CHAPTER 54

An Act to amend and reenact §§ 60-92, and 60-96 as amended, of the
Code of Virginia, and to amend the Code of Virginia by adding a
new section numbered 60-94.1, the amended and new sections relating
to the Unemployment Compensation Fund and the Unemployment
Compensation Administration Fund, so as to authorize the expenditure
of funds for administrative purposes under certain conditions. _

[ ]

Approved February 22, 1960

Be it enacted by the General Assembly of Virginia:

1. That §§ 60-92, and 60-96 as amended, of the Code of Virginia, be
amended and reenacted and that the Code of Virginia be amended by add-
ing a new section numbered 60-94.1, the amended and new sections being
as follows:

§ 60-92. Moneys shall be requisitioned from this State’s account in
the unemployment trust fund solely for the payment of benefits and in
accordance with regulations prescribed by the Commission, except that
money credited to this State’s account pursuant to § 908 of the Social
Security Act, as amended, shall be used exclusively as provided in § 60-94.1.
The Commission shall, from time to time, requisition from the unemploy-
ment trust fund such amounts, not exceeding the amount standing to its
credit therein, as it deems necessary for the payment of benefits for a rea-
sonable future period. Upon receipt thereof, the same shall be paid into the
State treasury to the credit of the benefit account, and shall be used solely
to pay the benefits provided for in this title. Any balance of moneys requi-
sitioned from the unemployment trust fund which remains unclaimed or un-
paid in the benefit account after the expiration of the period for which such
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 Commission, shall be paid over to the Secretary of
the Treasury of the United States, as provided in § 60-91. All benefits
shall be paid through public employment offices provided for in this title.

§ 60-94.1 (1) Money credited to the account of this State in the Un-
employment Trust Fund by the Secretary of the Treasury of the United
States of America pursuant to § 908 of the Social Security Act may not
be requisitioned from this State’s account or used except for the payment
of benefits and for the payment of expenses incurred for the administration
of this Act. Such money may be requisitioned pursuant to § 60-92 for the
payment of benefits. Such money may also be requisitioned and used for
the payment of expenses incurred for the administration of this Act but
only pursuant to a specific appropriation by the General Assembly and only
if the expenses are incurred and the money requisitioned after the enact-
ment of an appropriation law which:

(a) specifies the purpose for which such money is appropriated and
the amount appropriated therefor;

(b) limits the period within which such money may be obligated to a
period ending not more than two years after the date of the enactment of
the appropriation law; and

(c) limits the amount which may be obligated during any twelve-
month period beginning on July 1 and ending on the next June 30 to an
amount which does not exceed the amount by which (1) the aggregate
of the amount credited to the account of this State pursuant to § 908 of
the Social Security Act during the same twelve-month period and the
four preceding twelve-month periods, exceeds (11) the aggregate of the
amounts obligated for administration and paid out for benefits and charged
against the amounts credited to the account of this State pursuant to such
section during such five twelve-month periods.

(2) Amounts credited to this State’s account in the Unemployment
Trust Fund under § 908 of the Social Security Act which are obligated
for administration or paid out for benefits shall be charged against equiva-
lent amounts which were first credited and which are not already so
charged; except that no amount obligated for administration during a
twelve-month period specified herein may be charged against any amount
credited during such a twelve-month period earlier than the fourth pre-
ceding such period.

(3) Money requisitioned as provided herein for the payment of ez-
menses of administration shall be deposited in the Unemployment Com-
pensation Administration Fund, but, until expended, shall remain a part
of the Unemployment Trust Fund. The Commission shall maintain a
separate record of the deposit, obligation, expenditure and return of funds
so deposited.

§ 60-96. The fund shall consist of all moneys appropriated by this
State, and all moneys received from the United States of America, or any
agency thereof, including the United States Department of Labor, the
Railroad Retirement Board, and the United States Employment Service,
or from any other source, for the purpose declared in § 60-97. Notwith-
standing any provision of this article, all moneys requisitioned and de-
posited in this fund pursuant to the provisions of § 60-94.1 (3) shall
remain part of the Unemployment Trust Fund and shall be used only in
accordance with the conditions specified in § 60-94.1.

2. An emergency exists and this Act is in force from its passage.