Bill Summary for S 6 (2013-2014)
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| View NCGA Bill Details | 2013-2014 Session |
AN ACT TO TRANSFER FUNDS TO THE UNEMPLOYMENT INSURANCE FUND TO MAKE PRINCIPAL PAYMENTS ON THE TWO AND ONE-HALF BILLION DOLLAR ADVANCE MADE BY THE FEDERAL GOVERNMENT TO THE UNEMPLOYMENT INSURANCE FUND TO PAY UNEMPLOYMENT COMPENSATION BENEFITS.Intro. by Rucho, Rabon, Brock.
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Bill summary
Senate committee substitute makes the following changes to the 1st edition.
Changes long title.
Deletes all provisions and language from the 1st edition.
Directs the Office of State Budget and Management, with the Office of the State Controller and the Department of Commerce, to transfer and allocate to the Unemployment Insurance Fund (UI Fund) any unencumbered cash balance as of June 30, 2013, from the Worker Training Trust Fund and the Training and Employment account. These special funds will then be closed after the transfer.
Provides for the appropriation from the Special Employment Security Administration Fund to the Unemployment Insurance Fund in the amount of $10 million for the 2013-14 fiscal year, to be used for principal payments on advances made by the federal government to the UI Fund for unemployment compensation benefits.
Effective July 1, 2013.