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House Bill 8102
116th Congress(2019-2020)
To amend the Expedited Funds Availability Act to require funds deposited by check from the Federal Government to be made available immediately.
Introduced
Introduced
Introduced in House on Aug 25, 2020
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Introduced in House 
Aug 25, 2020
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Introduced in House(Aug 25, 2020)
Aug 25, 2020
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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H. R. 8102 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 8102


To amend the Expedited Funds Availability Act to require funds deposited by check from the Federal Government to be made available immediately.

IN THE HOUSE OF REPRESENTATIVES

August 25, 2020

Mr. Foster introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Expedited Funds Availability Act to require funds deposited by check from the Federal Government to be made available immediately.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Availability of funds in connection with Federal Government checks.

(a) In general.—Section 603(a) of the Expedited Funds Availability Act (12 U.S.C. 4002(a)) is amended—

(1) in the heading, by striking “Next Business Day”;

(2) by redesignating paragraph (2) as paragraph (3);

(3) by inserting after paragraph (1) the following:

“(2) GOVERNMENT CHECKS.—Funds deposited in an account at a depository institution by check shall be available for withdrawal immediately in the case of a check which—

“(A) is drawn on the Treasury of the United States; and

“(B) is endorsed only by the person to whom it was issued.”; and

(4) in paragraph (3), as so redesignated—

(A) in the heading, by striking “Government checks; certain” and inserting “Certain”;

(B) by striking subparagraph (A); and

(C) by redesignating subparagraphs (B) through (F) as subparagraphs (A) through (E), respectively.

(b) Conforming amendments.—The Expedited Funds Availability Act (12 U.S.C. 4001 et seq.) is amended—

(1) by striking “subsections (a)(2)” each place such term appears and inserting “subsections (a)(2), (a)(3)”;

(2) by striking “in subsection (a)(2)” each place such term appears and inserting “in paragraph (2) or (3) of subsection (a)”;

(3) in section 603—

(A) in subsection (b)(3)(C), by striking “subsection (a)(2)(D)” and inserting “subsection (a)(3)(C)”; and

(B) in subsection (c)(1)(B)(iii), by striking “subsection (a)(2)(D)” and inserting “subsection (a)(3)(C)”; and

(4) in section 604—

(A) in subsection (a)(1)(D), by striking “subparagraph (A), (B), or (C) of section 603(a)(2)” and inserting “section 603(a)(2) or subparagraph (A) or (B) of section 603(a)(3)”; and

(B) in subsection (b), by striking “subsection (a)(2)” and inserting “subsection (a)(2), (a)(3)”.