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172 PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW
(3) For repayment of outstanding interest-bearing advances received
under Title XII of the Social Security Act.
(4) For transfer to the Unemployment Compensation Fund pursuant to
subsection (b), for payment of compensation to individuals.
(b) Any amount of moneys remaining in this fund at the end of a calendar
year shall be transferred to the Unemployment Compensation Fund and
credited to the Employers' Contribution Account as specified in section
601 if the following requirements are met:
(1) the balance of interest-bearing advances under Title XII of the
Social Security Act (58 Stat. 790, 42 U.S.C. § 1321 et seq.) is zero
at the end of that year;
(2) no interest on advances shall be due in the following year; and
(3) there are no outstanding bond obligations and bond administration
expenses under Article XIV of this act and no such obligations and
expenses will be due in the following year.
(c) Pending application for the purposes authorized, moneys held or deposited
by the State Treasurer in the Debt Service Fund may be invested or reinvested
as are other funds in the custody of the State Treasurer in the manner provided
by law. All earnings received from the investment or deposit of moneys shall be
paid into the State Treasury to the credit of the Debt Service Fund. (601.2 amended June 12, 2012, P.L.577, No.60) Section 601.3. Unemployment Compensation Trigger Reserve Account.- -There is hereby established within the General Fund of the State Treasury a special account, which shall be known as the Unemployment Compensation Trigger Reserve Account, for the purpose of supplementing the Unemployment Compensation Fund established under section 601. There shall be deposited in this special account such moneys as are transferred from the State Workmen's Insurance Fund. Any amounts in the Unemployment Compensation Trigger Reserve Account shall be maintained separate and apart from the Unemployment Compensation Fund unless and until transferred to the Unemployment Compensation Fund in accordance with section 301.7(d). Any interest earned on the principal of the Unemployment Compensation Trigger Reserve Account shall be deposited into the State Workmen's Insurance Fund. Any amounts