§ 8-405. Procedures for withdrawals from Trust Fund account
West's Annotated Code of MarylandLabor and Employment
MD Code, Labor and Employment, § 8-405
§ 8-405. Procedures for withdrawals from Trust Fund account
(a)(1) The Secretary shall requisition money that is credited to the account of the State in the Unemployment Trust Fund as the Secretary considers necessary for payment of benefits and refunds under this title for a reasonable period in the future.
(b)(1) If the General Assembly first enacts an appropriation in accordance with paragraph (4) of this subsection, the Secretary may requisition money that is credited under § 903 of the Social Security Act1 to the account of the State in the Unemployment Trust Fund to pay expenses of administration of this title that will be incurred after enactment of the appropriation.
(iii) limit the amount of money that may be obligated during a 12-month period beginning on July 1 and ending on the next June 30 to an amount not exceeding the amount by which the total of the money credited to the account of the State in the Unemployment Trust Fund during that and the 34 preceding 12-month periods exceeds the total of the money obligated for payment of administrative expenses and paid for benefits during the same 35 12-month periods.
Credits
Added by Acts 1991, c. 8, § 2, eff. Oct. 1, 1991. Amended by Acts 1992, c. 22, § 1.
Formerly Art. 95A, § 10.
Footnotes
Aug. 14, 1935, ch. 531, 49 Stat. 620, codified at 42 U.S.C.A. § 301 et seq.
MD Code, Labor and Employment, § 8-405, MD LABOR & EMPLY § 8-405
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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