US HB7312

Establishes the Federal Fraud Interagency Task Force within 90 days of enactment to investigate and combat fraud involving federal dollars and recover misused funds

President must appoint a Director with a 4-year term within 180 days, requiring 10 years of experience in fraud investigation or federal law enforcement

Task Force members appointed from 13 covered agencies (State, Treasury, Defense, Justice, Interior, Labor, HHS, HUD, Transportation, Energy, Education, Veterans Affairs, Homeland Security) plus any additional agencies designated by the President

Requires annual reports to Congress detailing investigations initiated, cases referred for prosecution, funds recovered, fraud trends by sector and agency, and prevention recommendations

Government Accountability Office must conduct annual audits of Task Force operations and spending