AN ACT CONCERNING PAYMENTS ON ADVANCES FROM THE FEDERAL UNEMPLOYMENT ACCOUNT.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (Effective from passage) Notwithstanding the provisions of section 4-30a of the general statutes, after the accounts for the General Fund have been closed for the fiscal year ending June 30, 2014, and the Comptroller has determined the amount of unappropriated surplus in said fund and after any amounts required by provision of law to be transferred for other purposes have been deducted, the Comptroller shall transfer an amount of such surplus sufficient to repay any interest due on advances made to the state from the federal unemployment account under Title XII of the Social Security Act 42 USC, Sections 1321 to 1324, inclusive, to the State Treasurer who shall apply such funds to such interest due pursuant to subsection (d) of section 31-264a of the general statutes.

Statement of Purpose:

To pay down the state's debt and to eliminate or reduce the assessment that contributing employers must pay to the unemployment compensation administrator so that such employers may redirect their resources to creating and retaining jobs in the state.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]

H.B. 5314