MODIFICATIONS TO FEDERAL UNEMPLOYMENT ACCOUNTS.

SEC. 531. MODIFICATIONS TO FEDERAL UNEMPLOYMENT ACCOUNTS. (a) Modifications to Extended Unemployment Compensation Account.— (1) Transfers to account.— Paragraph (1) of section 905(b) of the Social Security Act is amended to read as follows— “(b) (1) Except as provided in paragraph (3), the Secretary of the Treasury shall transfer (as of the close of each month), from 106 STAT. 316the employment security administration account to the extended unemployment compensation account established by subsection (a), an amount determined by him to be equal to the sum of— “(A) 100 percent of the transfers to the employment security administration account pursuant to section 901(b)(2) during such month on account of liabilities referred to in section 901(b)(1)(B), plus “(B) 20 percent of the excess of the transfers to such account pursuant to section 901(b)(2) during such month on account of amounts referred to in section 901(b)(1)(A) over the payments during such month from the employment security administration account pursuant to section 901 (b)(3) and (d). If for any such month the payments referred to in subparagraph (B) exceed the transfers referred to in subparagraph (B), proper adjustments shall be made in the amounts subsequently transferred.” (2) Increase in ceiling.—Subparagraph (B) of section 905(b)(2) of such Act is amended by striking “three-eighths of 1 percent” and inserting “0.5 percent”. (b) Reduction of Ceiling on Federal Unemployment Account.—Paragraph (2) of section 902(a) of such Act is amended by striking “five-eighths of 1 percent” and inserting “0.25 percent”. (c) Borrowing Between Federal Accounts.—Title IX of such Act is amended by adding at the end the following new section: “borrowing between federal accounts “Sec. 910. (a) In General.—Whenever the Secretary of the Treasury (after consultation with the Secretary of Labor) determines that— “(1) the amount in the employment security administration account, Federal unemployment account, or extended unemployment compensation account, is insufficient to meet the anticipated payments from the account, “(2) such insufficiency may cause such account to borrow from the general fund of the Treasury, and “(3) the amount in any other such account exceeds the amount necessary to meet the anticipated payments from such other account, the Secretary shall transfer to the account referred to in paragraph (1) from the account referred to paragraph (3) an amount equal to the insufficiency determined under paragraph (1) (or, if less, the excess determined under paragraph (3)). “(b) Treatment of Advance.—Any amount transferred under subsection (a)— “(1) shall be treated as a noninterestbearing repayable advance, and “(2) shall not be considered in computing the amount in any account for purposes of the application of sections 901(f)(2), 902(b), and 905(b). “(c) Repayment.—Whenever the Secretary of the Treasury (after consultation with the Secretary of Labor) determines that the amount in the account to which an advance is made under sub-section (a) exceeds the amount necessary to meet the anticipated payments from the account, the Secretary shall transfer from the account to the account from which the advance was made an amount equal to the lesser of the amount so advanced or such excess.” (d) Repeal of Expired Provisions.— 106 STAT. 317 (1) Paragraph (2) of section 901(f) of such Act is amended— (A) by striking “(A) Except as provided in subparagraph (B), the” and inserting “The”, and (B) by striking subparagraph (B). (2) Section 901 of such Act is amended by striking subsection (g). (3) Subsection (g) of section 904 is amended by striking all of such subsection that follows the 1st sentence. (e) Effective Dates.— (1) In general.—Except as provided in paragraph (2), the amendments made by this section shall take effect on the date of the enactment of this Act. (2) Changes in ceiling amounts.—The amendments made by subsection (a)(2) and (b) shall apply to fiscal years beginning after September 30, 1993.