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42 U.S.C. · The Public Health and Welfare
42 U.S.C. § 1110

Borrowing between Federal accounts

Ch. 7 — SOCIAL SECURITY
Title 42 U.S.C. ● ACTIVE Primary Source Ch. 7
Statutory Text

42 U.S.C. § 1110 — Borrowing between Federal accounts

U.S.C. Title 42 - THE PUBLIC HEALTH AND WELFARE 42 U.S.C. United States Code, 2023 Edition Title 42 - THE PUBLIC HEALTH AND WELFARE CHAPTER 7 - SOCIAL SECURITY SUBCHAPTER IX - EMPLOYMENT SECURITY ADMINISTRATIVE FINANCING Sec. 1110 - Borrowing between Federal accounts From the U.S. Government Publishing Office, www.gpo.gov

§1110. Borrowing between Federal accounts

(a) In general Whenever the Secretary of the Treasury (after consultation with the Secretary of Labor) determines that— (1) the amount in the employment security administration account, Federal unemployment account, or extended unemployment compensation account, is insufficient to meet the anticipated payments from the account, (2) such insufficiency may cause such account to borrow from the general fund of the Treasury, and (3) the amount in any other such account exceeds the amount necessary to meet the anticipated payments from such other account,

the Secretary shall transfer to the account referred to in paragraph (1) from the account referred to 1 paragraph (3) an amount equal to the insufficiency determined under paragraph (1) (or, if less, the excess determined under paragraph (3)). (b) Treatment of advance Any amount transferred under subsection (a)— (1) shall be treated as a noninterest-bearing repayable advance, and (2) shall not be considered in computing the amount in any account for purposes of the application of sections 1101(f)(2), 1102(b), and 1105(b) of this title. (c) Repayment Whenever the Secretary of the Treasury (after consultation with the Secretary of Labor) determines that the amount in the account to which an advance is made under subsection (a) exceeds the amount necessary to meet the anticipated payments from the account, the Secretary shall transfer from the account to the account from which the advance was made an amount equal to the lesser of the amount so advanced or such excess.

(Aug. 14, 1935, ch. 531, title IX, §910, as added Pub. L. 102–318, title V, §531(c), July 3, 1992, 106 Stat. 316.)

Editorial Notes

Prior Provisions A prior section 1110, act Aug. 14, 1935, ch. 531, title IX, §910, 49 Stat. 644, related to conditions of additional credit allowance. For further details, see Prior Law note set out preceding section 1101 of this title.

1 So in original. Probably should be "to in".

Source: uscode.house.gov — public domain Official Source ↗
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◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org
Federation ID
BS-USC42-SEC-6852D5
Entity Class
STATUTE / FEDERAL-CODE-SECTION
Domain Signature
boisestandard.org
Citation
42 U.S.C. § 1110
Jurisdiction
Federal — United States
Status
✓ ACTIVE
Source
PRIMARY-SOURCE
Source Verified
✓ TRUE
Content Hash
04bfc9b6b50fb638...
Semantic Edges
Pending — corpus passes queued
The statutory text of 42 U.S.C. § 1110 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 7 — SOCIAL SECURITY
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