Kentucky Statutes 341.490 – Unemployment insurance fund
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(1) There shall be a special fund known as the unemployment insurance fund which shall be administered separate and apart from all public money or funds of this state. This fund shall consist of:
(a) All contributions, payments in lieu of contributions, and money collected under this chapter, except any surcharge; interest collected on a delinquent surcharge; money received from any source related to payment of interest on advances under Title XII of the Social Security Act; fines, penalties, and interest on delinquent contributions collected under KRS § 341.300; and service capacity upgrade payments collected under KRS § 341.243;
(b) Interest earned upon any money in the fund;
(c) Any property or securities acquired through use of money belonging to the fund;
(d) All earnings of such property or securities;
(e) All money received from the federal unemployment account in the unemployment trust fund in accordance with Title XII of the Social Security Act as amended;
(f) All money credited to the account of this state in the unemployment trust fund in accordance with Section 903 of the Social Security Act as amended; and
(g) All money received from the federal government as reimbursement, pursuant to Section 204 of the Federal-State Extended Unemployment Compensation Act of 1970.
(2) All moneys in the fund shall be commingled and undivided.
(3) Subject to the provisions of this chapter, the secretary may have full power, authority, and jurisdiction over the fund, including all money and property or securities belonging thereto, and may perform any act necessary or convenient in the administration thereof consistent with this chapter.
Effective: April 11, 2012
History: Amended 2012 Ky. Acts ch. 52, sec. 3, effective April 11, 2012. — Amended
1998 Ky. Acts ch. 167, sec. 8, effective July 15, 1998. — Amended 1996 Ky. Acts ch.
266, sec. 17, effective July 15, 1996. — Amended 1984 Ky. Acts ch. 326, sec. 5, effective July 13, 1984. — Amended 1980 Ky. Acts ch. 188, sec. 273, effective July
15, 1980. — Amended 1974 Ky. Acts ch. 74, Art. VI, sec. 107(21). — Amended 1972
Ky. Acts ch. 21, sec. 30. — Amended 1958 Ky. Acts ch. 4, sec. 11. — Amended 1956 (4th Extra. Sess.) Ky. Acts ch. 5, sec. 1. — Amended 1950 Ky. Acts ch. 206, sec. 1. — Amended 1948 Ky. Acts ch. 216, sec. 19. — Recodified 1942 Ky. Acts ch. 208, sec.
1, effective October 1, 1942, from Ky. Stat. sec. 4748g-14.
(a) All contributions, payments in lieu of contributions, and money collected under this chapter, except any surcharge; interest collected on a delinquent surcharge; money received from any source related to payment of interest on advances under Title XII of the Social Security Act; fines, penalties, and interest on delinquent contributions collected under KRS § 341.300; and service capacity upgrade payments collected under KRS § 341.243;
Terms Used In Kentucky Statutes 341.490
- Contributions: means the money payments, exclusive of interest and penalties, to the unemployment insurance fund required by this chapter and by any previous unemployment compensation law of this state. See Kentucky Statutes 341.020
- 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
(b) Interest earned upon any money in the fund;
(c) Any property or securities acquired through use of money belonging to the fund;
(d) All earnings of such property or securities;
(e) All money received from the federal unemployment account in the unemployment trust fund in accordance with Title XII of the Social Security Act as amended;
(f) All money credited to the account of this state in the unemployment trust fund in accordance with Section 903 of the Social Security Act as amended; and
(g) All money received from the federal government as reimbursement, pursuant to Section 204 of the Federal-State Extended Unemployment Compensation Act of 1970.
(2) All moneys in the fund shall be commingled and undivided.
(3) Subject to the provisions of this chapter, the secretary may have full power, authority, and jurisdiction over the fund, including all money and property or securities belonging thereto, and may perform any act necessary or convenient in the administration thereof consistent with this chapter.
Effective: April 11, 2012
History: Amended 2012 Ky. Acts ch. 52, sec. 3, effective April 11, 2012. — Amended
1998 Ky. Acts ch. 167, sec. 8, effective July 15, 1998. — Amended 1996 Ky. Acts ch.
266, sec. 17, effective July 15, 1996. — Amended 1984 Ky. Acts ch. 326, sec. 5, effective July 13, 1984. — Amended 1980 Ky. Acts ch. 188, sec. 273, effective July
15, 1980. — Amended 1974 Ky. Acts ch. 74, Art. VI, sec. 107(21). — Amended 1972
Ky. Acts ch. 21, sec. 30. — Amended 1958 Ky. Acts ch. 4, sec. 11. — Amended 1956 (4th Extra. Sess.) Ky. Acts ch. 5, sec. 1. — Amended 1950 Ky. Acts ch. 206, sec. 1. — Amended 1948 Ky. Acts ch. 216, sec. 19. — Recodified 1942 Ky. Acts ch. 208, sec.
1, effective October 1, 1942, from Ky. Stat. sec. 4748g-14.