[Federal Register Volume 86, Number 170 (Tuesday, September 7, 2021)]
[Notices]
[Page 50183]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-19176]


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DEPARTMENT OF LABOR

Employment and Training Administration


Notice of Conditional Approval of New York States' Application 
for the Partial Deferral of Interest Accrued on Outstanding Title XII 
Loans Otherwise Payable on or before September 30, 2021

    Title XII Section 1202(b)(3)(C) of the Social Security Act (SSA) 
provides that a state may defer payment of three-fourths of interest 
due on outstanding advances to state unemployment trust funds under 
Title XII Section 1201 SSA on or before September 30 of a given year if 
the state's rate of insured unemployment (IUR) during the first six 
months of the prior calendar year equaled or exceeded 7.5 percent. 
Title XII Section 1202(b)(3)(C)(i) and 20 CFR 606.41(c) provide that a 
qualifying state must pay at least 25 percent of the amount due on or 
before September 30 of the taxable year, and must pay at least one-
third of the remaining amount on or before September 30 in each of the 
following three years. 20 CFR 606.41(d) further clarifies that the 
timely and full payment of one-fourth of the interest due prior to 
October 1 is a precondition to approval of this deferral.
    The New York State Department of Labor applied for this deferral 
prior to the July 1, 2021 deadline. Pursuant to 20 CFR 606.41(e)(2) the 
Employment and Training Administration has confirmed that the state's 
rate of insured unemployment exceeded the 7.5 percent threshold during 
the first 6 months of calendar year 2020. As such New York's 
application for the high unemployment deferral has been conditionally 
approved contingent on the timely payment of one-fourth of the interest 
due on or before September 30, 2021.

Lenita Jacobs-Simmons,
Acting Assistant Secretary for Employment and Training.
[FR Doc. 2021-19176 Filed 9-3-21; 8:45 am]
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