Page:United States Statutes at Large Volume 74.djvu/1011

 74 S T A T. ]

PUBLIC LAW 8 6 - 7 7 8 - S E P T. 13, 1960

after, an amount equal to 100 per centum of the tax (including interest, penalties, and additions to the tax) received during the fiscal year under the Federal Unemployment Tax Act and covered into the Treasury. "(2) The amount appropriated by paragraph (1) shall be transferred at least monthly from the general fund of the Treasury to the Unemployment Trust Fund and credited to the employment security administration account. Each such transfer shall be based on estimates made by the Secretary of the Treasury of the amounts received in the Treasury. Proper adjustments shall be made in the amounts subsequently transferred, to the extent prior estimates (including estimates for the fiscal year ending June 30, 1960) were in excess of or were less than the amounts required to be transferred. "(3) The Secretary of the Treasury is directed to pay from time to time from the employment security administration account into the Treasury, as repayments to the account for refunding internal revenue collections, amounts equal to all refunds made after June 30, 1960, of amounts received as tax under the Federal Unemployment Tax Act (including interest on such refunds).

971

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"Administrative Expenditures "(c)(1) There are hereby authorized to be made available for expenditure out of the employment security administration account for the fiscal year ending June 30, 1961, and for each fiscal year thereafter— " (A) such amounts (not in excess of $350,000,000 for any fiscal year) as the Congress may deem appropriate for the purpose of— "(i) assisting the States in the administration of their unemployment compensation laws as provided in title III (in- 42 USC 501-503. cluding administration pursuant to agreements under any Federal unemployment compensation law, except the Temporary Unemployment Compensation Act of 1958, as H ^^^- ^^^Q ^^^ amended), note. "(ii) the establishment and maintenance of systems of public employment offices in accordance with the Act of June 6, 1933, as amended (29 U.S.C. secs. 49-49n), and 48 Stat. 113. "(iii) carrying into effect section 2012 of title 38 of the United States Code; '2 Stat. 1221. " (B) such amounts as the Congress may deem appropriate for the necessary expenses of the Department of Labor for the performance of its functions under— " (i) this title and titles III and X II of this Act, 42 USC 501-503; "(ii) the Federal Unemployment Tax Act, '^°^'' ""• ^'^• " (iii) the provisions of the Act of June 6, 1933, as amended, 29 USID" 49-4'9k "(iv) subchapter II of chapter 41 (except section 2012) 72 Stat. 1221. * of title 38 of the United States Code, and "(v) any Federal unemployment compensation law, except the Temporary Unemployment Compensation Act of 1958, as amended. "(2) The Secretary of the Treasury is directed to pay from the employment security administration account into the Treasury as miscellaneous receipts the amount estimated by him which will be expended during a three-month period by the Treasury Department for the performance of its functions under— " (A) this title and titles III and X II of this Act, including the expenses of banks for servicing unemployment benefit payment and clearing accounts which are offset by the maintenance of balances of Treasury funds with such banks.

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