Idaho State Statutes - Idaho Attorney Directory

(1) Establishment and Control. There
is established in the state treasury, separate and apart from all other funds
of this state, an "Employment Security Fund," which shall be perpetually
appropriated to the director to be administered pursuant to the provisions of
this chapter and the social security act. This fund shall consist of all
contributions collected pursuant to this chapter, payments in lieu of
contributions, interest earned upon any moneys in the fund, any property or
securities acquired through the use of moneys belonging to the fund, all
earnings of such property or securities, moneys temporarily deposited in the
clearing account, and all other moneys received for the fund from any other
source.
(2) Accounts and Deposits. The state controller shall maintain within the
fund three (3) separate accounts: (i) a clearing account, (ii) an unemployment
trust fund account, and (iii) a benefit account. Upon receipt by the director,
all moneys payable to the fund shall be promptly forwarded to the state
treasurer for immediate deposit in the clearing account. After clearance, all
moneys in the clearing account shall, except as otherwise provided, be
deposited promptly with the secretary of the treasury of the United States to
the credit of this state's account in the federal unemployment trust fund
established and maintained pursuant to section 904 of the social security act
(42 U.S.C. 1104), any provisions of law in this state to the contrary
notwithstanding. The benefit account shall consist of all moneys requisitioned
for the payment of benefits from this state's account in the federal
unemployment trust fund. Moneys in the clearing and benefit accounts may be
deposited by the state treasurer under the direction of the director in any
depository bank in which general funds of the state may be deposited, but no
public deposit insurance charge or premium shall be paid out of the fund.
Moneys in the clearing and benefit accounts shall not be commingled with other
state funds and shall be maintained in separate accounts on the books of the
depository bank. Such moneys shall be secured by the depository bank in the
same manner as required by the general public depository law of this state and
collateral pledged for this purpose shall be kept separate and distinct from
collateral pledged to secure other funds of the state. The state treasurer
shall be liable on his official bond for the faithful performance of his
duties in connection with the employment security fund.
(3) Withdrawals. Moneys requisitioned by the director through the
treasurer from this state's account in the federal unemployment trust fund
shall be used exclusively for the payment of benefits and for refunds pursuant
to section 72-1357, Idaho Code, except that Reed act moneys credited to this
state's account pursuant to section 903 of the social security act (42 U.S.C.
1103), shall be used exclusively as provided in subsection (4) of this
section. The director through the treasurer shall requisition from the federal
unemployment trust fund such amounts, not exceeding the amounts standing to
this state's account therein, as he deems necessary for the payment of
benefits and refunds for a reasonable period. Upon receipt, such moneys shall
be deposited in the benefit account. Expenditures of moneys in the benefit and
clearing accounts shall not require the approval of the board of examiners or
be subject to any provisions of law requiring specific appropriations or other
formal release by state officers of money in their custody. The residual daily
balance in the benefit account may be invested in accordance with the cash
management improvement act of 1990, and earnings on those investments may be
used to pay the related banking costs of maintaining the benefit account. Any
earnings in excess of the related banking costs shall be returned to the
state's account in the federal unemployment trust fund annually. All warrants
issued for the payment of benefits and refunds shall bear the signature of the
director. Upon agreement between the director and state controller, amounts in
the benefit account may be transferred to a revolving account established and
maintained in a depository bank from which the director may issue checks for
the payment of benefits and refunds. Moneys so transferred shall be deposited
subject to the same requirements as provided with respect to moneys in the
clearing and benefit accounts in subsection (2) of this section. Any balance
of moneys requisitioned from the federal unemployment trust fund which remains
unclaimed or unpaid in the benefit account or revolving account after the
expiration of the period for which such sums were requisitioned, may be
utilized for the payment of benefits and refunds during succeeding periods,
or, in the discretion of the director, shall be redeposited with the secretary
of the treasury of the United States to the credit of this state's account in
the federal unemployment trust fund.
(4) Reed Act Moneys. Reed act moneys credited to this state's account in
the federal unemployment trust fund by the secretary of the treasury of the
United States pursuant to section 903 of the social security act (42 U.S.C.
1103) may be requisitioned and used for the payment of benefits and for the
payment of expenses incurred for the administration of this chapter. Moneys
may only be requisitioned and used for the payment of expenses incurred for
the administration of this chapter if the expenses are incurred and the money
is requisitioned after the enactment of a specific appropriation by the
legislature which specifies the purposes for which such money is appropriated
and the amounts appropriated therefor. Such appropriation is subject to the
following conditions:
(a) Such money may not be obligated after the close of the two (2) year
period which began on the date of the enactment of the appropriation law;
and
(b) The amount which may be obligated at any time may not exceed the
amount by which the aggregate of the amounts transferred to the account of
this state pursuant to section 903 of the social security act (42 U.S.C.
1103) exceeds the aggregate of the amounts used by this state and charged
against the amounts transferred to the account of this state. For the
purposes of this subsection, amounts obligated for administrative purposes
pursuant to an appropriation shall be chargeable against transferred
amounts at the exact time the obligation is entered into.
(5) Reed act moneys requisitioned for the payment of benefits shall be
deposited in the benefit account established in this section. Reed act moneys
requisitioned for the payment of administrative expenses pursuant to a
specific appropriation shall be deposited in the employment security
administration fund, section 72-1347, Idaho Code, except that moneys
appropriated for the purchase of lands and buildings shall be deposited in the
state employment security administrative and reimbursement fund in accordance
with section 72-1348, Idaho Code. Money so deposited shall, until expended,
remain part of the employment security fund and, if not expended, shall be
promptly returned to this state's account in the federal unemployment trust
fund.

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