MODIFICATION OF LEVY EXEMPTION.

SEC. 1025. MODIFICATION OF LEVY EXEMPTION. (a) In General.—Section 6334 (relating to property exempt from levy) is amended by redesignating subsection (f) as subsection (g) and by inserting after subsection (e) the following new subsection: “(f) Levy Allowed on Certain Specified Payments.—Any payment described in subparagraph (B) or (C) of section 6331(h)(2) shall not be exempt from levy if the Secretary approves the levy thereon under section 6331(h).”. (b) Effective Date.—The amendment made by subsection (a) shall apply to levies issued after the date of the enactment of this Act.