H.R. 7334 — Reported in House

IB Union Calendar No. 245 117th CONGRESS 2d Session H. R. 7334 [Report No. 117–327] IN THE HOUSE OF REPRESENTATIVES March 31, 2022 Mr. Luetkemeyer (for himself and Ms. Velázquez) introduced the following bill; which was referred to the Committee on Small Business May 17, 2022 Additional sponsors: Ms. Davids of Kansas and Ms. Van Duyne May 17, 2022 Reported from the Committee on Small Business; committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL To extend the statute of limitations for fraud by borrowers under certain COVID–19 economic injury disaster loan programs of the Small Business Administration, and for other purposes. 1. Short title This Act may be cited as the COVID–19 EIDL Fraud Statute of Limitations Act of 2022. 2. Extension of statute of limitations for certain COVID–19 economic injury disaster loan programs (a) Certain economic injury disaster loans Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is amended by inserting after paragraph (15) the following new paragraph: (16) Statute of Limitations Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to a loan made under this subsection in response to COVID–19 during the covered period (as defined in section 1110(a) of the CARES Act) shall be filed not later than 10 years after the offense was committed. . (b) EIDL advances Section 1110(e) of the CARES Act (15 U.S.C. 9009(e)) is amended by adding at the end the following new paragraph: (9) Statute of Limitations Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to the use of an advance received under this subsection shall be filed not later than 10 years after the offense was committed. . (c) Targeted EIDL advances Section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (15 U.S.C. 9009b) is amended by adding at the end the following new subsection: (i) Statute of Limitations Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to the use of any amount received pursuant to this section shall be filed not later than 10 years after the offense was committed. . May 17, 2022 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed