Bill > S68

This bill provides comprehensive oversight and enforcement measures for COVID-19 related small business loans and relief programs. Specifically, the bill extends the Special Inspector General's oversight authority until September 30, 2030, and requires the Small Business Administration (SBA) to refer claims for loans under $100,000 to the Department of the Treasury for final collection decisions. The bill also establishes new reporting requirements, including monthly briefings to congressional committees and an annual testimony from the SBA Administrator about loan collections, improper payments, and program compliance. Additionally, the bill extends the statute of limitations for fraud-related criminal charges or civil enforcement actions to 10 years for COVID-19 relief programs, mandates that the Department of Justice submit monthly reports on program fraud prosecutions, and requires the Pandemic Response Accountability Committee to maintain real-time public data on recovered funds. Notably, any funds recovered through fraud prosecution will be applied directly to reducing federal debt, emphasizing accountability and transparency in the distribution and management of pandemic-related financial assistance.

Business and Industry

https://www.congress.gov/bill/119th-congress/senate-bill/68/all-info