Federal law requires that states pay interest on outstanding loan balances under Title XII of the Social Security Act. Payment of interest is a requirement of employers in each state in order to receive full offset credit against the FUTA tax (26 USC 3304(a) (17)) and must be paid from funds other than funds in the state unemployment benefit account.
Interest on outstanding balances for 2014 is applied at the rate of 2.38739930%
As of May 8th, nineteen states had outstanding interest due as reflected below and interest continues to accrue on balances due and unpaid. States with outstanding Title XII loans should be preparing to assure that the interest payments due are paid by September 30th.
| State | Outstanding Advance Balance | Advance Authorization Current Month | Gross Advance Draws Current Month | Interest for FY2014 |
| Alabama | 0.00 | 0.00 | 0.00 | 0.00 |
| Arizona | 0.00 | 40,000,000.00 | 851,100.00 | 28,070.86 |
| Arkansas | 89,765,161.49 | 0.00 | 0.00 | 1,809,791.47 |
| California | 7,412,226,813.55 | 650,000,000.00 | 124,000,000.00 | 144,786,266.14 |
| Colorado | 0.00 | 0.00 | 0.00 | 0.00 |
| Connecticut | 611,288,504.41 | 0.00 | 0.00 | 8,594,252.57 |
| Delaware | 62,492,640.50 | 0.00 | 0.00 | 1,036,429.99 |
| Florida | 0.00 | 0.00 | 0.00 | 0.00 |
| Georgia | 62,490,887.99 | 0.00 | 0.00 | 2,907,930.26 |
| Hawaii | 0.00 | 0.00 | 0.00 | 0.00 |
| Idaho | 0.00 | 0.00 | 0.00 | 0.00 |
| Illinois | 0.00 | 0.00 | 0.00 | 0.00 |
| Indiana | 1,055,853,948.09 | 50,000,000.00 | 8,288,811.97 | 20,421,924.65 |
| Kansas | 0.00 | 0.00 | 0.00 | 0.00 |
| Kentucky | 411,719,619.97 | 40,000,000.00 | 7,853,147.58 | 9,539,008.55 |
| Maryland | 0.00 | 0.00 | 0.00 | 0.00 |
| Massachusetts | 0.00 | 250,000,000.00 | 0.00 | 0.00 |
| Michigan | 0.00 | 0.00 | 0.00 | 0.00 |
| Minnesota | 0.00 | 0.00 | 0.00 | 0.00 |
| Missouri | 256,871,421.52 | 15,000,000.00 | 0.00 | 4,590,285.91 |
| Nevada | 0.00 | 0.00 | 0.00 | 1,424,740.93 |
| New Hampshire | 0.00 | 0.00 | 0.00 | 0.00 |
| New Jersey | 0.00 | 50,000,000.00 | 2,126,000.00 | 2,815,516.43 |
| New York | 1,517,751,144.71 | 300,000,000.00 | 0.00 | 45,498,739.04 |
| North Carolina | 1,101,025,038.72 | 75,000,000.00 | 7,458,043.18 | 27,187,760.36 |
| Ohio | 1,613,152,580.93 | 25,000,000.00 | 0.00 | 23,576,615.39 |
| Pennsylvania | 434,510,981.58 | 100,000,000.00 | 37,674,372.20 | 1,121,837.36 |
| Rhode Island | 40,985,852.41 | 17,000,000.00 | 2,770,793.00 | 1,796,627.72 |
| South Carolina | 396,512,366.54 | 0.00 | 0.00 | 6,779,813.84 |
| South Dakota | 0.00 | 0.00 | 0.00 | 0.00 |
| Tennessee | 0.00 | 0.00 | 0.00 | 0.00 |
| Texas | 0.00 | 0.00 | 0.00 | 0.00 |
| Vermont | 0.00 | 0.00 | 0.00 | 0.00 |
| Virginia | 0.00 | 0.00 | 0.00 | 0.00 |
| Virgin Islands | 84,924,581.44 | 2,000,000.00 | 0.00 | 1,230,416.18 |
| Wisconsin | 1,847,576.07 | 200,000,000.00 | 8,503,236.31 | 5,917,641.95 |
| Totals | 15,153,419,119.92 | 1,814,000,000.00 | 199,525,504.24 | 311,063,669.60 |
Source: US Department of Labor, Employment and Training Administration, Office of Unemployment Insurance.
