Emergency Unemployment Compensation Act of 1974

(LATEST SUMMARY)

Emergency Unemployment Compensation Act - Provides that any State may enter into an agreement with the Secretary of Labor under this Act if such State's law contains a requirement that extended compensation be payable thereunder as provided by the Federal-State Extended Unemployment Compensation Act of 1970.

States that any such agreement shall provide that the State agency of the State will make payments of emergency compensation to individuals who: (1) have exhausted all rights to regular compensation under the State law; (2) have exhausted all rights to or eligibility for extended compensation in such State; (3) have no rights to regular or extended compensation with respect to a week under State or Federal law; and (4) are not receiving unemployment compensation from Canada or the Virgin Islands, for any week of unemployment which begins in an emergency benefit period and the individual's period of eligibility.

States the circumstances under which an individual shall be deemed to have exhausted his rights to regular or extended compensation, and specifies the period of time which shall constitute an emergency benefit period. Provides that, in the case of any State, no emergency benefit period shall last for a period of less than 26 consecutive weeks.

States that any agreement under this Act with a State shall provide that the State will establish, for each eligible individual who files an application for emergency compensation, an emergency compensation account, and specifies the range of the amount to be placed in such account.

Provides that there shall be paid to each State which has entered into an agreement under this Act an amount equal to 100 percent of the emergency compensation paid to individuals by the State pursuant to such agreement, but only where the State has waived the 120 percent requirement as provided by Public Law 93-368.

Authorizes to be appropriated, without fiscal year limitation, to the extended unemployment compensation account, as repayable advances (without interest), such sums as may be necessary to carry out the purposes of this Act.