H.R. 826 — Reported in House

IB Union Calendar No. 590 119th CONGRESS 2d Session H. R. 826 [Report No. 119–677] IN THE HOUSE OF REPRESENTATIVES January 28, 2025Mr. Williams of Texas (for himself, Mr. Latimer, Mr. Bean of Florida, and Mr. Mfume) introduced the following bill; which was referred to the Committee on Small Business June 3, 2026Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printedStrike out all after the enacting clause and insert the part printed in italicFor text of introduced bill, see copy of bill as introduced on January 28, 2025 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. Short title This Act may be cited as the COVID Fraud Transparency Act of 2026. 2. 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 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. 3. Compliance with CUTGO No additional amounts are authorized to carry out this Act. June 3, 2026Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed