§ 360. Railroad unemployment insurance account

Footnotes

1. 1 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1938

   Pub. L. 75–680 § 10 · 52 Stat. 1094

   Enacted · 45 U.S.C. § 360

   June 25, 1938, ch. 680, § 10 (less (e)–(g)), 52 Stat. 1104

   Source evidence

   Code source credit
   June 25, 1938, ch. 680, § 10 (less (e)–(g)), 52 Stat. 1104

   Enacted provision · exact public law section
   Sec. 10. railroad unemployment insurance account (a) The Secretary of the Treasury shall maintain in the unemployment trust fund established pursuant to section 904 of 49 Stat. 640. 42 U. S. C., Supp. III, § 1104. Composition. the Social Security Act an account to be known as the railroad unemployment insurance account. This account shall consist of (i) 90 per centum of all contributions collected pursuant to section Ante, p. 1102. 8 of this Act, together with all interest thereon collected pursuant to section 8 of this Act; (ii) all amounts transferred or paid into Post, pp. 1110, 1112. the account pursuant to section 13 or section 14 of this Act; (iii) all additional amounts appropriated to the account in accordance with any provision of this Act or with any provision of law now or hereafter adopted; (iv) a proportionate part of the earnings of the unemployment trust fund, computed in accordance with tire provisions 49 Stat. 641. 42 U. S. C., Supp. III, § 1104 (e). of section 904 (e) of the Social Security Act; (v) all amounts realized in recoveries for overpayments or erroneous payments of benefits; (vi) all amounts transferred thereto pursuant Post, p. 1105. to section 11 of this Act; (vii) all fines or penalties collected pursuant to the provisions of this Act; and (viii) all amounts credited Ante, p. 1097; post, p. 1108. Availability for expenditure. thereto pursuant to section 2 (g) or section 12 (g) of this Act. Notwithstanding any other provision of law, all moneys credited to the account shall be mingled and undivided, and are hereby permanently appropriated to the Board to be continuously available to the Board without further appropriation, for the payment of benefits and refunds under this Act, and no part thereof shall lapse at any time, or be carried to the surplus fund or any other fund. (b) Restriction on use. All moneys in the account shall be used solely for the payment Certification of names of beneficiaries. of the benefits and refunds provided for by this Act. The Board shall, from time to time, certify to the Secretary of the Treasury the name and address of each person or company entitled to receive benefits or a refund payment under this Act, the amount of such payment, and Payments prior to audit. the time at which it shall be made. Prior to audit or settlement by the General Accounting Office, the Secretary of the Treasury, through the Division of Disbursements of the Treasury Department, shall make payments from the account directly to such person or company of the amount of benefits or refund so certified by the Board: Provided, however, Proviso. Distribution through employment offices, etc. That if the Board shall so request, the Secretary of the Treasury, through the Division of Disbursements of the Treasury Department, shall transmit benefits payments to the Board for distribution by it through employment offices or in such other manner as the Board deems proper. (c) Statement of status and operation in annual report to Congress. The Board shall include in its annual report to Congress a statement with respect to the status and operation of the account. (d) Advances for paying benefits; repayment. The Secretary of the Treasury is hereby directed to advance to the credit of the account such sums, but not more than $25,000,000, as the Board requests for the purpose of paying benefits. Such sums shall be repaid from the account on January 1, 1941, or at such earlier time as the Board may, by agreement with the Secretary of the Treasury, determine. (e) 49 Stat. 640.42 U. S. C., Supp. III. § 1104 (a).Unemployment trust fund; establishment.Receipt of deposited funds. Section 904 (a) of the Social Security Act is hereby amended to read as follows: “There is hereby established in the Treasury of the United States a trust fund to be known as the ‘unemployment trust fund’, hereinafter in this title called the ‘fund’. The Secretary of the Treasury is authorized and directed to receive and hold in the fund all moneys deposited therein by a State agency from a State unemployment fund, or by the Railroad Retirement Board to the credit of the railroad unemployment Depositories. insurance account. Such deposit may be made directly with the Secretary of the Treasury or with any Federal Reserve bank or member bank of the Federal Reserve System designated by him for such purpose.” (f) Section 904 (e) of the Social Security Act is hereby amended to 49 Stat. 641. 42 U. S. C., Supp, III, § 1104 (e). Investment as a single fund; accounting. read as follows: “The fund shall be invested as a single fund, but the Secretary of the Treasury shall maintain a separate book account for each State agency and the railroad unemployment insurance account and shall credit quarterly on March 81, June 30, September 30, and December 31, of each year, to each account, on the basis of the average daily balance of such account, a proportionate part of the earnings of the fund for the quarter ending on such date.” (g) Section 904 (f) of the Social Security Act is hereby amended by Payments. adding thereto the following sentence: “The Secretary of the Treasury is authorized and directed to make such payments out of the fund as the Railroad Retirement Board may duly certify, not exceeding the amount standing to the railroad unemployment insurance account at the time of such payment.”

