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Current as of January 01, 2024 | Updated by Findlaw Staff
Revenue collected from the unemployment obligation assessment in any year that exceeds the amount of the bond obligations and bond administrative expenses payable in that year and interest earned on the obligation trust fund may, in the discretion of the commission, be:
(1) used to pay bond obligations payable in the subsequent year, offsetting the amount of the assessment that would otherwise have to be levied for the year under this subchapter;
(2) used to redeem or purchase outstanding bonds;
(3) deposited in the unemployment compensation fund; or
(4) used to pay principal and interest on advances from the federal trust fund.
Cite this article: FindLaw.com - Texas Labor Code - LAB § 203.258. Excess Revenue Collections and Investment Earnings - last updated January 01, 2024 | https://codes.findlaw.com/tx/labor-code/lab-sect-203-258/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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