COVID Fraud Transparency Act of 2025

Bill: 119-hr-826
Sponsor: full_name: Rep. Williams, Roger [R-TX-25]
Introduced: 2025-01-28
Policy area: Commerce
Latest action: action_date: 2025-01-28
text: Referred to the House Committee on Small Business.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 826 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.

1. Short title This Act may be cited as the COVID Fraud Transparency Act of 2025 . 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. 3. Compliance with CUTGO No additional amounts are authorized to be appropriated to carry out this Act.