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H.R. 826 · House bill · 119th Congress
This bill requires the Small Business Administration's Office of Inspector General to report quarterly to Congress about fraud cases involving certain COVID-19 loans (e.g., Paycheck Protection Program loans).
The report must include the
number and total dollar amount of such loans,
number of new cases of fraud and suspected fraud,
number of fraud cases resolved, and
types of such cases of fraud.
The reporting requirements terminate two years after this bill is enacted.
This Act may be cited as the “COVID Fraud Transparency Act of 2026”.
(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.
No such funds are authorized to be appropriated to carry out this Act.