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
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
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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