I
119THCONGRESS
1
STSESSION H. R. 826
To require the Inspector General of the Small Business Administration to
submit a quarterly report on fraud relating to certain COVID–19 loans.
IN THE HOUSE OF REPRESENTATIVES
JANUARY28, 2025
Mr. W
ILLIAMSof Texas (for himself, Mr. LATIMER, Mr. BEANof Florida, and
Mr. M
FUME) introduced the following bill; which was referred to the
Committee on Small Business
A BILL
To require the Inspector General of the Small Business Ad-
ministration to submit a quarterly report on fraud relat-
ing to certain COVID–19 loans.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘COVID Fraud Trans-4
parency Act of 2025’’. 5
SEC. 2. REPORT ON FRAUD RELATING TO CERTAIN COVID– 6
19 LOANS. 7
(a) I
NGENERAL.—Not later than 60 days after the 8
date of the enactment of this Act, and every 3 months 9
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thereafter, the Inspector General of the Small Business 1
Administration shall submit to the Committee on Small 2
Business of the House of Representatives and the Com-3
mittee on Small Business and Entrepreneurship of the 4
Senate a report on the number of borrowers engaged in 5
fraud with respect to a covered loan. 6
(b) E
LEMENTS.—The report required under sub-7
section (a) shall include, with respect to the period covered 8
by such report— 9
(1) the number and total dollar amount of all 10
covered loans made; 11
(2) the number of new cases of fraud and sus-12
pected fraud; 13
(3) the number of fraud cases resolved; and 14
(4) the types of fraud cases described in para-15
graphs (2) and (3). 16
(c) C
OVEREDLOANDEFINED.—In this section, the 17
term ‘‘covered loan’’ means— 18
(1) a loan made under paragraph (36) or (37) 19
of section 7(a) of the Small Business Act (15 U.S.C. 20
636(a)); or 21
(2) a loan made under section 7(b) of such Act 22
(15 U.S.C. 636(b)) in response to COVID–19 dur-23
ing the covered period (as defined in section 1110(a) 24
of the CARES Act (15 U.S.C. 9009)). 25
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(d) TERMINATION.—This Act and the requirements 1
of this Act shall terminate on the date that is two years 2
after the date of the enactment of this Act. 3
SEC. 3. COMPLIANCE WITH CUTGO. 4
No additional amounts are authorized to be appro-5
priated to carry out this Act. 6
Æ
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