AN ACT TO AMEND TITLE 19, DELAWARE CODE, RELATING TO UNEMPLOYMENT COMPENSATION, BY AUTHORIZING THE BORROWING OF FEDERAL FUNDS UNDER CERTAIN CONDITIONS, BY CHANGING CERTAIN OF THE PROVISIONS RELATING TO PAYMENT OF BENEFITS, AND BY CHANGING CERTAIN OF THE PROVISIONS RELATING TO VARIABLE CONTRIBUTION RATES.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Title 19, Delaware Code, is amended by adding therein a new § 3134, as follows:
§ 3134. Authority to borrow Federal funds
The Commission is hereby authorized to enter into such agreement as may be necessary to secure any advance or grant of funds by the Secretary of the Treasury of the United States in accordance with the authority extended under section 1201 of the Federal Social Security Act as amended, or under any other act of Congress extending such authority.
Any amount transferred to the unemployment trust fund by the Secretary of the Treasury of the United States under the terms of any agreement entered into in accordance with the authority extended in this subsection, shall be repaid to the Secretary of the Treasury of the United States from the unemployment trust fund.
Section 2. § 3349 (a), Title 19, Delaware Code, is amended by adding at the end thereof a new sentence, designated (3), as follows:
(3) "Rated Employer" means an employer who has met the requirements of § 3349 (b) of this chapter.
Provided, however, that the provisions of this section shall not be applicable in connection with the determination of employer contribution rates applicable to the calendar years 1960 and 1961.
Section 4. § 3350, Title 19, Delaware Code, is amended by adding at the end thereof a new paragraph, designated (8) as follows:
(8) For the last three calendar quarters of 1959, the four calendar quarters of 1960, and the first calendar quarter of 1961, every rated employer shall pay, in addition to the contribution set for such employer under § 3350 (5) of this subchapter, an additional contribution of one and one-half percent (11/2%) of wages paid by him in each of the aforesaid calendar quarters.
Approved April 17, 1959.