| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 826 |
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| 5 | 5 | | To require the Inspector General of the Small Business Administration to |
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| 6 | 6 | | submit a quarterly report on fraud relating to certain COVID–19 loans. |
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| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
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| 8 | 8 | | JANUARY28, 2025 |
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| 9 | 9 | | Mr. W |
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| 10 | 10 | | ILLIAMSof Texas (for himself, Mr. LATIMER, Mr. BEANof Florida, and |
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| 11 | 11 | | Mr. M |
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| 12 | 12 | | FUME) introduced the following bill; which was referred to the |
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| 13 | 13 | | Committee on Small Business |
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| 14 | 14 | | A BILL |
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| 15 | 15 | | To require the Inspector General of the Small Business Ad- |
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| 16 | 16 | | ministration to submit a quarterly report on fraud relat- |
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| 17 | 17 | | ing to certain COVID–19 loans. |
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| 18 | 18 | | Be it enacted by the Senate and House of Representa-1 |
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| 19 | 19 | | tives of the United States of America in Congress assembled, 2 |
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| 20 | 20 | | SECTION 1. SHORT TITLE. 3 |
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| 21 | 21 | | This Act may be cited as the ‘‘COVID Fraud Trans-4 |
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| 22 | 22 | | parency Act of 2025’’. 5 |
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| 23 | 23 | | SEC. 2. REPORT ON FRAUD RELATING TO CERTAIN COVID– 6 |
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| 24 | 24 | | 19 LOANS. 7 |
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| 25 | 25 | | (a) I |
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| 26 | 26 | | NGENERAL.—Not later than 60 days after the 8 |
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| 27 | 27 | | date of the enactment of this Act, and every 3 months 9 |
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| 28 | 28 | | VerDate Sep 11 2014 00:21 Feb 25, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H826.IH H826 |
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| 29 | 29 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 30 | 30 | | •HR 826 IH |
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| 31 | 31 | | thereafter, the Inspector General of the Small Business 1 |
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| 32 | 32 | | Administration shall submit to the Committee on Small 2 |
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| 33 | 33 | | Business of the House of Representatives and the Com-3 |
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| 34 | 34 | | mittee on Small Business and Entrepreneurship of the 4 |
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| 35 | 35 | | Senate a report on the number of borrowers engaged in 5 |
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| 36 | 36 | | fraud with respect to a covered loan. 6 |
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| 37 | 37 | | (b) E |
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| 38 | 38 | | LEMENTS.—The report required under sub-7 |
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| 39 | 39 | | section (a) shall include, with respect to the period covered 8 |
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| 40 | 40 | | by such report— 9 |
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| 41 | 41 | | (1) the number and total dollar amount of all 10 |
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| 42 | 42 | | covered loans made; 11 |
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| 43 | 43 | | (2) the number of new cases of fraud and sus-12 |
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| 44 | 44 | | pected fraud; 13 |
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| 45 | 45 | | (3) the number of fraud cases resolved; and 14 |
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| 46 | 46 | | (4) the types of fraud cases described in para-15 |
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| 47 | 47 | | graphs (2) and (3). 16 |
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| 48 | 48 | | (c) C |
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| 49 | 49 | | OVEREDLOANDEFINED.—In this section, the 17 |
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| 50 | 50 | | term ‘‘covered loan’’ means— 18 |
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| 51 | 51 | | (1) a loan made under paragraph (36) or (37) 19 |
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| 52 | 52 | | of section 7(a) of the Small Business Act (15 U.S.C. 20 |
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| 53 | 53 | | 636(a)); or 21 |
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| 54 | 54 | | (2) a loan made under section 7(b) of such Act 22 |
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| 55 | 55 | | (15 U.S.C. 636(b)) in response to COVID–19 dur-23 |
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| 56 | 56 | | ing the covered period (as defined in section 1110(a) 24 |
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| 57 | 57 | | of the CARES Act (15 U.S.C. 9009)). 25 |
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| 58 | 58 | | VerDate Sep 11 2014 00:21 Feb 25, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H826.IH H826 |
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| 59 | 59 | | ssavage on LAPJG3WLY3PROD with BILLS 3 |
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| 60 | 60 | | •HR 826 IH |
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| 61 | 61 | | (d) TERMINATION.—This Act and the requirements 1 |
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| 62 | 62 | | of this Act shall terminate on the date that is two years 2 |
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| 63 | 63 | | after the date of the enactment of this Act. 3 |
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| 64 | 64 | | SEC. 3. COMPLIANCE WITH CUTGO. 4 |
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| 65 | 65 | | No additional amounts are authorized to be appro-5 |
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| 66 | 66 | | priated to carry out this Act. 6 |
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| 67 | 67 | | Æ |
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| 68 | 68 | | VerDate Sep 11 2014 00:21 Feb 25, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H826.IH H826 |
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| 69 | 69 | | ssavage on LAPJG3WLY3PROD with BILLS |
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