Subsidy Termination for Overdue Payments Act of 2001

This bill would require individuals and businesses to certify that they are not more than 60 days behind on court-ordered child support payments before they can receive federal financial assistance, such as grants or loans. If an applicant is behind on payments, they could still qualify for assistance if they are complying with a government-approved repayment plan. The legislation includes exceptions for cases where the financial assistance is already being garnished to pay child support or where specific "good cause" circumstances exist.