,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #fhej  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #ac1 #bjbj,mr4   
,meeks 7= himself1 ,ms4 ,pressley1 &    
,ms4 ,wat]s7 introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means1 & 9 addition to ! ,committee on 
,f9ancial ,s]vices1 = a p]iod to be     
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to protect /imulus 
*ecks f g>ni%m5t & fees & f be+ us$ z an
 (fset by a cr$it union or depository   
in/itution1 & = o!r purposes4  #a4 ,%ort
 title ,?is ,act h be5 cit$ z ! ,protect
 our ,*ecks ,act ( #bjbj4  #b4 ,protect+
 /imulus *ecks f g>ni%m5t & fees  7a7   
,protection ( #bjbj recov]y rebates     
7#a7 ,9 g5]al ,section #bbja7;d7 ( !    
,,c>es ,act 7,public ,law #aaf-acf7 is  
am5d$-- 7,a7 by r$esignat+ p>agraphs    
7#a71 7#b71 & 7#c7 z subp>agraphs 7,a71 
7,b71 & 7,c71 & by mov+ su* subp>agraphs
 #b ems to ! "r2  7,b7 9 ! head+1 by    

/rik+ r$uction or (fset & ins]t+        
r$uction1 (fset1 g>ni%m5t1 etc42  7,c7  
by /rik+ ,any cr$it & ins]t+ ! foll[+3  
7#a7 ,9 g5]al ,any cr$it  2 &  7,d7 by  
add+ at ! end ! foll[+ new p>agraphs3   
7#b7 ,assignm5t ( b5efits  7,a7 ,9 g5]al
 ,! "r ( any p]son to any applicable    
paym5t %all n be transf]able or         
assignable1 at law or 9 equity1 & no    
applicable paym5t %all be subject to    
execution1 levy1 atta*m5t1 g>ni%m5t1 or 
o!r legal process or ! op]ation ( any   
bankruptcy or insolv5cy law4  7,b7      
,encod+ ( paym5ts ,z soon z practicable1
 9 ! case ( an applicable paym5t t is   
paid electronically by direct deposit   
?r\gh ! ,automat$ ,cle>+ ,h\se 7,,a*7   
network1 ! ,secret>y ( ! ,treasury %all 
issue ! paym5t us+ a unique id5tifi] t  
is reasonably suffici5t to all[ a       
f9ancial in/itution to id5tify ! paym5t 
z a paym5t protect$ "u subp>agraph 7,a74
 ,! ,secret>y %all fur!r encode ! paym5t
 pursuant to ! same specifications z    
requir$ = a b5efit paym5t 7z def9$ 9    

section #bab4c ( section #ca1 ,code (   
,f$]al ,regulations74  7,c7 ,g>ni%m5t   
7i7 ,encod$ paym5ts ,^u receipt ( a     
g>ni%m5t ord] t applies to an acc\nt t  
has receiv$ an applicable paym5t t is   
encod$ z provid$ 9 subp>agraph 7,b71 a  
f9ancial in/itution %all foll[ !        
requirem5ts & proc$ures set =? 9 "p #bab
 ( title #ca1 ,code ( ,f$]al            
,regulations1 except a f9ancial         
in/itution %all n1 ) reg>d to any       
applicable paym5t1 be requir$ to provide
 ! notice ref]5c$ 9 section #bab4f or   
#bab4g ( su* title #ca4 ,?is p>agraph   
%all n alt] ! /atus ( paym5ts z tax     
refunds or o!r nonb5efit paym5ts =      
purpose ( any reclamation rights ( !    
,dep>tm5t ( ,treasury or ! ,int]nal     
,rev5ue ,s]vice z p] "p #baj ( su* title
 #ca4  7ii7 ,o!r paym5ts ,if a f9ancial 
in/itution receives a g>ni%m5t ord]1 o!r
 ?an an ord] t has be5 s]v$ by ! ,unit$ 
,/ates1 t applies to an acc\nt into :i* 
an applicable paym5t t has n be5 encod$ 
z provid$ 9 subp>agraph 7,b7 has be5    

