Service of the Department of the Treasury, in 
United States Treasury bills issued under chapter 
31 of title 31, United States Code, with maturities 
suitable for the needs of the Fund and selected so 
as to provide the highest return on investment for 
participating taxpayers. 
(3) DISBURSEMENTS FROM FUND.— 
(A) IN GENERAL.—On the date that is 180 
days after receipt of the individual income tax 
return of a participating taxpayer, the amounts 
in the Rainy Day Fund shall be made available 
to the Secretary to distribute to such taxpayer 
in an amount equal to the amount deferred by 
such taxpayer under subsection (a) and any in-
terest accrued on such amount (as determined 
under paragraph (4)). 
(B) DISTRIBUTED TO BANK ACCOUNT.— 
The amounts described in subparagraph (A) 
shall be distributed to the bank account identi-
fied by the participating taxpayer under sub-
section (d)(3). 
(4) INTEREST ACCRUED.—The amount of inter-
est accrued on the amount deferred by a partici-
pating taxpayer under subsection (a) shall be deter-
mined by the Secretary, in coordination with the Bu-
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reau of the Fiscal Service of the Department of the 
Treasury, based upon the return on the investment 
of such amounts under paragraph (2). 
(5) EARLY WITHDRAWAL.— 
(A) IN GENERAL.—On any date during the 
period between the date which is 30 days after 
receipt by the Secretary of the individual in-
come tax return of the participating taxpayer 
and October 15 of the applicable year, such tax-
payer may elect to terminate the deferral of the 
amount described under subsection (a) and re-
ceive a distribution from the Rainy Day Fund 
equal to such amount and any interest which 
has accrued on such amount up to that date. 
(B) COMPLETE WITHDRAWAL.—A partici-
pating taxpayer making an election under sub-
paragraph (A) must terminate deferral of the 
full amount described under subsection (a), and 
such amount shall be distributed to the bank 
account identified by the participating taxpayer 
under subsection (d)(3). 
(d) PARTICIPATING TAXPAYER.—For purposes of 
this section, the term ‘‘participating taxpayer’’ means a 
taxpayer who— 
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(1) has not requested or received an extension 
of the time for payment of taxes for such taxable 
year under section 6161 of the Internal Revenue 
Code of 1986; 
(2) prior to the due date for filing the return 
of tax for such taxable year, elects to participate in 
the Refund to Rainy Day Savings Program; and 
(3) provides the Secretary with a bank account 
number and any other financial information deemed 
necessary by the Secretary for purposes of para-
graphs (3)(B) and (5)(B) of subsection (c). 
(e) FORMS.—The Secretary shall ensure that the 
election to defer payment of the amount described in sub-
section (a) may be claimed on Forms 1040, 1040A, and 
1040EZ. 
(f) IMPLEMENTATION.— 
(1) 
EDUCATIONAL
MATERIALS
AND
OUT-
REACH.—The Secretary shall— 
(A) design educational materials for tax-
payers regarding financial savings and the Re-
fund to Rainy Day Savings Program; 
(B) publicly disseminate and distribute 
such materials during the first calendar quarter 
of each calendar year and following disburse-
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ment of amounts described in subsection (c)(3); 
and 
(C) engage in outreach regarding the Re-
fund to Rainy Day Savings Program to the Vol-
unteer Income Tax Assistance program and 
paid tax preparers. 
(2) INFORMATION
FOR
PARTICIPATING
TAX-
PAYERS.—The Secretary shall ensure that a partici-
pating taxpayer is able to electronically verify the 
status of the amount deferred by such taxpayer 
under subsection (a), including any interest accrued 
on such amount and the status of any distribution. 
(3) 
FEDERALLY
FUNDED
BENEFITS.—Any 
amounts described in subsection (a) which are dis-
tributed to a participating taxpayer, including any 
interest accrued on such amount, shall be treated in 
the same manner as any refund made to such tax-
payer under section 32 of the Internal Revenue Code 
of 1986 for purposes of determining the eligibility of 
such taxpayer for benefits or assistance, or the 
amount or extent of benefits or assistance, under 
any Federal program or under any State or local 
program financed in whole or in part with Federal 
funds. 
Æ 
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