CONTINUOUS LEVY ON CERTAIN PAYMENTS.

SEC. 1024. CONTINUOUS LEVY ON CERTAIN PAYMENTS. (a) In General.—Section 6331 (relating to levy and distraint) is amended— (1) by redesignating subsection (h) as subsection (i), and (2) by inserting after subsection (g) the following new subsection: “(h) Continuing Levy on Certain Payments.— “(1) In general.—The effect of a levy on specified payments to or received by a taxpayer shall be continuous from the date such levy is first made until such levy is released. Notwithstanding section 6334, such continuous levy shall attach to up to 15 percent of any specified payment due to the taxpayer. “(2) Specified payment.—For the purposes of paragraph (1), the term ‘specified payment’ means—111 STAT. 924 “(A) any Federal payment other than a payment for which eligibility is based on the income or assets (or both) of a payee, “(B) any payment described in paragraph (4), (7), (9), or (11) of section 6334(a), and “(C) any annuity or pension payment under the Railroad Retirement Act or benefit under the Railroad Unemployment Insurance Act.”. (b) Effective Date.—The amendment made by subsection (a) shall apply to levies issued after the date of the enactment of this Act.