The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1939-08-31

congress or amenueu WIFI Tie IesuiI
that no portion of the contributions
required by this chapter may be credit
ed against the federal excise tax
levied by title nine of such act, the
provisions of this chapter by virtue OF
that fact shall become imperative.
All assets standing to the credit OF
the state in the Unemployment Trust
Fund in the United States Treasury
shall be requisitioned promptly by the
director. The assets of the states
account in the trust fund shall be
placed in the Unemployment Compen-
sation Fund and together with the as
sets in that fund shall be refunded
pro rata to the contributors.
Money in the administration fund
received from the federal government
shall be dealt with by the state treas
urer pursuant to the conditions OF the
grant thereof to the State of West
Virginia, and any assets therein which
have been appropriated thereto out OF
the general treasury Of the state by
the Legislature shall revert to such
general fund in the state treasury.
Corresponding action shall be taken
with respect to assets in the unemploy-
ment compensation fund, the unem-
ployment trust fund, and the admin
istration fund in the event that this
act shall be repealed by the Legis-
lature, or declared invalid under the
state constitution by the Supreme
Court of Appeals of West Virginia or
invalid under the United States con-
stitution by the Supreme Court of the
United States.
The director is hereby granted con-
tinuing authority for the purposes of
action provided for by this section in
case any of the above contingencies
occur.
Sec ID. Transfer to the Railroad
Unemployment Insurance Account
Unemployment Insurance Account
Notwithstanding any requirements OF
the foregoing sections of this article:
the director shall, prior to whichever is
the later Of QD thirty days after the
close of this session Of the Legislature
and (2) July first, one thousand nine
hundred thirty-nine, authorize and dl-
rect the Secretary of the Treasury OF
the United States to transfer from
this states account in the Unemploy-
ment Trust Fund, established and
maintained pursuant to section nine
hundred four of the Social Security
Act as amended, to the Railroad I'm
employment Insurance Account, estab-
lished and maintained pursuant to
section ten of the Railroad Unemploy-
ment Insurance Act, an amount here
matter referred to as the preliminary
amount; and shall, prior to whichever
is the later of (D thirty days after
the close of this session of the Legis
lature and (2) January first, one
thousand nine hundred forty, author
ize and direct the Secretary of the
Treasury of the United States to
transfer from this states account in
said Unemployment Trust Fund to
said Railroad Unemployment Insur
ance Account, an additional amount,
hereinafter referred to as the liqui-
dating amount. The preliminary
amount shall consist Of that proper
tion of the balance in the unemploy-
ment compensation fund as of June
thirtieth, one thousand nine hundred
thirty-nine, as the total amount of
contributions collected from "employ
ers" (as the term "employer" is de-
fined in section one-a of the Railroad
Unemployment Insurance Act) and
credited to the unemployment COM
pensation fund bears to all contribu-
tions heretofore collected under this
act and credited to the unemployment
compensation fund. The liquidating
amount shall consist of the total
amount of contributions collected from
employers" (as the term employers"
is defined in section one-a of the
Railroad Unemployment Insurance
Act) pursuant to the provisions of this
act during the period July first, one
thousand nine hundred thirty-nine to
December thirty-first, one thousand
nine hundred thirty-nine, inclusive.
Article TX.
UNEMPLOYMENT c MPEN S A :
TION ADMINISTRATION FUND
| Section
l. Administration fund.
2. Appropriation.
3. Contents of fund.
4. Disbursements.
5. Lapse.
| 6. Treasurer's bond.
7. Employment service account.
Section l. Administration Fund.
There is hereby created in the state
treasury a special fund to be known
as the unemployment compensation
administration fund. All moneys in
| this fund shall be eXnended solely for