HR 4131 · 99th Congress · Economics and Public Finance

Treasury Check Limited Payability Act

Introduced 1986-02-06· Sponsored by Rep. Wylie, Chalmers P. [R-OH-15]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1986-02-15)

Plain Language Summary

[AI summary unavailable — showing source text] Treasury Check Limited Payability Act - Title I: Time Limit on Payment of Checks - Provides that the Secretary of the Treasury shall not be required to pay a Treasury check unless it is negotiated to a financial institution within the earlier of six months after it is issued or six months after the effective date of this title. Requires that the amount of any Government check which is not paid by the last day of the fiscal year after the fiscal year in which the check was issued be: (1) withdrawn from the account of the depositary on which it was drawn; and (2) returned and credited to the agency appropriation or account initially charged for payment. Allows the Secretary to defer payment of a Treasury check, if the Secretary is on notice of a question of law or fact about whether the check is properly payable, until the Comptroller General settles the question. Directs the Secretary, monthly, to provide to each agency a list of the unpaid Treasury checks issued for such agency which have become more than six months old. Requires each listed check to be canceled and the check amount to be returned and credited to the agency appropriation or account initially charged for payment. Re…

Summarized by Claude AI · Non-partisan · For informational purposes only