CHAPTER 282

(HB 1126)

Unemployment insurance compensation fund for
political subdivisions, restriction modified.

         ENTITLED, An Act to  remove certain restrictions that apply to the unexpended balances of the unemployment insurance compensation fund established by political subdivisions.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:

     Section  1.  That § 61-1-16.1 be amended to read as follows:

     61-1-16.1.   The governing body of any political subdivision may establish an unemployment insurance compensation fund. Expenditures from the fund shall be made only for payment of unemployment insurance claims pursuant to the Federal Unemployment Insurance Act of 1939 as amended on January 1, 2005 , and state law. Notwithstanding the provisions of §§ 7-21-25 and 9- 21-9, expenditures from the fund may be made without specific appropriations authority. The unexpended balance of the fund shall not revert at the end of a fiscal year.

     Signed February 15, 2005

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