Enrolled (final) — PPP and Bank Fraud Enforcement Harmonization Act of 2022

Record facts

Summary

The enrolled text of H. R. 7352, the PPP and Bank Fraud Enforcement Harmonization Act of 2022, passed at the second session of the One Hundred Seventeenth Congress, with a record date of August 5, 2022. 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 a new subparagraph (W) to Section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) and a new subparagraph (P) to Section 7(a)(37) (15 U.S.C. 636(a)(37)), covering Paycheck Protection Program 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 enrolled bill carries signature lines for the Speaker of the House and the Vice President as President of the Senate.

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Full text

H. R. 7352 
One Hundred Seventeenth Congress 
of the 
United States of America 
AT THE SECOND SESSION 
Begun and held at the City of Washington on Monday, 
the third day of January, two thousand and twenty-two 
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 Representatives of 
the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘PPP and Bank Fraud Enforce-
ment Harmonization Act of 2022’’. 
SEC. 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.—Notwith-
standing 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.—Notwith-
standing 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.’’. 
Speaker of the House of Representatives. 
Vice President of the United States and
President of the Senate.

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