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NOTES:
Source
(, § 4, Mar. 24, 1961, ; , title III, § 303(c), Oct. 5, 1963, .)
Amendments
1963— repealed provision for repayment of advances by transfers from account to general fund of Treasury when funds of account derived from increase in employers’ contribution rate are adequate for such purpose, which is now covered by section 303(b) of , set out as a note below.
Effective Date of 1963 Amendment
Section 303(c) of provided that the amendment made by such section
303
(c) is effective with respect to contributions collected on compensation paid after Dec. 31, 1963.
Repayment by Account of Advances From General Fund of Treasury From Contributions Collected on Compensation Paid After December 31, 1963
Section 303(b) of provided that: “Effective with respect to contributions collected by the Railroad Retirement Board pursuant to section 8(f) of the Railroad Unemployment Insurance Act [section
of this title] on compensation paid after December 31, 1963, that part of such contributions equal to one-fourth of 1 per centum of the compensation on which such contributions are based shall, notwithstanding the provisions of section 10(b) of such Act [section
of this title], be applied by the Board exclusively for transfers from the railroad unemployment insurance account to the general fund of the Treasury until the full amount advanced from the general fund of the Treasury to the railroad unemployment insurance account pursuant to section 4 of the Temporary Extended Railroad Unemployment Insurance Benefits Act of 1961 [this section] has been repaid.”
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