Page:United States Statutes at Large Volume 75.djvu/56

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[75 Stat. 16]
[75 Stat. 16]
PUBLIC LAW 87-000—MMMM. DD, 1961

16

PUBLIC LAW 87-7-MAR. 24, 1961 TE3IP0RARY INCREASE I N

[75 S T A T.

RATE OF TAX

Temporary Increase 26 USC 3301.

SEC. 14. (a) Section 3301 of the Internal Revenue Code of 1954 (relating to the rate of the Federal unemployment tax) is amended by adding at the end thereof the following new sentence: " I n the case of wages paid during the calendar years 1962 and 1963, the rate of such tax shall be 3.5 percent in lieu of 3.1 percent." No Change in Credits

26 U&C 3302.

42 USC 1101.

(b) Section 3302(d)(1) of such Code (relating to credits against tax) is amended to read as follows: "(1) KATE OF TAX DEEMED TO BE 3 PERCENT.—In applying subsection (j;^.),! the tax imposed by section 3301 shall be computed at the rate 01 3 percent in lieu of 3.1 percent (or, in the case of the tax imposed with respect to the calendar years 1962 and 1963, in lieu of 3.5 percent)." SEC. 15. Notwithstanding section 901(c)(1)(A) of the Social Security Act, the limitation on the amount authorized to be made available for the fiscal years ending on June 30, 1961, and 1962, for the purposes specified in such section 901(c)(1)(A) is hereby increased to— (1) $385,000,000 for the fiscal year ending June 30, 1961, and (2) $415,000,000 for the fiscal year ending June 30, 1962. Approved March 24, 1961. Public Law 87-7

March 24, 1961 [H. R. 5075]

Temporary Ext e n d e d Railroad Unemployment Insurance Benefits Act of 1961. 53 Stat. 1113. 45 USC 367.

Ante, p. 8.

AN ACT To provide temporary extended railroad unemployment insurance benefits, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of Amev^ca in Congress assembled, That this Act may be cited as the "Temporary Extended Railroad Unemployment Insurance Benefits Act of 1961". SEC. 2. An employee as defined in the Railroad Unemployment Insurance Act who has, after June 30, 1960, and before April 1, 1962, exhausted (within the meaning prescribed by the Railroad Retirement Board by regulation) his right to unemployment benefits under the Railroad Unemployment Insurance Act, shall be paid unemployment benefits in accordance otherwise with the provisions of such Act for days of unemployment, not exceeding sixty-five, and not exceeding in the aggregate, an amount equal to 50 per centum of the total amount of unemployment benefits which were payable to him in the benefit year in which he last exhausted his rights before making his first claim under this Act, which occur in registration periods, as defined in the Railroad Unemployment Insurance Act, beginning on or after the fifteenth day after the date of enactment of the Temporary Extended Unemployment Compensation Act of 1961, and before April 1, 1962, and which would not be days with respect to which he would be held entitled otherwise to receive unemployment benefits under the Railroad Unemployment Insurance Act: Provided, That an employee entitled under this section to benefits for a day before April 1, 1962, may receive such benefits for days in registration periods which begin before July 1, 1962: Provided further, That payment of benefits otherwise provided for in this Act shall