,,ii #aag? ,,congress #a/ ,session ,s4 #hbc ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #ah1 #bjba,mr4 ,br[n 7= himself1 ,mr4 ,wyd51 ,mr4 ,m55dez1 & ,mr4 ,van ,holl57 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,am]ican ,rescue ,plan ,act ( #bjba to provide = protection ( recov]y rebates4 #a4 ,protection ( #bjba recov]y rebates 7a7 ,9 g5]al ,subsection 7c7 ( section #ifja ( ! ,am]ican ,rescue ,plan ,act ( #bjba 7,public ,law #aag-b7 is am5d$-- 7#a7 9 p>agraph 7#b71 by /rik+ subp>agraphs 7,a7 & 7,b7 & ins]t+ ! foll[+3 7,a7 subject to r$uction or (fset pursuant to section #cgaf or #cgbj;,a ( title #ca1 ,unit$ ,/ates ,code1 or simil> au?ority p]mitt+ (fset1 7,b7 subject to r$uction or (fset pursuant to subsection 7c71 7d71 7e71 or 7f7 ( section #fdjb ( ! ,int]nal ,rev5ue ,code ( #aihf1 or 7,c7 r$uc$ or (fset by o!r assess$ ,f$]al taxes t w\ld o!rwise be subject to levy or collection4 1 & 7#b7 by add+ at ! end ! foll[+ new p>agraph3 7#d7 ,assignm5t ( b5efits 7,a7 ,9 g5]al ,! "r ( any p]son to any applicable paym5t %all n be transf]able or assignable1 at law or 9 equity1 & no applicable paym5t %all be subject to1 execution1 levy1 atta*m5t1 g>ni%m5t1 or o!r legal process1 or ! op]ation ( any bankruptcy or insolv5cy law4 7,b7 ,encod+ ( paym5ts ,9 ! case ( an applicable paym5t describ$ 9 subp>agraph 7,e77iii77,i7 t is c]tifi$ = paym5t aft] ! date ( ! enactm5t ( ?is p>agraph "u section #cebh ( title #ca1 ,unit$ ,/ates ,code1 & 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] 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-- 7,i7 not)/&+ section #bab4d ( title #ca1 ,code ( ,f$]al ,regulations 7& except z provid$ 9 subclause 7,,ii771 a f9ancial in/itution %all n fail to foll[ ! proc$ures ( sections #bab4e & #bab4f ( su* title ) respect to a g>ni%m5t ord] m]ely because su* ord] has atta*$1 or includes1 a notice ( "r to g>ni% ,f$]al b5efits issu$ by a ,/ate *ild support en=cem5t ag5cy1 & 7,,ii7 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$]al ,regulations4 7ii7 ,o!r paym5ts ,9 ! case ( a g>ni%m5t ord] 7o!r ?an an ord] t has be5 s]v$ by ! ,unit$ ,/ates7 t has be5 receiv$ by a f9ancial in/itution & 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 on any date dur+ ! lookback p]iod or into :i* 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$]al or ,/ate law1 regulation1 c\rt or o!r ord]1 or regulatory int]pretation = actions conc]n+ any applicable paym5ts4 7,d7 ,no reclamation rights ,?is p>agraph %all n alt] ! /atus ( applicable paym5ts z tax refunds or o!r nonb5efit paym5ts = purpose ( any reclamation rights ( ! ,dep>tm5t ( ! ,treasury or ! ,int]nal ,rev5ue ,s]vice z p] "p #baj ( title #ca1 ,code ( ,f$]al ,regulations4 7,e7 ,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-- 7,i7 any advance refund am\nt paid pursuant to section #fdbh;,b7g7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 7,,ii7 any paym5t made by a possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em 7z def9$ 9 subsection 7b7 ( ?is section7 pursuant to su* subsection :i* corresponds to a paym5t describ$ 9 subclause 7,i71 & 7,,iii7 any paym5t made by a possession ( ! ,unit$ ,/ates )\t a mirror code tax sy/em 7z s def9$7 pursuant to subsection 7b7 ( ?is section4 7iv7 ,g>ni%m5t ,! t]m g>ni%m5t means execution1 levy1 atta*m5t1 g>ni%m5t1 or o!r legal process4 7v7 ,g>ni%m5t ord] ,! t]m g>ni%m5t ord] means a writ1 ord]1 notice1 summons1 judgm5t1 levy1 or simil> writt5 in/ruction issu$ 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 ,! am5dm5t made by ?is section %all take effect on ! date ( ! enactm5t ( ?is ,act4