ATLANTA - Georgia's unemployment trust fund has less than one month of payouts left, forcing the state to seek a loan from the federal government, Georgia Labor Commissioner Michael Thurmond said Friday.

"I'm down to my last $130 million," he said.

The fund is paying out $140 million in monthly benefits.

Thurmond has briefed Gov. Sonny Perdue and begun discussions with the federal government about taking advantage of a 12-month, interest-free loan, though repayment could take many years after interest begins to accrue, he said. Already, 24 states have taken similar loans, which were provided as part of the federal stimulus legislation.

He will decide about requesting the funds in the second week of December.

Despite the funding shortage, Thurmond promised that everyone due benefits would receive them.

In 1998, the trust fund was so flush with cash that Thurmond supported giving employers a holiday on paying premiums into the trust fund. Projections at the time calculated the premiums foregone at $1 billion.

Friday, Thurmond said he doesn't regret the action.

"I think lower taxes helped spur economic growth," he said.