(a) If not later than three years after the date on which any contributions or interest thereon became due, an employer who has paid the contributions or interest thereon applies for an adjustment of the contributions or interest in connection with subsequent contribution payments, or for a refund of the amounts paid because an adjustment cannot be made, and the Commissioner determines that the payments or any portion of the payments were erroneously collected, the Commissioner shall allow the employer to make an adjustment for the amounts erroneously collected, without interest, in connection with subsequent payments by the employer, or if the adjustment cannot be made, shall refund the amount without interest from the Fund.
(b) The Commissioner may make an adjustment or refund on the Commissioner’s own initiative for the same reasons and within the time period set forth in subsection (a) of this section.