Page:United States Statutes at Large Volume 52.djvu/1145

 PUBLIC LAWS-CH. 680-JUNE 25, 1938 Railroad unemploy- RAILROAD UNEMPLOYMENT INSURANCE ACCOUNT ment insurance ac- ouantenance. SEC. 10. (a) The Secretary of the Treasury shall maintain in the unemployment trust fund established pursuant to section 904 of 49 Stat. 64 upp the Social Security Act an account to be known as the railroad 42 U. S. C., Supp. m1, §1104. unemployment insurance account. This account shall consist of Composition. (i) 90 per centum of all contributions collected pursuant to section Ante, p. 1102. 8 of this Act, together with all interest thereon collected pursuant to section 8 of this Act; (ii) all amounts transferred or paid into Post, pp. 1110, 1112. the account pursuant to section 13 or section 14 of this Act; (iii) all additional amounts appropriated to the account in accordance with any provision of this Act or with any provision of law now or hereafter adopted; (iv) a proportionate part of the earnings of the unemployment trust fund, computed in accordance with the pro- 49 Sat 64. Spp visions of section 904 (e) of the Social Security Act; (v) all Im,,§1104(e). amounts realized in recoveries for overpayments or erroneous pay- ments of benefits; (vi) all amounts transferred thereto pursuant Post,p. 1105. to section 11 of this Act; (vii) all fines or penalties collected pur- suant to the provisions of this Act; and (viii) all amounts credited Ante, p. 1097; pot, thereto pursuant to section 2 (g) or section 12 (g) of this Act. Availability for ex- Notwithstanding any other provision of law, all moneys credited to penditure. the account shall be mingled and undivided, and are hereby per- manently appropriated to the Board to be continuously available to the Board without further appropriation, for the payment of benefits and refunds under this Act, and no part thereof shall lapse at any time, or be carried to the surplus fund or any other fund. Restriction on use. (b) All moneys in the account shall be used solely for the payment Certification of of thebenefits and refunds provided for by this Act. The Board shall, namesof beneficiaries. from time to time, certify to the Secretary of the Treasury the name and address of each person or company entitled to receive benefits or a refund payment under this Act, the amount of such payment, and rayments prior to the time at which it shall be made. Prior to audit or settlement by aud. the General Accounting Office, the Secretary of the Treasury, through the Division of Disbursements of the Treasury Department, shall make payments from the account directly to such person or company of the amount of benefits or refund so certified by the Board: Provided,hoo- Potori 1on ever, That if the Board shall so request, the Secretary of the Treasury, through employment through the Division of Disbursements of the Treasury Department, offices, etc. shall transmit benefits payments to the Board for distribution by it through employment offices or in such other manner as the Board deems proper. Statement of status andoperation inan- ( c ) The Board shall include in its annual report to Congress a nual report to Con- statement with respect to the status and operation of the account. Advances for paying (d) The Secretary of the Treasury is hereby directed to advance to benefits; repayment. the credit of the account such sums, but not more than $25,000,000, as the Board requests for the purpose of paying benefits. Such sums shall be repaid from the account on January 1, 1941, or at such earlier time as the Board may, by agreement with the Secretary of the Treasury, determine. 42 .sa ., supp. (e) Section 904 (a) of the Social Security Act is hereby amended III. 1104 (a). to read as follows: trust und;estal - "There is hereby established in the Treasury of the United States a mneiptordeposited trust fund to be known as the 'unemployment trust fund', hereinafter funds. in this title called the 'fund'. The Secretary of the Treasury is author- ized and directed to receive and hold in the fund all moneys deposited therein by a State agency from a State unemployment fund, or by the Railroad Retirement Board to the credit of the railroad unemployment Depositories. insurance account. Such deposit may be made directly with the Sec- retary of the Treasury or with any Federal Reserve bank or member bank of the Federal Reserve System designated by him for such purpose." 1104 [52 STAT.

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