Kentucky Statutes 341.510 – Withdrawals from trust fund — Governor may request transfer of funds from federal unemployment trust fund
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(1) 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.
(2) 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.
(3) 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.
(4) 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.
(5) 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.
(2) 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.
Terms Used In Kentucky Statutes 341.510
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Benefits: means the money payments payable to a worker under this chapter and under any previous unemployment compensation law of this state with respect to his unemployment. See Kentucky Statutes 341.020
- Cabinet: means the Education and Labor Cabinet. See Kentucky Statutes 341.005
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Fund: means the unemployment insurance fund established by KRS §. See Kentucky Statutes 341.020
- Secretary: means the secretary of the Education and Labor Cabinet or his or her duly authorized representative. See Kentucky Statutes 341.005
- State: includes , in addition to the states of the United States of America, the
District of Columbia, Puerto Rico, the Dominion of Canada, and Virgin Islands. See Kentucky Statutes 341.020
(3) 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.
(4) 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.
(5) 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.