H.R. 7352 — Reported in House

IB Union Calendar No. 246 117th CONGRESS 2d Session H. R. 7352 [Report No. 117–328] IN THE HOUSE OF REPRESENTATIVES March 31, 2022Ms. Velázquez (for herself and Mr. Luetkemeyer) introduced the following bill; which was referred to the Committee on Small Business May 17, 2022Additional sponsors: Mr. Mfume, Ms. Davids of Kansas, and Ms. Van Duyne May 17, 2022Reported 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 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. . May 17, 2022 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed