§ 3133 — Authority to borrow federal funds

The Department is authorized to enter into such agreement as may be necessary to secure any advance or grant of funds by the Secretary of the Treasury of the United States in accordance with the authority extended under § 1201 of the federal Social Security Act (42 U.S.C. § 1321), as amended, or under any other act of Congress extending such authority.

Any amount transferred to the Unemployment Trust Fund by the Secretary of the Treasury of the United States under the terms of any agreement entered into in accordance with the authority extended in this section shall be repaid to the Secretary of the Treasury of the United States from the Unemployment Trust Fund.

Interest on interest-bearing advances from the federal government for the payment of unemployment compensation benefits shall be paid in a timely manner, as prescribed by the Secretary of Labor of the United States, from the Special Administration Fund for the Department of Labor as provided in § 3166 of this title.

Legislative History

19 Del. C. 1953, § 3134; 52 Del. Laws, c. 18, § 1 ; 57 Del. Laws, c. 669, § 4G ; 64 Del. Laws, c. 158, § 1 ; 64 Del. Laws, c. 427, § 1