§3334 Cancellation and proceeds distribution of Treasury checks

Summary

Each month, starting in the 14th month after this law takes effect, the Treasury Secretary must give each agency a list of that agency’s Treasury checks (issued on or after the effective date) that became unpaid and over 12 months old in the prior month. The Secretary must cancel those checks and return the money to the original account that paid them. Within 18 months after the effective date, the Secretary must also cancel unpaid checks issued before that date under section 3328. The money from those cancellations must first be used to clear Treasury balances for uncollectible debts and payment costs for all agencies; any leftover goes to the Treasury’s miscellaneous receipts. Canceling a check does not remove the government’s original payment obligation.