Bill > HR826

This bill, titled the "COVID Fraud Transparency Act of 2025", requires the Inspector General of the Small Business Administration (SBA) to submit quarterly reports to the House and Senate Small Business Committees regarding fraud related to specific COVID-19 loans. These reports, which must begin within 60 days of the Act's enactment, will detail the number and total dollar amount of "covered loans" (which include specific Paycheck Protection Program (PPP) loans and SBA disaster loans made in response to COVID-19), the number of new fraud and suspected fraud cases, the number of resolved fraud cases, and the types of fraud identified. The term "covered loans" specifically refers to loans made under certain provisions of the Small Business Act during the COVID-19 pandemic. The reporting requirement will remain in effect for two years from the date of enactment, and the bill includes a provision stating that no additional funds are authorized to be appropriated to implement these reporting requirements. The primary goal of this legislation is to increase transparency and oversight of pandemic-era small business loan programs by regularly documenting potential fraudulent activities.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/826/all-info