H.R. 4666 — Introduced in House

I 118th CONGRESS 1st Session H. R. 4666 IN THE HOUSE OF REPRESENTATIVES July 17, 2023Mr. Bean of Florida (for himself 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. 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 paragraphs (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. 2. Compliance with CUTGO No additional amounts are authorized to be appropriated to carry out this Act. Such Act shall be carried out using amounts otherwise appropriated to the Administrator of the Small Business Administration or the Inspector General of the Small Business Administration.