§ 1104.
(e)
Separate book accounts
The Fund shall be invested as a single fund, but the Secretary of the Treasury shall maintain a separate book account for each State agency, the employment security administration account, the Federal unemployment account, the railroad unemployment insurance account, and the railroad unemployment insurance administration fund and shall credit quarterly (on March 31, June 30, September 30, and December 31, of each year) to each account, on the basis of the average daily balance of such account, a proportionate part of the earnings of the Fund for the quarter ending on such date. For the purpose of this subsection, the average daily balance shall be computed—
(1)
in the case of any State account, by reducing (but not below zero) the amount in the account by the balance of advances made to the State under
section 1321 of this title, and
(2)
in the case of the Federal unemployment account—
(A)
by adding to the amount in the account the aggregate of the reductions under paragraph (1), and
(f)
Payment to State agencies and Railroad Retirement Board
The Secretary of the Treasury is authorized and directed to pay out of the Fund to any State agency such amount as it may duly requisition, not exceeding the amount standing to the account of such State agency at the time of such payment. The Secretary of the Treasury is authorized and directed to make such payments out of the railroad unemployment insurance account for the payment of benefits, and out of the railroad unemployment insurance administration fund for the payment of administrative expenses, as the Railroad Retirement Board may duly certify, not exceeding the amount standing to the credit of such account or such fund, as the case may be, at the time of such payment.
([Aug. 14, 1935, ch. 531], title IX, § 904, [49 Stat. 640]; [June 25, 1938, ch. 680, § 10(e)]–(g), [52 Stat. 1104], 1105; [Oct. 3, 1944, ch. 480], title IV, § 401, [58 Stat. 789]; [Aug. 6, 1947, ch. 510, § 5(a)], [61 Stat. 794]; [Aug. 28, 1950, ch. 809], title IV, § 404(b), [64 Stat. 560]; [Aug. 5, 1954, ch. 657, § 5(b)]–(f), [68 Stat. 673]; [Pub. L. 85–927], pt. II, § 204, Sept. 6, 1958, [72 Stat. 1782]; [Pub. L. 86–346, title I, § 104(3)], Sept. 22, 1959, [73 Stat. 622]; [Pub. L. 86–778, title V, § 521], Sept. 13, 1960, [74 Stat. 976]; [Pub. L. 98–369, div. B, title VI, § 2663(d)(3)], July 18, 1984, [98 Stat. 1167]; [Pub. L. 102–318, title V, § 531(d)(3)], July 3, 1992, [106 Stat. 317].)