Page:United States Statutes at Large Volume 110 Part 2.djvu/515

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PUBLIC LAW 104-134—APR. 26, 1996 110 STAT. 1321-368 "(8) Not later than January 1 of each year, there shall be deposited into the Treasury as miscellaneous receipts an amount equal to the amount of unobligated balances remaining in the Account at the close of business on September 30 of the preceding year, minus any part of such balance that the executive department or agency operating the debt collection center determines is necessary to cover or defray the costs under this subsection for the fiscal year in which the deposit is made. "(9) Before discharging any delinquent debt owed to any executive, judicial, or legislative agency, the head of such agency shall take all appropriate steps to collect such debt, including (as applicable)— "(A) administrative offset, "(B) tax refund offset, "(C) Federal salary offset, "(D) referral to private collection contractors, "(E) referral to agencies operating a debt collection center, "(F) reporting delinquencies to credit reporting bureaus, "(G) garnishing the wages of delinquent debtors, and "(H) litigation or foreclosure. "(10) To carry out the purposes of this subsection, the Secretary of the Treasury may prescribe such rules, regulations, and procedures as the Secretary considers necessary and transfer such funds from funds appropriated to the Department of the Treasury as may be necessary to meet existing liabilities and obligations incurred prior to the receipt of revenues that result from debt collections. "(h)(1) The head of an executive, judicial, or legislative agency acting under subsection (a)(1), (2), or (3) of this section to collect a claim, compromise a claim, or terminate collection action on a claim may obtain a consumer report (as that term is defined in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a)) or comparable credit information on any person who is liable for the claim. "(2) The obtaining of a consumer report under this subsection is deemed to be a circumstance or purpose authorized or listed under section 604 of the Fair Credit Reporting Act (15 U.S.C. 1681b).". (2) RETURNS RELATING TO CANCELLATION OF INDEBTEDNESS BY CERTAIN ENTITIES. — (A) IN GENERA!..— Subsection (a) of section 6050P of the Internal Revenue Code of 1986 (relating to returns relating to the cancellation of indebtedness by certain financial entities) is amended by striking "applicable financial entity" and inserting "applicable entity". (B) ENTITIES TO WHICH REQUIREMENT APPLIES. —Subsection (c) of section 6050P of such Code is amended— (i) by redesignating paragraphs (1) and (2) as paragraphs (2) and (3), respectively, and inserting before paragraph (2) (as so redesignated) the following new paragraph: "(1) APPLICABLE ENTITY. — The term 'applicable entity* means— "(A) an executive, judicial, or legislative agency (as defined in section 3701(a)(4) of title 31, United States Code), and "(B) an applicable financial entity.", and