REPAYMENT OF STATE LOANS.

SEC. 201. REPAYMENT OF STATE LOANS. (a) General Rule.—The last sentence of section 3302(c) (2) of the Internal Revenue Code of 1954 (relating to reduction in credits against unemployment tax) is amended by striking out “January 1, 1978” each place it appears and inserting in lieu thereof “January 1, 1980”. (b) State Requirements.—The amendment made by subsection (a) shall not apply in the case of any State unless the Secretary of Labor finds that such State meets the requirements of section 110(b) of the Emergency Compensation and Special Unemployment Assistance Extension Act of 1975.