor may request transfer of funds from federal unemployment trust fund.

Universal Citation: KY Rev Stat § 341.510 (2018)
Previous Next

Download as PDF
341.510 Withdrawals from trust fund -- Governor may request transfer of funds from federal unemployment trust fund. (1) (2) (3) (4) (5) 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. 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. 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. 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. 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. Effective: July 14, 2000 History: Amended 2000 Ky. Acts ch. 547, sec. 12, effective July 14, 2000. -- Amended 1978 Ky. Acts ch. 389, sec. 28, effective July 1, 1978. -- Amended 1974 Ky. Acts ch. 74, Arts. II, sec. 9(2) and VI, sec. 107(31) -- Amended 1956 (4th Extra. Sess.) ch. 5, sec. 2, effective July 26, 1956. -- Amended 1950 Ky. Acts ch. 206, sec. 1. -Amended 1944 Ky. Acts ch. 27, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4748g-14.
Previous Next
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.