For payment to the Secretary of the Treasury of the United States to the credit of the federal unemployment trust fund established by the Social Security Act, to be held for the state upon the terms and conditions provided in the said Social Security Act, there is hereby appropriated the amount remaining in the clearing account of the Unemployment Compensation Fund created by § 60.1-301, Code of Virginia, after deducting the refunds payable therefrom pursuant to § 60.1-301, Code of Virginia, a sum sufficient.