Section 1 Increase and streamline recovery of unclaimed assets owed to the United States
“(j)
“(1) The Secretary of the Treasury (referred to in this subsection as the “Secretary”) may locate and recover assets of the United States Government on behalf of any executive, judicial, or legislative agency in accordance with such procedures as the Secretary considers appropriate.
“(2) Notwithstanding any other provision of law concerning the depositing or collection of Federal payments, including section 3302(b), the Secretary may retain a portion of the amounts recovered under this subsection to cover the administrative and operational costs of the Secretary associated with locating and recovering assets of the United States Government.
“(3) The Secretary shall use any funds appropriated to the Secretary to carry out this subsection.
“(4) Any savings associated with carrying out this subsection shall be transferred to the general fund of the Treasury for the purpose of deficit reduction.”