Code of Federal Regulations Title 20. Employees' Benefits § 20.606.42 High unemployment delay

(a) Applicability. Paragraph (9) of section 1202 (b) of the Social Security Act permits a State to delay for a period not exceeding nine months the interest payment due prior to October 1 if, for the most recent 12–month period prior to such October 1 for which data are available, the State had an average total unemployment rate of 13.5 percent or greater.

(b) Delayed due date. An interest payment delayed under paragraph (9) must be paid in full not later than the last official Federal business day prior to the following July 1;  at the State's option payment of delayed interest may be accelerated. No interest shall accrue on such delayed payment.

(c) Application for delay in payment and determination.