42 U.S.C. § 1102 — Transfers between Federal unemployment account and employment security administration account

(a) Determination of excess; amount transferred Whenever the Secretary of the Treasury determines pursuant to section 1101(f) of this title that there is an excess in the employment security administration account as of the close of any fiscal year and the entire amount of that excess is not retained in the employment security administration account or transferred to the extended unemployment compensation account as provided in section 1101(f)(3) of this title , there must be transferred (as of the beginning of the succeeding fiscal year) to the Federal unemployment account the balance of that excess or so much thereof as is required to increase the amount in the Federal unemployment account to whichever of the following is the greater: (1) $550 million, or (2) the amount (determined by the Secretary of Labor and certified by him to the Secretary of the Treasury) equal to 0.5 percent of the total wages subject (determined without any limitation on amount) to contributions under all State unemployment compensation laws for the calendar year ending during the fiscal year for which the excess is determined. (b) Unemployment account excesses The amount, if any, by which the amount in the Federal unemployment account as of the close of any fiscal year exceeds the greater of the amounts specified in paragraphs (1) and (2) of subsection (a) must be transferred to the employment security administration account as of the close of that fiscal year. (c) Report to Congress Whenever the Secretary of Labor has reason to believe that in the next fiscal year the employment security administration account will reach the limit provided for that account in section 1101(f)(3)(A) of this title , and the Federal unemployment account will reach the limit provided for that account in subsection (a), and the extended unemployment compensation account will reach the limit provided for that account in section 1105(b)(2) of this title , he must, after consultation with the Secretary of the Treasury, so report to the Congress with a recommendation for appropriate action by the Congress.