CHAPTER 131

An Act to amend and reenact § 60-94.1 of the Code of Virginia, relating
to the Unemployment Compensation Fund. rH 746)

Approved March 6, 1968

Be it enacted by the General Assembly of Virginia:

§ 60-94.1. (1) Money credited to the account of this State in the
Unemployment Trust Fund by the Secretary of the Treasury of the United
States of America pursuant to § 903 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 administra-
tion 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 enactment 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 enact-
ment 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 (i) the aggregate of
the amount credited to the account of this State pursuant to § 903 of the
Social Security Act during the same twelve-month period and the * nine
preceding twelve-month periods, exceeds (ii) 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 * ten twelve-month periods.

(2) Amounts credited to this State’s account in the Unemployment
Trust Fund under § 903 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 * ninth pre-
ceding such period.
(8) Money requisitioned as provided herein for the payment of
expenses 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
30 deposited.

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