Oregon Statutes 657.815 – Unemployment Compensation Benefit Fund
(1) There is created, separate and distinct from the General Fund, the Unemployment Compensation Benefit Fund. Such fund shall consist of all amounts withdrawn from the Federal Unemployment Trust Fund, upon requisition of the Director of the Employment Department, except as provided in ORS § 657.812.
Terms Used In Oregon Statutes 657.815
- Benefits: means the money allowances payable to unemployed persons under this chapter. See Oregon Statutes 657.010
- contributions: means the taxes that are the money payments required by this chapter, or voluntary payments permitted, to be made to the Unemployment Compensation Trust Fund. See Oregon Statutes 657.010
- employment: includes service that is:
(a) Subject to the tax imposed by the Federal Unemployment Tax Act; or
(b) Required to be covered under this chapter as a condition for employers to receive a full tax credit against the tax imposed by the Federal Unemployment Tax Act. See Oregon Statutes 657.030
(2) This fund shall be used solely in the payment of benefits under this chapter, exclusive of administration, and in the payment of unemployment insurance under any agreement with another governmental agency whereby the latter will reimburse the fund for such expenditure; provided that such use shall be consistent with the Federal Unemployment Tax Act.
(3) The Unemployment Compensation Benefit Fund shall be the sole and exclusive source for the payment of benefits payable under this chapter. Such benefits shall be deemed to be due and payable only to the extent that contributions, with increments thereon, actually collected and credited to the fund are available therefor.
(4) The Unemployment Compensation Benefit Fund shall be held and administered by the State Treasurer in the same manner as provided in ORS § 657.830 (1). Interest earned on the fund shall be credited to the fund. [Amended by 1957 c.609 § 2; 1959 c.604 § 2; 1995 c.37 § 3]