§ 50-7-502 — Unemployment compensation administration fund

Tennessee § 50-7-502

• Jurisdiction: Tennessee
• Title: 50

Text

(a) (1) There is created in the state treasury a special fund to be known as the unemployment compensation administration fund. (2) All moneys that are deposited or paid into this fund are appropriated and made available to the commissioner. (3) All moneys in this fund shall be expended solely for the purpose of defraying the cost of administration of this chapter, and no other purpose whatsoever. (4) The fund shall consist of all money appropriated and allotted by this state, and all moneys received from the United States, or any agencies of the United States, or from any other source, for that purpose. (5) All moneys in this fund shall be deposited, administered and disbursed in the same manner and under the same conditions and requirements that are provided by law for other special funds in the state treasury. (6) Any balances in this fund shall not lapse at any time, but shall be continuously available to the commissioner for expenditure consistent with this chapter. (7) The moneys received from any agency of the United States, or any other state or agency, as compensation for services or facilities supplied to the agency or agencies shall be paid into this fund on the same basis as expenditures are made for the services or facilities from the fund or account. (b) All moneys received from the United States secretary of labor or the secretary's successors for the administration of this chapter shall be expended solely for the purposes and in the amounts found necessary by the United States secretary of labor or the secretary's successors, for the proper and efficient administration of this chapter. (c) It is the policy of this state that any moneys received from the United States secretary of labor or the secretary's predecessors or successors under the Social Security Act, Title III ( 42 U.S.C. § 501 et seq.), or any unencumbered balances in the unemployment compensation administration fund as of that date, or any moneys granted after that date to this state pursuant to the Wagner-Peyser Act ( 29 U.S.C. § 49 et seq.), or any moneys appropriated and allocated by this state or its political subdivisions, and matched by the moneys granted to this state pursuant to the Wagner-Peyser Act, which, because of any action or contingency, have been lost or have been expended for purposes other than, or in amounts in excess of, those found necessary by the United States secretary of labor or the secretary's successors for the proper administration of the fund, shall be replaced by the state within a reasonable time to the unemployment compensation administration fund for expenditure as provided in subsection (a).

Legislative History

Acts 1947, ch. 29, § 13; C. Supp. 1950, § 6901.13 (Williams, § 6901.37); modified; T.C.A. (orig. ed.), § 50-1347; Acts 1985, ch. 118, § 71; 1987, ch. 148, §§ 8-10; 1998, ch. 772, § 1; 1999, ch. 520, § 41.