What is the official ID of this bill?
The official print number for this legislation is S 823.
Protection of Recovery Rebates: Safeguarding Payments from Garnishment
This act aims to protect recovery rebates issued under the American Rescue Plan Act of 2021. The changes prevent these funds from being seized by creditors, garnishments, or in bankruptcy proceedings, ensuring the money reaches the intended recipients. Banks will be required to protect these payments, even if not specifically encoded.
Key points
2021 recovery rebates cannot be transferred, assigned, or subjected to garnishment, levy, or bankruptcy laws.
Financial institutions must follow specific procedures to protect these payments from garnishment, even if not electronically encoded.
The Treasury will use unique identifiers for electronic payments to help banks identify and protect them.
Certain federal debts, like overdue taxes or child support, may still allow for reduction or offset of these payments.
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.