deposit$ electronically or by *eck on   
any date 9 ! lookback p]iod1 ! f9ancial 
in/itution1 ^u ! reque/ ( ! acc\nt      
hold]1 %all treat ! am\nt ( ! funds 9 ! 
acc\nt at ! "t ( ! reque/1 up to ! am\nt
 ( ! applicable paym5t1 z exempt "u law 
f a g>ni%m5t ord] )\t requir+ ! cons5t (
 ! p>ty s]v+ ! g>ni%m5t ord] or !       
judgm5t cr$itor4  7iii7 ,liability ,a   
f9ancial in/itution t acts 9 good fai? 9
 reliance on clause 7i7 or 7ii7 %all n  
be subject to liability or regulatory   
action "u any ,f$]al or ,/ate law1      
regulation1 c\rt or o!r ord]1 or        
regulatory int]pretation = actions      
conc]n+ any applicable paym5ts4  7,d7   
,def9itions ,= purposes ( ?is p>agraph3 
7i7 ,acc\nt hold] ,! t]m acc\nt hold]   
means a natural p]son ^: "n appe>s 9 a  
f9ancial in/itution's records z ! direct
 or b5eficial own] ( an acc\nt4  7ii7   
,acc\nt review ,! t]m acc\nt review     
means ! process ( exam9+ deposits 9 an  
acc\nt to det]m9e if an applicable      
paym5t has be5 deposit$ into ! acc\nt   

dur+ ! lookback p]iod4 ,a f9ancial      
in/itution %all p]=m an acc\nt review   
foll[+ ! proc$ures outl9$ 9 section     
#bab4e ( title #ca1 ,code ( ,f$]al      
,regulations1 & 9 accordance ) !        
requirem5ts ( section #bab4f ( su* title
 #ca4  7iii7 ,applicable paym5t ,! t]m  
applicable paym5t means any paym5t (    
cr$it or refund by reason ( section     
#fdbh ( ! ,int]nal ,rev5ue ,code ( #aihf
 or subsection 7c74  7iv7 ,g>ni%m5t ,!  
t]m g>ni%m5t means execution1 levy1     
atta*m5t1 g>ni%m5t1 or o!r legal        
process4  7v7 ,g>ni%m5t ord] ,! t]m     
g>ni%m5t ord] means a writ1 ord]1       
notice1 summons1 judgm5t1 levy1 or      
simil> writt5 in/ruction issu$ by a     
c\rt1 a ,/ate or ,/ate ag5cy1 or a      
municipality or municipal corporation to
 effect a g>ni%m5t aga9/ a debtor4  7vi7
 ,lookback p]iod ,! t]m lookback p]iod  
means ! two mon? p]iod t beg9s on ! date
 prec$+ ! date ( an acc\nt review & ends
 on ! correspond+ date ( ! mon? two     
mon?s e>li]1 or on ! la/ date ( ! mon?  

two mon?s e>li] if ! correspond+ date   
does n exi/4  4  7#b7 ,effective date   
7,a7 ,9 g5]al ,section #bbja7;d77#b7 ( !
 ,,c>es ,act1 z add$ by subsection 7a71 
%all take effect ^u enactm5t4  7,b7     
,exception ,not)/&+ p>agraph 7#a71      
clauses 7i7 & 7ii7 ( section            
#bbja7;d77#b77;,c7 ( ! ,,c>es ,act1 z   
add$ by subsection 7a71 %all take effect
 aft] ! end ( ! #aj-;day p]iod beg9n+ on
 ! date ( enactm5t ( ?is ,act4  7b7     
,prohibition on use ( ,,covid-#ai       
/imulus paym5ts z (fset by cr$it unions 
& depository in/itutions  7#a7 ,9 g5]al 
,a cr$it union or depository in/itution 
may n (fset or seize a ,,covid-#ai      
/imulus paym5t to pay any am\nt due1 or 
alleg$ly due1 to ! cr$it union or       
depository in/itution4  7#b7 ,encod+ (  
paym5ts ,z soon z practicable1 9 ! case 
( a ,,covid-#ai /imulus paym5t t is paid
 electronically by direct deposit ?r\gh 
! ,automat$ ,cle>+ ,h\se 7,,a*7 network1
 ! ,secret>y ( ! ,treasury %all issue a 
,,covid-#ai /imulus paym5t us+ a unique 

id5tifi] t is reasonably suffici5t to   
all[ a cr$it union or depository        
in/itution to id5tify ! paym5t z a      
paym5t protect$ "u p>agraph 7#a74  7#c7 
,def9itions ,9 ?is subsection3 7,a7     
,,covid-#ai /imulus paym5t ,! t]m       
,,covid-#ai /imulus paym5t means any    
paym5t made pursuant to section #fdbh ( 
! ,int]nal ,rev5ue ,code ( #aihf or     
section #bbja7;c7 ( ! ,,c>es ,act4  7,b7
 ,cr$it union ,! t]m cr$it union means a
 ,f$]al cr$it union & a ,/ate cr$it     
union1 z su* t]ms are def9$1            
respectively1 "u section #aja ( ! ,f$]al
 ,cr$it ,union ,act4  7,c7 ,depository  
in/itution ,! t]m depository in/itution 
has ! mean+ giv5 t t]m "u section #c ( !
 ,f$]al ,deposit ,insurance ,act4