MIDMONTH PAYMENT OF BASIC PAY FOR CONTRIBUTIONS OF MEMBERS OF THE UNIFORMED SERVICES PARTICIPATING IN THRIFT SAVINGS PLAN.

SEC. 605. MIDMONTH PAYMENT OF BASIC PAY FOR CONTRIBUTIONS OF MEMBERS OF THE UNIFORMED SERVICES PARTICIPATING IN THRIFT SAVINGS PLAN.(a) Semi-Monthly Deposit of Member’s Contributions.—Section 1014 of title 37, United States Code, is amended by adding at the end the following new subsection:“(c) With respect to a member of the uniformed services who has elected to participate in the Thrift Savings Plan under section 211 of this title, subsection (a) does not preclude the payment of an amount equal to one-half of the monthly deposit to the Thrift Savings Fund otherwise to be made by the member in participating in the Plan, which amount may be deposited in the Thrift Savings Fund at midmonth.”.(b) Semi-Monthly Repayment of Borrowed Amounts.—Section 211 of such title is amended by adding at the end the following new subsection:122 STAT. 147 “(e) Repayment of Amounts Borrowed From Member Account.—If a loan is issued to a member under section 8433(g) of title 5 from funds in the member’s account in the Thrift Savings Plan, repayment of the loan may be required on the same semi-monthly basis as authorized for contributions to the Thrift Savings Fund on behalf of the member under section 1014(c) of this title.”.