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US HB826
Bill
Status
1/28/2025
Primary Sponsor
Roger Williams
Click for details
AI Summary
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SBA Inspector General must submit quarterly reports to Congress on fraud related to COVID-19 Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL), with the first report due within 60 days of enactment
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Reports must include the total number and dollar amount of covered loans, new fraud and suspected fraud cases, resolved fraud cases, and types of fraud identified
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Covered loans include those made under Section 7(a) paragraphs 36 and 37 of the Small Business Act (PPP loans) and Section 7(b) disaster loans made in response to COVID-19
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Reporting requirements automatically terminate two years after enactment
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No additional appropriations are authorized to carry out the Act
Legislative Description
COVID Fraud Transparency Act of 2025
Commerce
Last Action
Referred to the House Committee on Small Business.
1/28/2025