,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #chda  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #ba1 #bjbj,mr4    
,grassley 7= himself1 ,mr4 ,br[n1 ,mr4  
,wyd51 & ,mr4 ,scott ( ,s\? ,c>ol9a7    
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to protect #bjbj   
recov]y rebates = individuals f         
assignm5t or g>ni%m5t1 & = o!r purposes4
  #a4 ,protection ( #bjbj recov]y       
rebates  7a7 ,9 g5]al ,subsection 7d7 ( 
section #bbja ( ! ,,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 ! "r1   
7#b7 by /rik+ r$uction or (fset4--,any  
cr$it & ins]t+ 8r$uction1 (fset1        
g>ni%m5t1 etc4--  7#a7 ,9 g5]al ,any    
cr$it  1 &  7#c7 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 to1 execution1 levy1 atta*m5t1  
g>ni%m5t1 or o!r legal process1 or !    
op]ation ( any bankruptcy or insolv5cy  
law4  7,b7 ,encod+ ( paym5ts ,z soon z  
practicable1 b n e>li] ?an #aj days aft]
 ! date ( ! enactm5t ( ?is p>agraph1 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 7or !         
,secret>y's delegate7 %all-- 7i7 issue !
 paym5t us+ a unique id5tifi] t is      
reasonably suffici5t to all[ a f9ancial 
in/itution to id5tify ! paym5t z an     
applicable paym5t1 &  7ii7 fur!r encode 
! paym5t pursuant to ! same             
specifications z requir$ = a b5efit     
paym5t def9$ 9 section #bab4c ( title   
#ca1 ,code ( ,f$]al ,regulations4  7,c7 
,g>ni%m5t  7i7 ,encod$ paym5ts ,9 ! case
 ( a g>ni%m5t ord] receiv$ aft] ! date t
 is #aj days aft] ! date ( ! enactm5t ( 
?is p>agraph & 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 sections #bab4f &   
#bab4g ( title #ca1 ,code ( ,f$]al      
,regulations4 ,?is p>agraph %all n alt] 
! /atus ( applicable paym5ts z tax      
refunds or o!r nonb5efit paym5ts =      
purpose ( any reclamation rights ( !    
,dep>tm5t ( ,treasury or ! ,int]nal     
,rev5ue ,s]vice z p] "p #baj ( title #ca
 ( ! ,code ( ,f$]al ,regulations4  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$ ,/ates  
or an ord] t has be5 s]v$ by a ,f$]al1  
,/ate1 or local *ild support en=cem5t   
ag5cy1 t has be5 receiv$ by a f9ancial  
in/itution aft] ! date t is #aj days    
aft] ! date ( ! enactm5t ( ?is p>agraph 
& 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 an        
applicable paym5t t has be5 deposit$ 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 paym5t 79     
addition to any am\nts o!rwise protect$ 
"u "p #bab ( title #ca1 ,code ( ,f$]al  
,regulations71 z exempt f a g>ni%m5t    
ord] )\t requir+ ! cons5t ( ! p>ty s]v+ 
! g>ni%m5t ord] or ! judgm5t cr$itor4   
7iii7 ,liability ,a f9ancial in/itution 
t acts 9 good fai? 9 reliance on clauses
 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>agraph-- 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 ,!      
f9ancial in/itution %all p]=m ! acc\nt  
review foll[+ ! proc$ures outl9$ 9      
section #bab4e ( title #ca1 ,code (     
,f$]al ,regulations & 9 accordance ) !  
requirem5ts ( section #bab4f ( title    
#ca1 ,code ( ,f$]al ,regulations4  7iii7
 ,applicable paym5t ,! t]m applicable   
paym5t means any paym5t ( cr$it or      
refund by reason ( section #fdbh ( !    
,int]nal ,rev5ue ,code ( #aihf 7z s     
add$7 or by reason ( subsection 7c7 (   
?is section4  7iv7 ,g>ni%m5t ,! t]m     
g>ni%m5t means execution1 levy1         
atta*m5t1 g>ni%m5t1 or o!r legal        
process4  7v7 ,g>ni%m5t ord] ,! t]m     
g>ni%m5t ord] means a writ1 ord]1       
notice1 summons1 judgm5t1 levy1 or      
simil> writt5 in/ruction issu$ by a     
c\rt1 a ,/ate or ,/ate ag5cy1 a         

municipality or municipal corporation1  
or a ,/ate *ild support en=cem5t ag5cy1 
includ+ a li5 aris+ by op]ation ( law = 
ov]due *ild support or an ord] to freeze
 ! assets 9 an acc\nt1 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 ( 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  7b7 ,effective date ,!       
am5dm5ts made by ?is section %all take  
effect on ! date ( ! enactm5t ( ?is     
,act4