§ 52-04-22 — Federal advance interest repayment fund - Continuing appropriation

North Dakota § 52-04-22

• Jurisdiction: North Dakota
• Title 52: Social Security
• Ch. 52-04: Contributions

Text

Any such amounts placed in the state unemployment compensation fund may be used to
pay unemployment compensation benefits and to repay title XII advances from the federal
unemployment trust fund. Any such amounts placed in the federal advance interest repayment
fund may be used to pay interest on title XII advances from the federal unemployment trust
fund.
Job service North Dakota may repay funds borrowed from the Bank of North Dakota, which
are placed in the state unemployment compensation fund, from amounts in the state
unemployment compensation fund. Job service North Dakota may also repay funds borrowed
from the Bank of North Dakota which are placed in the federal advance interest repayment fund,
from amounts in the federal advance interest repayment fund. However, any interest due on any
borrowed funds whatsoever may not be paid from amounts in the state unemployment
compensation fund. Interest due on such borrowed funds must be paid from the federal
advance interest repayment fund.
52-04-22. Federal advance interest repayment fund - Continuing appropriation.
There is created the federal advance interest repayment fund, to which will be credited all
assessments collected by the division for the purpose of paying interest due on federal
advances to the state trust fund. The fund must consist of all interest collected on delinquent
contributions, all penalties provided by the North Dakota unemployment compensation law, and
funds borrowed from sources other than federal advances which are placed in this fund. All
moneys accruing to this fund in any manner must be maintained in this separate
interest-bearing account at the Bank of North Dakota or invested in deposits of the Bank of
North Dakota.
Moneys in this fund may also be used for the purpose of repaying funds placed in this fund
which are borrowed from sources other than federal advances and for the purpose of paying
interest due on other than federal advances.
Moneys in this fund may also be used for the purpose of paying principal and interest costs
associated with the acquisition and renovation of land and a building to be used as an office
facility by job service North Dakota in Grand Forks, North Dakota. Moneys in this fund also may
be used for the purpose of paying principal and interest costs associated with the acquisition
and renovation of land and building to be used as an office facility by job service North Dakota
in Bismarck, North Dakota. Moneys in this fund also may be used for the purpose of paying
building lease costs of office facilities leased by job service North Dakota. Moneys in this fund
may be used for the purpose of paying the costs of repair, renovation, or alteration of job
service-owned office facilities. Moneys in this fund may be used for the purpose of paying the
replacement rate charged for use of state fleet vehicles. Moneys in this fund may be used for
the purposes of re-employment programs to ensure the integrity of the unemployment insurance
program in this state. Moneys in this fund may be used to administer the unemployment
insurance program and may be used to pay expenses incurred by job service North Dakota
which are not payable with federal grant or state general funds. Moneys in this fund are hereby
appropriated for the purposes specified in this section including the purpose of paying principal
and interest costs associated with the acquisition and renovation of land and a building to be
used as an office facility by job service North Dakota in Grand Forks, North Dakota. Moneys in
this fund are appropriated for the purpose of paying the principal and interest costs associated
with the acquisition and renovation of land and a building to be used as an office facility by job
service North Dakota in Bismarck, North Dakota. Moneys in this fund are appropriated for the

purpose of paying building lease costs of office facilities leased by job service North Dakota.
Moneys in this fund are appropriated for the purpose of paying the costs of repair, renovation, or
alteration of job service-owned office facilities. Moneys in this fund are appropriated for the
purpose of paying the replacement rate charged for use of state fleet vehicles. Moneys in this
fund are appropriated for the purposes of re-employment programs to ensure the integrity of the
unemployment insurance program in this state. Moneys in this fund are appropriated to
administer the unemployment insurance program and to pay expenses incurred by job service
North Dakota which are not payable with federal grant or state general funds. The federal
advance interest payment fund must maintain a minimum balance to pay interest due on
advances to the state trust fund. The minimum balance must be calculated annually by
multiplying the average calendar year benefits paid for the preceding five completed calendar
years by one percent. The federal advance interest repayment fund may drop below the annual
minimum balance only if payment is required on interest due on advances to the state trust
fund.