Section 14Q. The commissioner may enter into an agreement with the Secretary of the Department of Treasury, pursuant to 26 U.S.C. section 6402(f) and 31 CFR section 285.8, to transmit valid, unpaid, and overdue unemployment compensation debts to the Financial Management Service, a bureau of the United States Department of the Treasury, for collection by offset of federal tax refund payments through the treasury offset program. If the commissioner chooses to participate in the treasury offset program to recover unemployment compensation debt, the commissioner shall adhere to all rules, policies, and guidance as required by the United States Department of the Treasury and the United States Department of Labor in implementing and administering the program. The commissioner may promulgate such regulations as needed to implement this section.