Referred to Senate committee — PPP and Bank Fraud Enforcement Harmonization Act of 2022

Record facts

Summary

The Senate print of H. R. 7352, the PPP and Bank Fraud Enforcement Harmonization Act of 2022, in the 117th Congress, 2d Session, received in the Senate on June 9, 2022, read twice and referred to the Committee on Small Business and Entrepreneurship. The act amends the Small Business Act to extend the statute of limitation for fraud by borrowers under the Paycheck Protection Program. Section 2 adds new subparagraphs to Section 7(a)(36) (15 U.S.C. 636(a)(36)) and Section 7(a)(37) (15 U.S.C. 636(a)(37)), for first-draw and second-draw loans. Each 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. The print records that the bill passed the House of Representatives June 8, 2022, attested by Clerk Cheryl L. Johnson.

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Full text

IIB 
117TH CONGRESS 
2D SESSION 
H. R. 7352 
IN THE SENATE OF THE UNITED STATES 
JUNE 9, 2022 
Received; 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. 
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled, 
2
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2 
HR 7352 RFS
SECTION 1. SHORT TITLE. 
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This Act may be cited as the ‘‘PPP and Bank Fraud 
2
Enforcement Harmonization Act of 2022’’. 
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SEC. 2. FRAUD ENFORCEMENT HARMONIZATION. 
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(a) PAYCHECK
PROTECTION
PROGRAM.—Section 
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7(a)(36) of the Small Business Act (15 U.S.C. 
6
636(a)(36)) is amended by adding at the end the following 
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new subparagraph: 
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‘‘(W) FRAUD
ENFORCEMENT
HARMONI-
9
ZATION.—Notwithstanding any other provision 
10
of law, any criminal charge or civil enforcement 
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action alleging that a borrower engaged in 
12
fraud with respect to a covered loan guaranteed 
13
under this paragraph shall be filed not later 
14
than 10 years after the offense was com-
15
mitted.’’. 
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(b) PAYCHECK
PROTECTION
PROGRAM
SECOND 
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DRAW LOANS.—Section 7(a)(37) of the Small Business 
18
Act (15 U.S.C. 636(a)(37)) is amended by adding at the 
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end the following new subparagraph: 
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‘‘(P) FRAUD
ENFORCEMENT
HARMONI-
21
ZATION.—Notwithstanding any other provision 
22
of law, any criminal charge or civil enforcement 
23
action alleging that a borrower engaged in 
24
fraud with respect to a covered loan guaranteed 
25
under this paragraph shall be filed not later 
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3 
HR 7352 RFS
than 10 years after the offense was com-
1
mitted.’’. 
2
Passed the House of Representatives June 8, 2022. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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