2. 1939

   Public Law not identified

   Substituted · 45 U.S.C. § 360(a)

   Subsec. (a). Act June 20, 1939, substituted “(f)” for “(g)”

   Unresolved: No Public Law or Statutes at Large citation in the Code source.

   Source evidence

   Code amendment note
   Subsec. (a). Act June 20, 1939, substituted “(f)” for “(g)”.

3. 1948

   Public Law not identified

   Changed · 45 U.S.C. § 360(a)(i)

   Subsec. (a)(i). Act June 23, 1948, changed computation of insurance account

   Unresolved: No Public Law or Statutes at Large citation in the Code source.

   Source evidence

   Code amendment note
   Subsec. (a)(i). Act June 23, 1948, changed computation of insurance account.

4. 1959

   Pub. L. 86–28 · 73 Stat. 25

   Substituted · 45 U.S.C. § 360(d)

   Pub. L. 86–28 substituted provisions authorizing Board to request transfer and retransfer of funds for provisions which directed Secretary of the Treasury to advance not more than $25,000,000 for purpose of paying benefits

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 86–28 substituted provisions authorizing Board to request transfer and retransfer of funds for provisions which directed Secretary of the Treasury to advance not more than $25,000,000 for purpose of paying benefits.

5. 1963

   Pub. L. 88–133 title III § 305 · 77 Stat. 219

   Substituted · 45 U.S.C. § 360(d)

   Pub. L. 88–133 substituted “a rate for each fiscal year equal to the average rate of interest borne by all special obligations held by the Railroad Retirement Account on the last day of the preceding fiscal year, rounded to the nearest multiple of one-eighth of 1 per centum” for “the rate of 3 per centum per annum.”

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 88–133 substituted “a rate for each fiscal year equal to the average rate of interest borne by all special obligations held by the Railroad Retirement Account on the last day of the preceding fiscal year, rounded to the nearest multiple of one-eighth of 1 per centum” for “the rate of 3 per centum per annum.”

   Enacted provision · exact public law section
   Sec. 305. Effective after June 30, 1964, section 10(d) of the Railroad Unemployment Insurance Act is amended by striking out “the 73 Stat. 32. 45 USC 360. rate of 3 per centum per annum” and inserting in lieu thereof “a rate for each fiscal year equal to the average rate of interest borne by all special obligations held by the Railroad Retirement Account on the last day of the preceding fiscal year, rounded to the nearest multiple of one-eighth of I per centum”.

6. 1966

   Pub. L. 89–700 title II § 205 · 80 Stat. 1073

   Substituted · 45 U.S.C. § 360(a)

   Pub. L. 89–700 substituted “0.25 per centum” for “0.2 per centum”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 89–700 substituted “0.25 per centum” for “0.2 per centum”.

   Enacted provision · exact public law section
   Sec. 205. Sections 10(a) and 11(a) of the Railroad Unemployment Insurance Act are each amended by striking out “0.2 per centum” 62 Stat. 578. 45 USC 360, 361. and inserting in lieu thereof “0.25 per centum”.

7. 1968

   Pub. L. 90–257 title II § 205 · 82 Stat. 16

   Inserted · 45 U.S.C. § 360(a)(ii)

   Pub. L. 90–257 inserted reference to amounts transferred or paid into account pursuant to subsec. (e) of this section

   Source evidence

   Code amendment note
   Subsec. (a)(ii). Pub. L. 90–257 inserted reference to amounts transferred or paid into account pursuant to subsec. (e) of this section.

