Theodore R. McKeldin, Governor                    505

(C) limits the amount which may be used during a twelve-month
period beginning on July 1 and ending on the next June 30 to an
amount which does not exceed the amount by which

(i)  the aggregate of the amounts credited to the account of this
State pursuant to Section 90S of the Social Security Act, as amended,
during the same twelve-month period and the four preceding twelve-
month periods, exceeds

(ii) the aggregate of the amounts used pursuant to this sub-section
and charged against the amounts credited to the account of this State
during any of such five twelve-month periods. For the purpose of
this sub-section, amounts used during any such twelve-month period
shall be charged against equivalent amounts which were first credited
and which are not already so charged; except that no amount used
during any such twelve-month period for administration may be
charged against any amount credited during such a twelve-month
period earlier than the fourth preceding such period.

(2)  Money credited to the account of this State pursuant to Sec-
tion 903 of the Social Security Act, as amended, may not be with-
drawn or used except for the payment of benefits and for the pay-
ment of expenses for the administration of this Act and of public
employment offices pursuant to this sub-section.

(3)  Money requisitioned for the payment of expenses of adminis-
tration pursuant to this sub-section shall be deposited in the unem~
ployment insurance administration fund, but until expended, shall
remain a part of the Unemployment Insurance Fund. The Board
shall maintain a separate record of the deposit, obligation, expendi-
ture, and return of funds so deposited. If any money so deposited is,
for any reason, not to be expended for the purpose for which it was
appropriated, or, if it remains unexpended at the end of the period
specified by the law appropriating such money, it shall be withdrawn
and returned to the Secretary of the Treasury of the United States
for credit to this State's account in the Unemployment Trust Fund.

9[d](e) Management of Funds Upon Discontinuance of Unem-
ployment Trust Fund.

The provisions of sub-sections (a), (b) and (c) (A), (B), (C)
AND (D) to the extent that they relate to the Unemployment Trust
Fund, shall be operative only so long as such Unemployment Trust
Fund continues to exist and so long as the Secretary of the Treasury
of the United States of America continues to maintain for this State
a separate book account of all funds deposited therein by this State
for benefit purposes, together with this State's proportionate share of
the earnings of such Unemployment Trust Fund, from which no other
State is permitted to make withdrawals. If and When such Unemploy-
ment Trust Fund ceases to exist, or such separate book account is no
longer maintained, all moneys, properties, or securities therein, be-
longing to the unemployment [compensation] insurance fund of this
State shall be transferred to the State Treasury and deposited in the
unemployment compensation fund. The Treasurer shall hold, invest,
transfer, sell, deposit, and release such moneys, properties, or securi-
ties in a manner approved by the Board, in accordance with the provi-
sions of this Act; provided, that such moneys shall be invested in the
following readily marketable classes of securities; bonds or other
interest bearing obligations of the United States of America, the