CHAPTER 164

H.P. 1081 - L.D. 1476

An Act To Improve Timeliness of Unemployment Trust Fund

Deposits

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 26 MRSA §1161, as amended by PL 1977, c. 675, §15, is further amended to read:

§1161. Accounts and deposit

The Treasurer of State shall be is the ex officio treasurer and custodian of the Unemployment Compensation Fund and shall administer such the fund in accordance with the directions of the commissioner. The Treasurer of State shall maintain within the fund 3 4 separate accounts:

1. Clearing account. A clearing account for all money payable to the trust fund account that is not deposited into the combined unemployment insurance contributions and income tax withholding account;

2. Trust fund account. An unemployment trust fund account; and

3. Benefit account. A benefit account.; and

4.__Combined unemployment insurance contributions and income tax withholding account.__A clearing account for that portion of unemployment insurance contributions payable to the trust fund