Current with changes from the 2024 Legislative Session
Section 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.(2) The amount requisitioned under paragraph (1) of this subsection may not exceed the amount of money in the account.(3) Laws that require an appropriation or other formal release of money in the custody of State officers do not apply when money that was requisitioned under this subsection is used to pay a benefit or refund from the benefit account or a refund from the clearing account.(4) After expiration of the period for which a requisition is made under paragraph (1) of this subsection, if money remains unpaid or unclaimed in the benefit account the Secretary may: (i) deduct the amount of the money from estimates for a future requisition under paragraph (1) of this subsection; or(ii) redeposit the money in the account of the State in the Unemployment Trust Fund as provided under § 8-404(d) of this subtitle.(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 Act 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.(2) Money that is appropriated under this subsection: (i) shall be requisitioned as needed for payment of obligations incurred under the appropriation and shall be deposited in the Unemployment Insurance Administration Fund for use of that Fund;(ii) until used, shall remain part of the Unemployment Insurance Fund; and(iii) if not used, promptly shall be returned to the account of the State in the Unemployment Trust Fund.(3) The Secretary shall keep a separate record of the deposit, obligation, use, and return of money appropriated under this subsection.(4) An appropriation that is enacted under this subsection shall:(i) specify the purpose and amount of the appropriation;(ii) limit the period in which the appropriation is obligated to no more than 2 years after its enactment; and(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.(5) An amount that is credited to the State Unemployment Trust Fund Account under § 903 of the Social Security Act and that is obligated for administration or paid out for benefits shall be charged against an equivalent amount that first is credited and that is not already charged.(6) An amount obligated for administration during a 12-month period may not be charged against an amount that was credited before the 34th 12-month period before that period.