Introduced (House) — PPP and Bank Fraud Enforcement Harmonization Act of 2022

Record facts

Summary

The introduced House text of H. R. 7352, the PPP and Bank Fraud Enforcement Harmonization Act of 2022, in the 117th Congress, 2d Session. Ms. Velázquez introduced the bill for herself and Mr. Luetkemeyer on March 31, 2022, and it was referred to the Committee on Small Business. Section 2 amends paragraph 7(a)(36) of the Small Business Act, covering Paycheck Protection Program loans, and Section 7(a)(37) of the Small Business Act (15 U.S.C. 636(a)(37)), covering second draw loans. Each amendment provides that any criminal charge or civil enforcement action alleging borrower fraud on a covered loan shall be filed not later than 10 years after the offense was committed.

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Full text

I 
117TH CONGRESS 
2D SESSION 
H. R. 7352 
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. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 31, 2022 
Ms. VELA´ZQUEZ (for herself and Mr. LUETKEMEYER) introduced the following 
bill; which was referred to the Committee on Small Business 
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. 
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled, 
2
SECTION 1. SHORT TITLE. 
3
This Act may be cited as the ‘‘PPP and Bank Fraud 
4
Enforcement Harmonization Act of 2022’’. 
5
SEC. 2. FRAUD ENFORCEMENT HARMONIZATION. 
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(a) PAYCHECK
PROTECTION
PROGRAM.—Section 
7
7(a)(36) of the Small Business Act (15 U.S.C. 
8
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2 
•HR 7352 IH
636(a)(36)) is amended by adding at the end the following 
1
new subparagraph: 
2
‘‘(W) FRAUD
ENFORCEMENT
HARMONI-
3
ZATION.—Notwithstanding any other provision 
4
of law, any criminal charge or civil enforcement 
5
action alleging that a borrower engaged in 
6
fraud with respect to a covered loan guaranteed 
7
under this paragraph shall be filed not later 
8
than 10 years after the offense was com-
9
mitted.’’. 
10
(b) PAYCHECK
PROTECTION
PROGRAM
SECOND 
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DRAW LOANS.—Section 7(a)(37) of the Small Business 
12
Act (15 U.S.C. 636(a)(37)) is amended by adding at the 
13
end the following new subparagraph: 
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‘‘(P) FRAUD
ENFORCEMENT
HARMONI-
15
ZATION.—Notwithstanding any other provision 
16
of law, any criminal charge or civil enforcement 
17
action alleging that a borrower engaged in 
18
fraud with respect to a covered loan guaranteed 
19
under this paragraph shall be filed not later 
20
than 10 years after the offense was com-
21
mitted.’’. 
22
Æ 
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