TIME UMIT ON PAYMENT OF TREASURY CHECKS.

SEC. 1002. TIME UMIT ON PAYMENT OF TREASURY CHECKS. Section 3328 of title 31, United States Code, is amended— (1) by striking out subsection (a) and inserting in lieu thereof the following: “(a) Time Limit on Treasury Checks.— “(1) In general.— Except as provided in sections 3329 and 3330 of this title— “(A) the Secretary shall not be required to pay a Treasury check issued on or after the effective date of this section unless it is negotiated to a financial institution within 12 months after the date on which the check was issued; and “(B) the Secretary shall not be required to pay a Treasury check issued before the effective date of this section unless it is negotiated to a financial institution within 12 months after such effective date. “(2) Deferral pending settlement.— Notwithstanding the time limitations imposed by paragraph (1), if the Secretary is on notice of a question of law or fact about whether a Treasury check is properly payable when the check is presented for payment, the Secretary may defer payment on such check until the Comptroller General settles the question. “(3) Nothing in this subsection shall be construed to affect the underlying obligation of the United States, or any agency thereof, for which a Treasury check was issued.”; and (2) by adding at the end thereof the following: “(f) Authority To Decune Payment.— Nothing in this section limits the authority of the Secretary to decline payment of a Treasury check after first examination thereof at the Treasury.”.