   Enacted provision · exact public law section
   Sec. 205. Section 10 of the Railroad Unemployment Insurance Act is amended by inserting in subsection (a) thereof before “; (iii)” the following: “and pursuant to subsection (h) of this section”, and by inserting at the end thereof the following new subsection: “(h) At the close of the fiscal year ending June 30, 1968, and each fiscal year thereafter, the Board shall determine the amount, if any, which, if added to the railroad unemployment insurance account, would place such account in the same position it would have been in at the close of such fiscal year if every employee who had been paid benefits in the fiscal year for days of sickness in an extended benefit period under the first sentence of section 2(c), or in a ‘succeeding benefit year’ begun in accordance with the second sentence of section 2(c), and who upon application therefor would have been entitled to a disability annuity under section 2(a) of the Railroad Retire-ment Act of 1937 with respect to some or all of the days for which 45 USC 228b. such benefits were paid, had been paid such annuity with respect to all days of sickness for which he was paid benefits which were also days with respect to which such annuity could have accrued. In determining such amount, the Board shall presume that every such employee was, in respect to his permanent physical or mental condition, qualified for such an annuity from the date of onset of the last spell of illness for which he was paid such benefits, if (a) he died without applying for such an annuity and before fully exhausting all rights to such benefits; or (b) he died without, applying for such an annuity but within a year after the last day of sickness for which he had been paid such benefits, and had not meanwhile engaged in substantial gainful employment; or (c) he applied for such an annuity within one year after the last day of sickness for which he was paid such benefits and had not engaged in substantial gainful employment after that day and before the day on which he filed an application for such an annuity. The Board shall also have authority to make reasonable approximations deemed necessary in computing annuities for this purpose. The Board shall determine such amount no later than June 15 following the close of the fiscal year, and within ten days after such determination shall certify such amount to the Secretary of the Treasury for transfer from the Railroad Retirement Account to the railroad unemployment insurance account, and the Secretary of the Treasury shall make such transfer. The amount so certified shall include interest, (at a rate determined, as of the close of the fiscal year, in accordance with subsection (d) of this section) payable from the close of such fiscal year to the date of certification.”

8. 1968

   Pub. L. 90–257 title II § 205 · 82 Stat. 16

   Redesignated · 45 U.S.C. § 360(e)

   Pub. L. 90–257 added subsec. (e) which was subsec. (h) in original and was redesignated (e) for purposes of codification

   Source evidence

   Code amendment note
   Subsec. (e). Pub. L. 90–257 added subsec. (e) which was subsec. (h) in original and was redesignated (e) for purposes of codification.

   Enacted provision · exact public law section
   Sec. 205. Section 10 of the Railroad Unemployment Insurance Act is amended by inserting in subsection (a) thereof before “; (iii)” the following: “and pursuant to subsection (h) of this section”, and by inserting at the end thereof the following new subsection: “(h) At the close of the fiscal year ending June 30, 1968, and each fiscal year thereafter, the Board shall determine the amount, if any, which, if added to the railroad unemployment insurance account, would place such account in the same position it would have been in at the close of such fiscal year if every employee who had been paid benefits in the fiscal year for days of sickness in an extended benefit period under the first sentence of section 2(c), or in a ‘succeeding benefit year’ begun in accordance with the second sentence of section 2(c), and who upon application therefor would have been entitled to a disability annuity under section 2(a) of the Railroad Retire-ment Act of 1937 with respect to some or all of the days for which 45 USC 228b. such benefits were paid, had been paid such annuity with respect to all days of sickness for which he was paid benefits which were also days with respect to which such annuity could have accrued. In determining such amount, the Board shall presume that every such employee was, in respect to his permanent physical or mental condition, qualified for such an annuity from the date of onset of the last spell of illness for which he was paid such benefits, if (a) he died without applying for such an annuity and before fully exhausting all rights to such benefits; or (b) he died without, applying for such an annuity but within a year after the last day of sickness for which he had been paid such benefits, and had not meanwhile engaged in substantial gainful employment; or (c) he applied for such an annuity within one year after the last day of sickness for which he was paid such benefits and had not engaged in substantial gainful employment after that day and before the day on which he filed an application for such an annuity. The Board shall also have authority to make reasonable approximations deemed necessary in computing annuities for this purpose. The Board shall determine such amount no later than June 15 following the close of the fiscal year, and within ten days after such determination shall certify such amount to the Secretary of the Treasury for transfer from the Railroad Retirement Account to the railroad unemployment insurance account, and the Secretary of the Treasury shall make such transfer. The amount so certified shall include interest, (at a rate determined, as of the close of the fiscal year, in accordance with subsection (d) of this section) payable from the close of such fiscal year to the date of certification.”

