53 STAT.] 76rH CONG., 1 ST SESS.-CH. 666-AUG. 10 , 1939 IlJ1 such person (or for one or more of the persons comprising the group), to any such individual whose guaranteed remuneration has not been paid (either pursuant to the guaranty or from the security or assurance provided for the fulfillment of the guaranty), or whose guaranty is not renewed and who is otherwise eligible for compensation under the State law. "(5) YEAR.- T he term 'year' means any twelve consecutive calendar "Year. months. " (6) BALANCE.- The term 'balance', with respect to a reserve account "Balance." or a guaranteed employment account, means the amount standing to the credit of the account as of the computation date; except that, if subsequent to January 1, 1940, any moneys have been paid into or credited to such account other than payments thereto by persons having individuals in their employ, such term shall mean the amount in such account as of the computation date less the total of such other moneys paid into or credited to such account subsequent to January 1, 1940. "(7) COMPUTATION DATE-The term 'computation date' means the a"Comptation date, occurring at least once in each calendar year and within twenty- seven weeks prior to the effective date of new rates of contributions, as of which such rates are computed. "(8) REDUCED RATE. -The term 'reduced rate' means a rate of con- "Rduced rate." tributions lower than the standard rate applicable under the State laws and the term 'standard rate' means the rate on the basis of which variations therefrom are computed." SEC. 611. Paragraphs (1), (3), and (4) of section 1603 (a) of the AnkP, i . (a Internal Revenue Code are amended to read as follows: Approval of State "(1) All compensation is to be paid through public employ- lawsreqirementfor. ment offices or such other agencies as the Board may approve; "(3) All money received in the unemployment fund shall (except for refunds of sums erroneously paid into such fund and except for refunds paid in accordance with the provisions of sec- tion 1606 (b)) immediately upon such receipt be paid over to the Post, P. 1392. Secretary of the Treasury to the credit of the Unemployment Trust Fund established by section 904 of the Social Security Act 49 Stat. 640; U. S . C., 1934 ed., title 42, sec. 1104); 429SUt. 0., pp "(4) All money withdrawn from the unemployment fund of Iv, IMo4. the State shall be used solely in the payment of unemployment compensation, exclusive of expenses of administration, and for refunds of sums erroneously paid into such fund and refunds paid in accordance with the provisions of section 1606 (b);" SEC. 612. Section 1604 (b) of the Internal Revenue Code is amended I. . 1 ie4 (b). to read as follows: Returns. "(b) EXTENION OF TIME FOR FILING. - The Commissioner may Etesion time extend the time for filing the return of the tax imposed by this sub- chapter, under such rules and regulations as he may prescribe with the approval of the Secretary, but no such extension shall be for more than ninety days. , SEC. 613. Section 1606 of the Internal Revenue Code is amended to A Rt, p. 1s7. read as follows: "SEC. 1606 . INTERSTATE COMMERCE AND FEDERAL INSTRUMEN- TALITIES. "(a) No person required under a State law to make payments to an Persons engaed in interstate, etc., eom- unemployment fund shall be relieved from compliance therewith on merc, payments on- der State law to unem- the ground that he is engaged in interstate or foreign commerce, or ploymentfund. that the State law does not distinguish between employees engaged in interstate or foreign commerce and those engaged in intrastate commerce.
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