§ 28-42-76 - Disbursements from interest fund – Unexpended balance. - Rhode Island Statutes

SECTION 28-42-76

   § 28-42-76  Disbursements from interestfund – Unexpended balance. – (a) The moneys in the interest fund shall be used solely for the followingpurposes:

   (1) To make refunds of interest erroneously collected anddeposited in the fund;

   (2) To make payments of interest due on federal advancesreceived from the federal unemployment account under 42 U.S.C. § 1321 etseq., in accordance with federal law and regulations then in effect; and

   (3) To maintain essential department programs.

   (b) The general treasurer shall pay all vouchers duly drawnby the director upon the interest fund, in any amounts and in any manner thatthe director may prescribe. Vouchers so drawn upon the interest fund shall bereferred to the controller within the department of administration. Uponreceipt of those vouchers, the controller shall immediately record and signthem and shall promptly transfer those vouchers so signed to the generaltreasurer; provided, that those expenditures shall be used solely for thepurposes specified in this section and its balances shall not lapse at any time.