[Code of Federal Regulations]
[Title 45, Volume 4]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 45CFR2506.20]

[Page 566]
 
                        TITLE 45--PUBLIC WELFARE
 
       CHAPTER XXV--CORPORATION FOR NATIONAL AND COMMUNITY SERVICE
 
PART 2506_COLLECTION OF DEBTS--Table of Contents
 
                      Subpart B_General Provisions.
 
Sec. 2506.20  What is the extent of the Chief Executive Officer's 

authority to compromise debts owed to the Corporation, or to suspend 
or terminate collection 
          action on such debts?

    (a) The Chief Executive Officer may compromise, suspend, or 
terminate collection action on those debts owed to the Corporation that 
do not exceed $100,000 excluding interest, in conformity with the 
Federal Claims Collection Act of 1966, as amended. The Corporation will 
follow the policies in Sec. 902.2 of the FCCS.
    (b) The uncollected portion of a debt owed to the Corporation that 
is not recovered as the result of a compromise will be reported to the 
Internal Revenue Service (IRS) as income to the debtor in accordance 
with IRS procedures if this uncollected amount is at least $600.00.