US HB7412

Establishes an Office of Whistleblower Awards within the Small Business Administration to receive and evaluate tips about financial misconduct or fraud by recipients of SBA financial assistance

Awards whistleblowers 10% of recovered amounts when the convicted party is a U.S. national or domestic entity, or 15% when the convicted party is a foreign national or foreign entity

Creates a Whistleblower Award Fund in the Treasury, funded by amounts collected from convictions, settlements, and plea agreements related to COVID loan fraud cases

Imposes a 30% civil monetary penalty (based on aggregate loan principal amounts) on persons convicted of or settling COVID loan fraud, in addition to other penalties

Includes anti-retaliation protections prohibiting discrimination against whistleblowers, with payments required within one year of fund deposits and annual reporting to Congress on program activity