§ 19-5-706 - Unemployment Compensation Revolving Fund. - Arkansas Statutes

19-5-706. Unemployment Compensation Revolving Fund.

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the Unemployment Compensation Revolving Fund.

(b) This fund shall consist of employer unemployment contributions made under 19-5-707 and temporary loans from the Budget Stabilization Trust Fund received under 19-5-709.

(c) The funds shall be used to reimburse the Department of Workforce Services, in a timely manner, for unemployment compensation benefits paid by the department and charged to a state agency, as provided in this subchapter and other laws applicable to state employees' unemployment compensation and for such other purposes as may be authorized by law.