Summary: H.R.413 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.413. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (02/06/2001)

Child Support Reserve Trust Act - Amends part D (Child Support and Establishment of Paternity) of title IV of the Social Security Act to require a State plan for child and spousal support to provide that, as of January 1, 2001, the State agency will have in effect a State reserve trust system that requires: (1) the use of certain procedures; and (2) establishes a State reserve trust unit to implement them.

Requires a State reserve unit to: (1) withhold the net proceeds from the sale or refinancing of real property in the State against which a lien exists for overdue child support by the seller or refinancer, without regard to whether such lien has ever been extinguished; (2) apply the net proceeds to any overdue support owed by such person; (3) hold a certain amount of such proceeds in trust for the benefit of the child or children for whom the person has a support obligation (anticipated future child support); and (4) apply such amounts to satisfy such overdue child support, if other available remedies are insufficient to do so.