119-hr826

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 826 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 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

 January 28, 2025

 Mr. Williams of Texas (for himself, Mr. Latimer, Mr. Bean of Florida, 
and Mr. Mfume) introduced the following bill; which was referred to the 
 Committee on Small Business

_______________________________________________________________________

 A BILL

 To require the Inspector General of the Small Business Administration 
 to submit a quarterly report on fraud relating to certain COVID-19 
 loans.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``COVID Fraud Transparency Act of 
2025''.

SEC. 2. REPORT ON FRAUD RELATING TO CERTAIN COVID-19 LOANS.

    (a) In General.--Not later than 60 days after the date of the 
enactment of this Act, and every 3 months thereafter, the Inspector 
General of the Small Business Administration shall submit to the 
Committee on Small Business of the House of Representatives and the 
Committee on Small Business and Entrepreneurship of the Senate a report 
on the number of borrowers engaged in fraud with respect to a covered 
loan.

    (b) Elements.--The report required under subsection

    (a) shall 
include, with respect to the period covered by such report--

    (1) the number and total dollar amount of all covered loans 
 made;

    (2) the number of new cases of fraud and suspected fraud;

    (3) the number of fraud cases resolved; and

    (4) the types of fraud cases described in paragraphs

    (2) and

    (3) .
            (c) Covered Loan Defined.--In this section, the term ``covered 
loan'' means--

    (1) a loan made under paragraph

    (36) or

    (37) of 

section 7

    (a) of the Small Business Act (15 U.S.C. 636

    (a) ); or

    (2) a loan made under 

section 7

    (b) of such Act (15 U.S.C. 
 636

    (b) ) in response to COVID-19 during the covered period (as 
 defined in 

section 1110

    (a) of the CARES Act (15 U.S.C. 9009)).
            (d) Termination.--This Act and the requirements of this Act shall 
terminate on the date that is two years after the date of the enactment 
of this Act.

SEC. 3. COMPLIANCE WITH CUTGO.

 No additional amounts are authorized to be appropriated to carry 
out this Act.
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