84 STAT. ]
PUBLIC LAW 91-373-AUG. 10, 1970
715
(b) Section 901(d) of the Social Security Act is amended by—^ 42 USC iloi. (1) deleting the reference to "section 3302(c)(2) or (3) " in subparagraph (A)(i) and inserting in place thereof "section 3302(c)(3); (2) deleting the final sentence in paragraph (1); (3) deleting paragraph (2) and redesignating paragraph (3) as paragraph (2). (c) Section 901(e)(2) of the Social Security Act is amended effective July 1, 1972, by deleting "is $250,000,000" and inserting in lieu thereof "equals 40 percent of the amount of the total appropriation by the Congress out of the employment security administration account for the preceding fiscal year". (d) Effective with respect to fiscal years after June 30, 1972, section 74 Stat. 9 7 3. 901(f) of the Social Security Act is amended— (1) by inserting "and section 9 0 1 (f)(3)(C) " after "section 83 Stat. 9 3. 9 0 2 (b) " i n paragraph (2)(A); and (2) by revising paragraph (3) to read as follows: "(3)(A) The excess determined as provided in paragraph (2) as of the close of any fiscal year after June 30, 1972, shall be retained (as of the beginning of the succeeding fiscal year) in the employment security administration account until the amount in such account is equal to 40 percent of the amount of the total appropriation by the Congress out of the employment security administration account for the fiscal year for which the excess is determined. Three-eighths of the amount in the employment security administration account as of the beginning of any fiscal year after June 30, 1972, or $150 million, whichever is the lesser, is authorized to be made available for such fiscal year pursuant to subsection (c)(1) for additional costs of administration due to an increase in the rate of insured unemployment for a calendar quarter of at least 15 percent over the rate of insured unemployment for the corresponding calendar quarter in the immediately preceding fiscal year. " (B) If the entire amount of the excess determined as provided in paragraph (2) as of the close of any fiscal year after June 30, 1972, is not retained in the employment security administration account, there shall be transferred (as of the beginning of the succeeding fiscal year) to the extended unemployment compensation account the balance of such excess or so much thereof as is required to increase the amount in the extended unemployment compensation account to the limit provided in section 905(b)(2). 7775 Stat. 5 1 IS; Stat. . " (C) If as of the close of any fiscal year after June 30, 1972, "42^50 Vios. the amount in the extended unemployment compensation account exceeds the limit provided in section 905(b)(2), such excess shall be transferred to the employment security administration account as of the close of such fiscal year."
SEC. 304. TRANSFERS TO FEDERAL UNEMPLOYMENT ACCOUNT AND REPORT TO CONGRESS. (a) So much of section 902 of the Social Security Act as precedes subsection (b) is amended to read as follows:
74 Stat. 974. 42 USC 1102.
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