H.R. 7352 — Referred from Senate

IIB 117th CONGRESS 2d Session H. R. 7352 IN THE SENATE OF THE UNITED STATES June 9, 2022Received; read twice and referred to the Committee on Small Business and Entrepreneurship AN ACT To amend the Small Business Act to extend the statute of limitation for fraud by borrowers under the Paycheck Protection Program, and for other purposes. 1. Short title This Act may be cited as the PPP and Bank Fraud Enforcement Harmonization Act of 2022. 2. Fraud enforcement harmonization (a) Paycheck Protection Program Section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) is amended by adding at the end the following new subparagraph: (W) Fraud enforcement harmonization Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to a covered loan guaranteed under this paragraph shall be filed not later than 10 years after the offense was committed. . (b) Paycheck protection program second draw loans Section 7(a)(37) of the Small Business Act (15 U.S.C. 636(a)(37)) is amended by adding at the end the following new subparagraph: (P) Fraud enforcement harmonization Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to a covered loan guaranteed under this paragraph shall be filed not later than 10 years after the offense was committed. . Passed the House of Representatives June 8, 2022.Cheryl L. Johnson,Clerk.