Cal. Unemp. Ins. Code § 1590

Current through the 2023 Legislative Session.
Section 1590 - Transfer of unencumbered balance of fund to Unemployment Fund and Disability Fund

Except as provided by Section 1585.5, the director shall from time to time determine, and the State Controller shall from time to time transfer, the unencumbered balance of the Contingent Fund which at any time during any calendar year exceeds one million dollars ($1,000,000) to the Unemployment Fund and the Disability Fund in the proportion that the year's estimated revenues for penalties and interest relating to employer contributions attributable to the Unemployment Fund bear to the year's estimated revenues for penalties and interest relating to worker contributions attributable to the Disability Fund.

Ca. Unemp. Ins. Code § 1590

Added by Stats. 1974, Ch. 1458.