A Bill — PPP and Bank Fraud Enforcement Harmonization Act of 2022 (117th Congress, 2d Session)
Summary
This bill text for the 117th Congress lists Ms. Velázquez, for herself and Mr. Luetkemeyer, as introducing the PPP and Bank Fraud Enforcement Harmonization Act of 2022. It would amend the Small Business Act to extend the statute of limitation for fraud by borrowers under the Paycheck Protection Program. Any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to a covered loan would have to be filed not later than 10 years after the offense was committed. The same provision would apply to Paycheck Protection Program second draw loans under section 7(a)(37) of the Small Business Act.
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Cite this document
“A Bill — PPP and Bank Fraud Enforcement Harmonization Act of 2022 (117th Congress, 2d Session).”
Original at democrats-smallbusiness.house.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/4238-2022-04-01-chairwoman-vel-zquez-ranking-member-luetkemeyer-in-att-fd91f640fe/
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(Original Signature of Member)
H. R. ll
117TH CONGRESS
2D SESSION
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
Ms. VELÁZQUEZ (for herself and Mr. LUETKEMEYER) introduced the following
bill; which was referred to the Committee on
lllllllllllllll
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.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE.
4 This Act may be cited as the ‘‘PPP and Bank Fraud
5 Enforcement Harmonization Act of 2022’’.
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1 SEC. 2. FRAUD ENFORCEMENT HARMONIZATION.
2 (a) PAYCHECK PROTECTION PROGRAM.—Section
3 7(a)(36) of the Small Business Act (15 U.S.C.
4 636(a)(36)) is amended by adding at the end the following
5 new subparagraph:
6 ‘‘(W) FRAUD ENFORCEMENT HARMONI-
7 ZATION.—Notwithstanding any other provision
8 of law, any criminal charge or civil enforcement
9 action alleging that a borrower engaged in
10 fraud with respect to a covered loan guaranteed
11 under this paragraph shall be filed not later
12 than 10 years after the offense was com-
13 mitted.’’.
14 (b) PAYCHECK PROTECTION PROGRAM SECOND
15 DRAW LOANS.—Section 7(a)(37) of the Small Business
16 Act (15 U.S.C. 636(a)(37)) is amended by adding at the
17 end the following new subparagraph:
18 ‘‘(P) FRAUD ENFORCEMENT HARMONI-
19 ZATION.—Notwithstanding any other provision
20 of law, any criminal charge or civil enforcement
21 action alleging that a borrower engaged in
22 fraud with respect to a covered loan guaranteed
23 under this paragraph shall be filed not later
24 than 10 years after the offense was com-
25 mitted.’’.
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