Page:United States Statutes at Large Volume 106 Part 1.djvu/330

 106 STAT. 298 PUBLIC LAW 102-318—JULY 3, 1992 ,.-, and the Committee on Finance of the Senate on its recommendations with respect to the treatment of agricultural labor performed by aliens. 26 USC 3302 SEC. 304. EXTENSION OF PERIOD FOR REPAYMENT OF FEDERAL "o*e LOANS TO STATE UNEMPLOYMENT FUNDS. (a) GENERAL RULE. —If the Secretary of Labor determines that a State meets the requirements of subsection (b), paragraph (2) of section 3302(c) of the Internal Revenue Code of 1986 shall be applied with respect to such State for taxable years after 1991— (1) by substituting "third" for "second" in subparagraph (A)(i), (2) by substituting "fourth or fifth" for "third or fourth" in subparagraph (B), and (3) by substituting "sixth" for "fifth" in subparagraph (C). (b) REQUIREMENTS.— ^A State meets the requirements of this subsection if, during calendar year 1992 or 1993, the State amended its unemployment compensation law to increase estimated contributions required under such law by at least 25 percent. (c) SPECIAL RULE. —This section shall not apply to any taxable year after 1994 unless — (1) such taxable year is in a series of consecutive taxable years as of the beginning of each of which there was a balance referred to in section 3302(c)(2) of such Code, and (2) such series includes a taxable year beginning in 1992, 1993, or 1994. TITLE IV—MODIFICATION TO REGULAR STATE UNEMPLOYMENT COM- PENSATION PROGRAMS SEC. 401. TREATMENT OF SHORT-TIME UNEMPLOYMENT COM- PENSATION PROGRAMS. (a) AUTHORIZATION OF PROGRAMS.— (1) Paragraph (4) of section 3304(a) of the Internal Revenue 26 USC 3304. Code of 1986 is amended by striking "and" at the end of subparagraph (C), by inserting "and" at the end of subparagraph (D) and by adding at the end thereof the following new subparagraph: "(E) amounts may be withdrawn for the payment of short-time compensation under a plan approved by the Secretary of Labor;" 26 USC 3306. (2) Subsection (f) of section 3306 of such Code is amended by striking "and" at the end of paragraph (2) by striking the period at the end of paragraph (3) and inserting "; and", and by adding at the end thereof the following new paragraph: "(4) amounts may be withdrawn for the payment of shorttime compensation under a plan approved by the Secretary of Labor." 42 USC 503. (3) Section 303(a)(5) of the Social Security Act is amended by inserting before "; and" the following ": Provided further, lliat amounts may be withdrawn for the payment of shorttime compensation under a plan approved by the Secretary of Labor".

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