NRS 612.612 - Legislative findings and declarations.

NV Rev Stat § 612.612 (2019) (N/A)

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The Legislature hereby finds and declares that:

1. It is an important public policy of this State to maintain funds in an amount sufficient to pay unemployment benefits when due;

2. Unemployment benefits payments are made from Nevada’s account in the Unemployment Trust Fund of the United States Treasury and are funded by employer contributions;

3. Borrowing from the Federal Government is the only option available to obtain sufficient funds to pay benefits when the balance in Nevada’s account in the Unemployment Trust Fund of the United States Treasury is insufficient to make necessary payments;

4. Alternative methods of replenishing Nevada’s account in the Unemployment Trust Fund of the United States Treasury and establishing adequate balances therein may reduce the costs of providing unemployment benefits and employers’ costs of doing business in this State; and

5. It is in the best interest of this State to authorize the issuance of bonds, when appropriate, for the purpose of continuing the unemployment insurance program at the lowest possible cost to this State and to employers in this State and to avoid reductions in the federal unemployment tax credit.

(Added to NRS by 2013, 2644)

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NRS 612.6118 - “Unemployment Compensation Bond Fund” defined.

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NRS 612.6122 - State Board of Finance authorized to issue bonds to repay loans from Federal Government for payment of unemployment compensation and to establish adequate balances in Unemployment Trust Fund; contents of bond.