136 Stat. 1363 (Pub. L. 117-165, COVID-19 EIDL Fraud Statute of Limitations Act of 2022)
Summary
Public Law 117–165, the COVID–19 EIDL Fraud Statute of Limitations Act of 2022, an Act of the 117th Congress approved August 5, 2022 (H.R. 7334) and printed at 136 STAT. 1363. It adds paragraph (16) to section 7(b) of the Small Business Act: any criminal charge or civil enforcement action alleging that a borrower engaged in fraud on a loan made in response to COVID–19 during the covered period shall be filed not later than 10 years after the offense was committed. The same deadline is added for EIDL advances under section 1110(e) of the CARES Act (15 U.S.C. 9009(e)) and for targeted EIDL advances under section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. The legislative history lists House report No. 117–327 (Comm. on Small Business) and Senate passage on July 28.
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“136 Stat. 1363 (Pub. L. 117-165, COVID-19 EIDL Fraud Statute of Limitations Act of 2022).”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/136-stat-1363-pub-l-117-165-covid-19-eidl-fraud-statute-of-limitations-6625fc93a4/
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PUBLIC LAW 117–165—AUG. 5, 2022 136 STAT. 1363
Public Law 117–165
117th Congress
An Act
To extend the statute of limitations for fraud by borrowers under certain COVID–
Aug. 5, 2022
19 economic injury disaster loan programs of the Small Business Administration,
and for other purposes. [H.R. 7334]
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled, COVID–19 EIDL
Fraud Statute of
SECTION 1. SHORT TITLE. Limitations Act
of 2022.
This Act may be cited as the ‘‘COVID–19 EIDL Fraud Statute 15 USC 9001
of Limitations Act of 2022’’. note.
SEC. 2. EXTENSION OF STATUTE OF LIMITATIONS FOR CERTAIN Deadlines.
COVID–19 ECONOMIC INJURY DISASTER LOAN PROGRAMS.
(a) CERTAIN ECONOMIC INJURY DISASTER LOANS.—Section 7(b)
of the Small Business Act (15 U.S.C. 636(b)) is amended by inserting
after paragraph (15) the following new paragraph:
‘‘(16) STATUTE OF LIMITATIONS.—Notwithstanding any other
provision of law, any criminal charge or civil enforcement action
alleging that a borrower engaged in fraud with respect to
a loan made under this subsection in response to COVID–
19 during the covered period (as defined in section 1110(a)
of the CARES Act) shall be filed not later than 10 years
after the offense was committed.’’.
(b) EIDL ADVANCES.—Section 1110(e) of the CARES Act (15
U.S.C. 9009(e)) is amended by adding at the end the following
new paragraph:
‘‘(9) STATUTE OF LIMITATIONS.—Notwithstanding any other
provision of law, any criminal charge or civil enforcement action
alleging that a borrower engaged in fraud with respect to
the use of an advance received under this subsection shall
be filed not later than 10 years after the offense was com-
mitted.’’.
(c) TARGETED EIDL ADVANCES.—Section 331 of the Economic
Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act
(15 U.S.C. 9009b) is amended by adding at the end the following
new subsection:
‘‘(i) STATUTE OF LIMITATIONS.—Notwithstanding any other
provision of law, any criminal charge or civil enforcement action
alleging that a borrower engaged in fraud with respect to the
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136 STAT. 1364 PUBLIC LAW 117–165—AUG. 5, 2022
use of any amount received pursuant to this section shall be filed
not later than 10 years after the offense was committed.’’.
Approved August 5, 2022.
LEGISLATIVE HISTORY—H.R. 7334:
HOUSE REPORTS: No. 117–327 (Comm. on Small Business).
CONGRESSIONAL RECORD, Vol. 168 (2022):
June 7, 8, considered and passed House.
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July 28, considered and passed Senate.
DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2022):
Aug. 5, Presidential remarks.
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