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U.S. Code as of:
01/19/04
Section 1110. Borrowing between Federal accounts
(a) In general
Whenever the Secretary of the Treasury (after consultation with
the Secretary of Labor) determines that -
(1) the amount in the employment security administration
account, Federal unemployment account, or extended unemployment
compensation account, is insufficient to meet the anticipated
payments from the account,
(2) such insufficiency may cause such account to borrow from
the general fund of the Treasury, and
(3) the amount in any other such account exceeds the amount
necessary to meet the anticipated payments from such other
account,
the Secretary shall transfer to the account referred to in
paragraph (1) from the account referred to (!1) paragraph (3) an
amount equal to the insufficiency determined under paragraph (1)
(or, if less, the excess determined under paragraph (3)).
(b) Treatment of advance
Any amount transferred under subsection (a) of this section -
(1) shall be treated as a noninterest-bearing repayable
advance, and
(2) shall not be considered in computing the amount in any
account for purposes of the application of sections 1101(f)(2),
1102(b), and 1105(b) of this title.
(c) Repayment
Whenever the Secretary of the Treasury (after consultation with
the Secretary of Labor) determines that the amount in the account
to which an advance is made under subsection (a) of this section
exceeds the amount necessary to meet the anticipated payments from
the account, the Secretary shall transfer from the account to the
account from which the advance was made an amount equal to the
lesser of the amount so advanced or such excess.
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