Sec. 2. (a) If at any time the governor of Indiana shall find that the tax imposed by 42 U.S.C. § 1101 through 1109, as amended, has been amended or repealed by Congress or has been held unconstitutional by the Supreme Court of the United States with the result that no portion of the contributions required by this article may be credited against such tax, or if this article is declared inoperative by the supreme court of Indiana, the governor of Indiana shall publicly so proclaim, and upon the date of such proclamation the provisions of this article requiring the payment of contributions and benefits shall be suspended for a period ending not later than the last day of the next following regular or special session of the general assembly of the state of Indiana. The department shall thereupon requisition from the unemployment trust fund all money in the unemployment trust fund standing to its credit and shall direct the treasurer of state of Indiana to deposit such moneys, together with any other moneys in the fund, as a special fund in any banks or public depositories in this state in which general funds of the state may be deposited.

     (b) Unless prior to the expiration of such period, the general assembly of the state of Indiana has made provision for an employment security law in this state and has directed that the funds so deposited shall be used for the payment of benefits in this state, the provisions of this article shall cease to be operative, and the department shall, under rules prescribed by the department, refund without interest to each person by whom contributions have been paid the person’s pro rata share of the total contributions paid under this article.

Formerly: Acts 1947, c.208, s.3802. As amended by P.L.144-1986, SEC.152; P.L.171-2016, SEC.49; P.L.136-2018, SEC.121.