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The Unemployment Trust Fund and Reed Act Distributions
The American Recovery and Reinvestment Act (P.L. 111-5 §2003) provided for a special UTF distribution that has some properties similar to a Reed Act distribution. The law distributes up to a total of $7.5 billion to the states through a special transfer of funds from the federal accounts within the UTF to the state accounts, using the methodology required by the Reed Act to determine the maximum state allotments. Up to $7 billion was distributed to states as incentive payments for changing certain state UC laws. Administrative funds totaling $500 million was distributed among the state accounts, regardless of whether states changed their UC laws. According to the Department of Labor, there is no projected regular Reed Act distribution through FY2021 on account outstanding loans in the UTF owed to the general fund of the U.S. Treasury. This report will be updated if legislative activity affects Reed Act distributions.
This package includes following files:
| # | File Name | Document Date | Order ID: | Number of Pages | Price | |
|---|---|---|---|---|---|---|
| 1 |
RS22006.pdf
|
Sep 12, 2012 | RS22006 | 4 | $19.95 | Add to Cart |
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RS22006.pdf