§ 8-1111. Extended Benefits Fund[Section subject to abrogation]

   (a) "Net costs" defined. -- In this section, "net costs" means benefits payable under this subtitle and that are reimbursed dollar for dollar to the Unemployment Insurance Fund established under § 8-401 of this title less estimated tax revenue payable in connection with the benefits payable under this subtitle.

(b) Established; nature; purpose; use; investment. --

   (1) There is an Extended Benefits Fund in the State Treasury.

   (2) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.

   (3) The Fund may be used only to reimburse net costs for claims filed under § 8-1103(f) of this title.

   (4) (i) The purpose of the Fund is to reimburse counties and municipal corporations for net costs, as determined by the Secretary.

      (ii) The Fund may be used to reimburse an association that is voluntary, nonprofit, and controlled and maintained by municipal corporations for net costs, as determined by the Secretary.

   (5) The Treasurer shall hold the Fund separately, and the Secretary shall administer the Fund.

   (6) The Treasurer shall invest and reinvest the Fund in the same manner as other State funds.

(c) Composition. -- The Fund shall consist of:

   (1) money appropriated in the State budget to the Fund;

   (2) investment earnings of the Fund; and

   (3) any other money from any other source accepted for the benefit of the Fund.

(d) Distribution. -- The Secretary shall ensure that the money in the Fund is distributed in the manner that best accomplishes the purpose of the Fund.

HISTORY: 2011, ch. 170.