1、Congressional Research Service ? The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20047Updated January 5, 2001“EFT99:” Electronic Federal Payments; Waiver PolicyPauline H. SmaleAnalyst in EconomicsGovernment and Finance DivisionSummaryThe Debt Collection Improve
2、ment Act of 1996 (P.L. 104-134) requires all federalpayments (other than IRS tax refunds) to be made by electronic funds transfer (EFT)beginning January 1999. Regulations issued by the Department of the Treasury willimplement the law now commonly referred to as EFT99. The law provides the Treasurywi
3、th broad authority to define exception categories and grant waivers. On September11, 1997, the Treasury published a proposed rule to implement EFT99 and allowed 90days for public comment. Many of the 212 comment letters received involved thewaiver provisions, most of them requested a broader, more f
4、lexible waiver policy. OnSeptember 25, 1998 the Treasury issued a final rule which included an amended waiverpolicy. This report will not be updated. For additional background on the law and itsimplementation please see EFT99: Mandatory Electronic Federal Payments forConsumers, CRS Report 97-697, by
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