45 U.S.C. § 403 — Appropriation to railroad unemployment insurance account; transfer and repayment of funds; interest
submitted 65 years ago by Pub. L. 87-7 to r/title-45-RAILROADS · 90 words · no verdicts yet
Congress can send as much money as needed to the railroad unemployment insurance account, with no yearly limit. The Secretary of the Treasury moves the money in after talking with the Railroad Retirement Board. These transfers are loans that must be repaid, but they charge no interest.
There are authorized to be appropriated to the railroad unemployment insurance account, without fiscal year limitation, such amounts as may be necessary to carry out the provisions of this chapter. The amounts so appropriated shall be transferred from time to time to the railroad unemployment insurance account on the basis of estimates by the Secretary of the Treasury after consultation with the Railroad Retirement Board of the amounts required from time to time to carry out the provisions of this chapter. Amounts so transferred shall be repayable advances without interest.
Source credit: (Pub. L. 87–7, § 4, Mar. 24, 1961, 75 Stat. 17; Pub. L. 88–133, title III, § 303(c), Oct. 5, 1963, 77 Stat. 222.)
- 1961Enacted · Pub. L. 87-7 · 75 Stat. 17
- 1963Amended · Pub. L. 88-133 · 77 Stat. 222
A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-7 on 1961-03-24.
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