On page 11, after line 12, insert the following:

"NEW SECTION.  Sec. 4. A new section is added to chapter 50.16 RCW to read as follows:

The unemployment insurance socialized benefits account is created in the custody of the state treasurer. Revenues to the account consist of appropriations and transfers by the legislature and all other funding directed for deposit into the account. Only the commissioner of the employment security department or the commissioner's designee may authorize expenditures from the account. Expenditures from the account may be used only for reimbursing the unemployment compensation fund created in RCW 50.16.010 for socialized benefits and relief of benefits paid to individuals who qualify for benefits under RCW 50.20.050(2)(b) (ii) and (xiii). The account is subject to the allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.

Renumber the remaining section consecutively and correct any internal references accordingly.

On page 1, line 3 of the title, after " 50.04 RCW;" strike the remainder of the title and insert "adding a new section to chapter 50.16 RCW; creating a new section; and making an appropriation."