{"data":{"id":"us-ky/krs-341.240","jurisdiction":"us-ky","citation":"KRS 341.240","heading":"Unemployment compensation administration fund.","body":"(1) There is hereby created in the State Treasury a special fund to be known as the\nunemployment compensation administration fund. All money deposited or paid into\nthis fund is hereby appropriated and shall be continuously available to the secretary\nfor expend iture consistent with this chapter, and shall not lapse at any time. A\ngeneral statement that all continuing appropriations are repealed shall not be\nconstrued as repealing this section.\n(2) All money in the unemployment compensation administration fund sh all be\nexpended solely to defray the cost of the administration of this chapter.\n(3) (a) The unemployment compensation administration fund shall consist of all\nmoney appropriated by this state and all money received from the United\nStates, or any agency th ereof or from any other source, for the administration\nof this chapter.\n(b) The secretary is authorized to obtain funding through any commercially\nreasonable means for the benefit of the unemployment compensation\nadministration fund, including reasonable e xpenses, so long as the debt, note,\nsecurity, or obligations are payable solely from the surcharge proceeds,\nrevenues, or funds and accounts specifically authorized for such purpose\nunder this chapter. The State Treasurer shall maintain a separate record o f all\nmoney received for the unemployment compensation administration fund\nunder this paragraph. The secretary is authorized to pledge the surcharge\nproceeds under this chapter as security for financing obtained pursuant to this\nsection.\n(c) Any obligation  incurred under this subsection shall not constitute a debt,\nliability, obligation, or pledge of the credit or taxing power of this\nCommonwealth. Any debt or obligation incurred as a result of this subsection\nshall be payable solely from the surcharge proc eeds, revenues, or funds and\naccounts pledged or available for such purpose under this chapter.\n(d) On or before July 1, 2012, and quarterly thereafter, the secretary shall report to\nthe Legislative Research Commission, for referral to the Appropriations a nd\nRevenue Committee and the Economic Development and Workforce\nInvestment Committee, on the financing authorized in this section for the\npayment of interest on advances under Title XII of the Social Security Act, the\nstatus of the trust fund, and efforts to obtain a cap on the federal\nunemployment tax credit reduction.\n(4) In order to establish and maintain free employment offices, the secretary may enter\ninto agreements with the Railroad Retirement Board or any other agency charged\nwith the administration of an unemployment insurance law, with any cities or other\npolitical subdivisions of this state or with any private nonprofit organization. As a\nparty to any such agreement, the secretary may accept money, service or quarters as\na contribution to the unemployment compensation administration fund.","path":["KRS Chapter 341"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51280","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:28Z","sha256":"9c3021d7b25cba6c93f1ac88cf71ccfe7de2b05a0ab97e70a44532c2f6edffa3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-341.230","next":"us-ky/krs-341.243"},"notice":"GroundRules: Original legal text. Not legal advice."}