Nevada lawmakers approve $23 million payment to U.S.

Nevada legislators approved a $23 million interest payment to the federal government on money borrowed to cover unemployment claims in the state with the nation's highest jobless rate.

The Interim Finance Committee allocated the money Wednesday, according to the Nevada Appeal. The payment is due by Sept. 30.

State officials said Nevada must pay the interest to maintain a certified unemployment program. They said a larger interest payment of about $40 million will come due in a few months.

The recession-wracked state has borrowed $773.2 million from the federal treasury to cover unemployment checks.

Borrowing started when an $800 million cushion of reserves dried up in October 2009.