Tennessee § 50-7-503 - Unemployment compensation special administrative fund.

§ 50-7-503. Unemployment compensation special administrative fund.

There is created in the state treasury a fund to be known as the “unemployment compensation special administrative fund,” which shall consist of interest collected on delinquent payments pursuant to § 50-7-404(a), the penalty rate payments collected under § 50-7-403(b)(2)(G)(i)(b ), the civil money penalties collected under § 50-7-403(b)(2)(G)(ii), penalties collected in accordance with § 50-7-715(b)(2), and interest collected in accordance with § 50-7-715(c)(1). Annual estimates of expenditures and requirements from this fund shall be set forth in the budget document, and estimates approved by the general assembly shall be appropriated from this fund as a specific appropriation item in each year's general appropriations act. No sum sufficient appropriation shall be made from this fund that may add to estimates approved and appropriated by the general assembly, except for subdivisions (a)(1) and (2). The moneys deposited with the fund may be used for the following purposes: Replacements in the unemployment compensation administration fund as provided in § 50-7-502(c); Refunds pursuant to § 50-7-404(f) of interest erroneously collected; and Meeting necessary expenses for the administration of this chapter, including, but not limited to, automation expenses, as approved by the commissioner of finance and administration, the information systems council, and any other entity as required by law. Interest earned on this fund shall be credited to and augment this fund. The balance of this fund and the balance of the unemployment compensation trust fund shall be considered for purposes of establishing the applicable premium table pursuant to § 50-7-403(j). Acts 1947, ch. 29, § 13; C. Supp. 1950, § 6901.13 (Williams, § 6901.37); Acts 1981, ch. 249, §§ 6, 7; T.C.A. (orig. ed.), § 50-1348; Acts 1984, ch. 786, § 5; 1985, ch. 294, §§ 1-6; 1989, ch. 545, §§ 1-3; 1997, ch. 431, §§ 1, 2; 1999, ch. 520, § 41; 2005, ch. 357, § 10; 2012, ch. 824, § 6; 2015, ch. 95, § 7. Amendments. The 2015 amendment rewrote (a)(1) which read: “There is created in the state treasury a fund to be known as the “unemployment compensation special administrative fund,” which shall consist of interest collected on delinquent payments pursuant to § 50-7-404(a) and, except as provided in § 50-7-501(a)(1)(I) , all fines and penalties collected pursuant to this chapter, including the penalty rate payments collected under § 50-7-403(b)(2)(G)(i) (b ), the civil money penalties collected under § 50-7-403(b)(2)(G)(ii) , and fees, penalties, or interest collected in accordance with the federal Treasury Offset Program described in § 6402 of the Internal Revenue Code, compiled in 26 U.S.C. § 6402 , and 31 CFR part 285, 42 U.S.C. § 503(a) .” Effective Dates. Acts 2015, ch. 95, § 9. July 1, 2015.