Bill > S1199

This bill extends the statute of limitations to 10 years for criminal prosecutions and civil enforcement actions related to fraud in several pandemic-era Small Business Administration (SBA) assistance programs. Specifically, the bill covers fraud in the Shuttered Venue Operators Grant, Restaurant Revitalization Fund, Economic Injury Disaster Loans (EIDL), and Paycheck Protection Program (PPP) - including both initial and second-draw PPP loans. The extended statute of limitations applies to a range of federal criminal code sections involving fraud, conspiracy, false statements, and financial crimes. This means that federal prosecutors and enforcement agencies will have 10 years from the date of a fraudulent act to file charges or take legal action, compared to shorter previous time limits. The bill is designed to provide more time for investigating and prosecuting potential fraud in COVID-19 emergency business support programs, which were quickly rolled out during the pandemic and may have been vulnerable to fraudulent activities.

Business and Industry

https://www.congress.gov/bill/119th-congress/senate-bill/1199/all-info