other · Fiscal Service · Rule · Published 2000-04-19 · Effective 2000-04-19 · 65 FR 20905
Document
Document number
00-9755
Federal Register citation
65 FR 20905
CFR reference
31 CFR 247
Type
Rule
Action
Final rule; removal.
Category
other
Sub-agency
Fiscal Service
Publication date
2000-04-19
Effective date
2000-04-19
Abstract
The Financial Management Service (FMS) is removing Part 247 from Title 31 of the Code of Federal Regulations. This Part governs the use of FedSelect checks by Federal agencies in making certain Federal payments. The Debt Collection Improvement Act of 1996 (DCIA) and implementing regulations require that most Federal payments be made electronically after January 1, 1999. The increased use of electronic funds transfer (EFT) has resulted in lower check volumes and reduced Federal agency reliance on non-EFT payment mechanisms. Due to the decrease in check volume and the availability of low cost alternatives to FedSelect, such as third party drafts, FMS has determined that FedSelect is no longer a cost-effective mechanism for making certain Federal government payments and is terminating the program on March 31, 2000.