42 U.S.C. § 6722 — Financial assistance
submitted 50 years ago by Pub. L. 94-369 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 264 words · no verdicts yet
The Secretary of the Treasury must make payments to State and local governments to coordinate their budget actions with Federal economic-recovery efforts. The section authorizes quarterly amounts based on unemployment, subject to a total cap and termination rules.
(a) Payments to State* and local governments. The Secretary* of the Treasury, called the “Secretary” in this subchapter, must make payments under this subchapter to States and local governments to coordinate their budget actions with Federal economic-recovery efforts.
(b) Authorization of appropriations. Subject to (c) and (d), Congress may appropriate for each of the five quarters beginning July 1, 1977: (1) $125,000,000, plus (2) $30,000,000 multiplied by the number of whole one-tenth percentage points by which seasonally adjusted national unemployment in the most recent quarter ending three months earlier exceeded 6 percent.
(c) Aggregate authorization. The total authorized for those five quarters may not exceed $2,250,000,000.
(d) Termination. Nothing may be authorized for a quarter if (1) average national unemployment in the quarter ending three months earlier did not exceed 6 percent, or (2) unemployment in that earlier quarter’s last month did not exceed 6 percent.
The Secretary* of the Treasury (hereafter in this subchapter referred to as the “Secretary”) shall, in accordance with the provisions of this subchapter, make payments to States and to local governments to coordinate budget-related actions by such governments with Federal Government efforts to stimulate economic recovery.
Subject to the provisions of subsections (c) and (d), there are authorized to be appropriated for each of the five succeeding calendar quarters (beginning with the calendar quarter which begins on July 1, 1977) for the purpose of payments under this subchapter—
$125,000,000, plus
$30,000,000 multiplied by the number of whole one-tenth percentage points by which the rate of seasonally adjusted national unemployment for the most recent calendar quarter which ended three months before the beginning of such quarter exceeded 6 per centum.
In no case shall the aggregate amount authorized to be appropriated under the provisions of subsection (b) for the five successive calendar quarters beginning with the calendar quarter which begins July 1, 1977, exceed $2,250,000,000.
No amount is authorized to be appropriated under the provisions of subsection (b) for any calendar quarter if—
the average rate of national unemployment during the most recent calendar quarter which ended three months before the beginning of such calendar quarter did not exceed 6 percent, or
the rate of national unemployment for the last month of the most recent calendar quarter which ended three months before the beginning of such calendar quarter did not exceed 6 percent.
Source credit: (Pub. L. 94–369, title II, § 202, July 22, 1976, 90 Stat. 1002; Pub. L. 94–447, title II, § 201(1), Oct. 1, 1976, 90 Stat. 1498; Pub. L. 95–30, title VI, § 602, May 23, 1977, 91 Stat. 164.)
- 1976Enacted · Pub. L. 94-369 · 90 Stat. 1002
- 1976Amended · Pub. L. 94-447 · 90 Stat. 1498
- 1977Amended · Pub. L. 95-30 · 91 Stat. 164
A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-369 on 1976-07-22.
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