9. 1974

   Pub. L. 93–445 title IV § 403 · 88 Stat. 1305

   1. Repealed · 45 U.S.C. § 360(e)

      Pub. L. 93–445 repealed subsec. (e) which was added by Pub. L. 90–257 as subsec. (h)

   2. Redesignated · 45 U.S.C. § 360(e)

      Pub. L. 93–445 redesignated (e) for purposes of codification, and which provided for annual adjustment of account and transfer of funds from Railroad Retirement Account

   Source evidence

   Code amendment note
   Subsec. (e). Pub. L. 93–445 repealed subsec. (e) which was added by Pub. L. 90–257 as subsec. (h) and redesignated (e) for purposes of codification, and which provided for annual adjustment of account and transfer of funds from Railroad Retirement Account.

   Enacted provision · exact public law section
   Sec. 403. Section 10 of the Railroad Unemployment Insurance Act 45 USC 360. is amended by striking out subsection (h) and all that appears therein.

10. 1975

    Pub. L. 94–92 § 1(i)(1) · 89 Stat. 461

    Substituted · 45 U.S.C. § 360(a)(i)

    Pub. L. 94–92, § 1(i)(1), substituted “0.5” for “0.25”

    Source evidence

    Code amendment note
    Subsec. (a)(i). Pub. L. 94–92, § 1(i)(1), substituted “0.5” for “0.25”.

    Enacted provision · exact public law section
    (1) by striking out “0.25” from clause (i) and inserting in lieu thereof “0.5”; and

11. 1975

    Pub. L. 94–92 § 1(i)(2) · 89 Stat. 461

    Repealed · 45 U.S.C. § 360(a)(ii)

    Pub. L. 94–92, § 1(i)(2), struck out “and pursuant to subsection (h)[e] of this section”. Congress probably intended to strike out internal reference to subsec. (e) of this section in view of repeal of subsection by section 403 of Pub. L. 93–445 and it being last subsection of section

    Source evidence

    Code amendment note
    Subsec. (a)(ii). Pub. L. 94–92, § 1(i)(2), struck out “and pursuant to subsection (h)[e] of this section”. Congress probably intended to strike out internal reference to subsec. (e) of this section in view of repeal of subsection by section 403 of Pub. L. 93–445 and it being last subsection of section.

    Enacted provision · exact public law section
    (2) by striking out “and pursuant to subsection (h) of this section” from clause (ii).

12. 1983

    Railroad Retirement Solvency Act of 1983

    Pub. L. 98–76 title III § 302 · 97 Stat. 411

    Inserted · 45 U.S.C. § 360(d)

    Pub. L. 98–76 inserted provisions that no transfer shall be made under this subsection from Railroad Retirement Account after September 30, 1985, and no such transfer shall be made on or before September 30, 1985, for purposes of paying benefits and refunds due after such date

    Source evidence

    Code amendment note
    Subsec. (d). Pub. L. 98–76 inserted provisions that no transfer shall be made under this subsection from Railroad Retirement Account after September 30, 1985, and no such transfer shall be made on or before September 30, 1985, for purposes of paying benefits and refunds due after such date.

    Enacted provision · exact public law section
    Sec. 302. Subsection (d) of section 10 of the Railroad Unemployment 45 USC 360. Insurance Act is amended by adding at the end thereof the following new sentence: “No transfer shall be made under this subsection from the Railroad Retirement Account after September 30, 1985, and no such transfer shall be made on or before September 30, 1985, for purposes of paying benefits and refunds due after such date.”.

13. 1985

    Emergency Extension Act of 1985

    Pub. L. 99–107 § 4 · 99 Stat. 479

    Substituted · 45 U.S.C. § 360(d)

    Pub. L. 99–107 substituted “November 14, 1985” for “September 30, 1985” wherever appearing

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 99–107 substituted “November 14, 1985” for “September 30, 1985” wherever appearing.

    Enacted provision · exact public law section
    SEC. 4. 45-DAY EXTENSION OF BORROWING AUTHORITY UNDER THE RAILROAD UNEMPLOYMENT INSURANCE ACT. Section 10(d) of the Railroad Unemployment Insurance Act is 45 USC 360. amended by striking out “September 30, 1985” each place it appears and inserting in lieu thereof “November 14, 1985”.

