60.2-117 - Use of collections in financing administrative expenditures. - Virginia Statutes

§ 60.2-117. Use of collections in financing administrative expenditures.

If § 303 (a) (5) of Title III of the Social Security Act (42 U.S.C. § 503 (a)(5)) and § 3304 (a) (4) of the Internal Revenue Code (26 U.S.C.) are amendedto permit a state agency to use, in partial or complete substitution forgrants under such Title III, for financing administrative expendituresincurred in carrying out its employment security functions, some part of themoneys collected or to be collected under the state unemployment compensationlaw, this title shall, by Commission proclamation and rules to be issued withthe Governor's approval, be modified in the manner and to the extent andwithin the limits necessary to permit such use by the Commission under thistitle. Such modifications shall become effective on the same date as such usebecomes permissible under such federal amendments.

(Code 1950, § 60-64; 1956, c. 440; 1968, c. 738, § 60.1-76; 1986, c. 480.)