IIB
118th CONGRESS
1st Session
H. R. 4666
IN THE SENATE OF THE UNITED STATES
December 4, 2023
Received; read twice and referred to the Committee on Small Business and Entrepreneurship
AN ACT
To require the Inspector General of the Small Business Administration to submit a quarterly report on fraud relating to certain COVID–19 loans.
Report on fraud relating to certain COVID–19 loans
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.
Elements
The report required under subsection (a) shall include, with respect to the period covered by such report—
the number and total dollar amount of all covered loans made;
the number of new cases of fraud and suspected fraud;
the number of fraud cases resolved; and
the types of fraud cases described in paragraphs (2) and (3).
Covered loan defined
In this section, the term covered loan means—
a loan made under paragraphs (36) or (37) of section 7(a) of the Small Business Act (15 U.S.C. 636(a)); or
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)).
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.
Compliance with CUTGO
No additional amounts are authorized to be appropriated to carry out this Act.
Passed the House of Representatives November 30, 2023.
Kevin F. McCumber,
Clerk.