14. 1985

    Pub. L. 99–155 § 2(c) · 99 Stat. 814

    Substituted · 45 U.S.C. § 360(d)

    Pub. L. 99–155 substituted “December 14, 1985” for “November 14, 1985” wherever appearing

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 99–155 substituted “December 14, 1985” for “November 14, 1985” wherever appearing.

    Enacted provision · exact public law section
    (c) Section 10(d) of the Railroad Unemployment Insurance Act is amended by striking out “November 14, 1985” each place it appears and inserting in lieu thereof “December 14, 1985”.

15. 1985

    Pub. L. 99–181 § 3 · 99 Stat. 1172

    Substituted · 45 U.S.C. § 360(d)

    Pub. L. 99–181 substituted “December 18, 1985” for “December 14, 1985” wherever appearing

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 99–181 substituted “December 18, 1985” for “December 14, 1985” wherever appearing.

    Enacted provision · exact public law section
    SEC. 3. EXTENSION OF BORROWING AUTHORITY UNDER THE RAILROAD UNEMPLOYMENT INSURANCE ACT. 45 USC 360. Section 10(d) of the Railroad Unemployment Insurance Act is amended by striking out “December 14, 1985” each place it appears and inserting in lieu thereof “December 18, 1985”.

16. 1985

    Pub. L. 99–189 § 3 · 99 Stat. 1184

    Substituted · 45 U.S.C. § 360(d)

    Pub. L. 99–189 substituted “December 19, 1985” for “December 18, 1985” wherever appearing

    Source evidence

    Code amendment note
    Subsec. (d). Pub. L. 99–189 substituted “December 19, 1985” for “December 18, 1985” wherever appearing.

    Enacted provision · exact public law section
    SEC. 3. EXTENSION OF BORROWING AUTHORITY UNDER THE RAILROAD UNEMPLOYMENT INSURANCE ACT. Ante, p. 1172. 45 USC 360. Section 10(d) of the Railroad Unemployment Insurance Act is amended by striking out “December 18, 1985” each place it appears and inserting in lieu thereof “December 19, 1985”.

17. 1986

    Consolidated Omnibus Budget Reconciliation Act of 1985

    Pub. L. 99–272 title XIII § 13302 · 100 Stat. 82

    Struck · 45 U.S.C. § 360(d)

    Pub. L. 99–272 struck out at end “No transfer shall be made under this subsection from Railroad Retirement Account after December 19, 1985, and no such transfer shall be made on or before December 19, 1985, for purposes of paying benefits and refunds due after such date.”

    Source evidence

    Code amendment note
    Subsec. (d). Pub. L. 99–272 struck out at end “No transfer shall be made under this subsection from Railroad Retirement Account after December 19, 1985, and no such transfer shall be made on or before December 19, 1985, for purposes of paying benefits and refunds due after such date.”

    Enacted provision · exact public law section
    SEC. 13302. EXTENSION OF BORROWING AUTHORITY UNDER THE RAILROAD UNEMPLOYMENT INSURANCE ACT. Section 10(d) of the Railroad Unemployment Insurance Act is 45 USC 360. amended by striking out the last sentence thereof.

18. 1988

    Railroad Unemployment Insurance and Retirement Improvement Act of 1988

    Pub. L. 100–647 title VII § 7103(b)(1) · 102 Stat. 3342

    Substituted · 45 U.S.C. § 360(a)

    Pub. L. 100–647 substituted “0.65” for “0.5”

    Source evidence

    Code amendment note
    Subsec. (a). Pub. L. 100–647 substituted “0.65” for “0.5”.

    Enacted provision · exact public law section
    (1) Section 10(a) is amended by striking out “0.5” and inserting in lieu thereof “0.65”.

    Effective date note
    Amendment by Pub. L. 100–647 applicable with respect to compensation paid in months beginning after Sept. 30, 1988, see section 7103(c) of Pub. L. 100–647, set out as a note under section 358 of this title.

19. 2004

    GAO Human Capital Reform Act of 2004

    Pub. L. 108–271 § 8(b) · 118 Stat. 811

    Substituted · 45 U.S.C. § 360(b)

    Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”

    Source evidence

    Code amendment note
    Subsec. (b). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

    Enacted provision · exact public law section
    (b) References.— Any reference to the General Accounting Office in any law, rule, regulation, certificate, directive, instruction, or other official paper in force on the date of enactment of this Act shall be considered to refer and apply to the Government Accountability Office.

17 of 20 references resolved to an enrolled provision · 1 partial · 2 unresolved