Nevada § 612.615 - Creation; source and use of money

§ 612.615. Creation; source and use of money

1. There is hereby created the Employment Security Fund as a special revenue fund. 2. Except as otherwise provided in paragraph (a) of subsection 6 of NRS 612.445 , all interest and forfeits collected under NRS 612.618 to 612.675 , inclusive, 612.7102 to 612.7116 , inclusive, and 612.740 must be paid into the Fund. 3. All money which is deposited or paid into the Fund is hereby appropriated and made

available to the Administrator or for any other purpose authorized by the Legislature. The money may not be expended or made available for expenditure in any manner which

would permit its substitution for, or a corresponding reduction in, federal payments

which would, in the absence of this money, be available to finance expenditures for

the administration of the employment security laws of the State of Nevada. 4. This section does not prevent this money from being used as a revolving fund to

cover expenditures, necessary and proper under the law, for which federal payments

have been duly requested but not yet received, subject to the repayment to the Fund

of such expenditures when received. 5. Except as otherwise provided in this section, money in this Fund available to the

Administrator must be used by the Administrator for the payment of costs of: (a) Administration which are found not to have been properly and validly chargeable

against federal grants received for or in the Unemployment Compensation Administration

Fund; or (b) Any program or the implementation of procedures deemed necessary by the Administrator

to ensure the proper payment of benefits and collection of contributions and reimbursements

pursuant to this chapter or for any other purpose authorized by the Legislature. 6. The Administrator may use money deposited in this Fund from a penalty imposed pursuant

to paragraph (b) of subsection 6 of NRS 612.445 for any purpose that furthers the integrity of the system of unemployment compensation

established pursuant to this chapter. 7. Any balances in this Fund do not lapse at any time, but are continuously available

to the Administrator for expenditure consistent with this chapter. 8. Money in this Fund must not be commingled with other state money, but must be maintained

in a separate account on the books of the depositary.