; or (ii) the head of the agency receives information from the Secretary of the Treasury (as authorized under paragraph (1)(B)) demonstrating that such a certification submitted by such applicant is false. (B) Waiver The head of an executive agency may waive subparagraph (A) with respect to an applicant based upon a written finding of urgent and compelling circumstances significantly affecting the interests of the United States. If the head of an executive agency waives subparagraph (A) for an applicant, the head of the agency shall submit to the Committee on Oversight and Government Reform of the House of Representatives and the Committee on Homeland Security and Governmental Affairs of the Senate, within 30 days after the waiver is made, a report containing the rationale for the waiver and relevant information supporting the waiver decision. (4) Release of information The Secretary of the Treasury, in consultation with the Director of the Office of Management and Budget, shall make available to all executive agencies a standard form for the authorization described in paragraph (1)(B). (5) Revision of regulations Not later than 270 days after the date of the enactment of this Act, the Director of the Office of Management and Budget shall revise such regulations as necessary to incorporate the requirements of this section. (d) Definitions and special rules For purposes of this section: (1) Executive agency The term executive agency has the meaning given such term in section 133 of title 41, United States Code. (2) Seriously delinquent tax debt (A) In general The term seriously delinquent tax debt means a Federal tax liability that— (i) has been assessed by the Secretary of the Treasury under the Internal Revenue Code of 1986; and (ii) may be collected by the Secretary by levy or by a proceeding in court. (B) Exceptions Such term does not include— (i) a debt that is being paid in a timely manner pursuant to an agreement under section 6159 or section 7122 of such Code