Bill > HR7412

This bill, titled the "Put America on Commission Act of 2026," amends the Small Business Act to establish an Office of Whistleblower Awards within the Small Business Administration (SBA). This new office will be responsible for receiving original information from whistleblowers regarding financial misconduct or fraudulent misrepresentation by recipients of SBA financial assistance, particularly concerning COVID-19 relief loans (referred to as "COVID loan actions"). If this information leads to a final conviction or a settlement or plea agreement related to a COVID loan action, the whistleblower can receive an award of 10% to 15% of the recovered amounts, depending on the nationality of the offender. The bill also outlines procedures for determining the most substantial contributor among multiple whistleblowers, allows for award reductions or denials if the whistleblower initiated the misconduct, and prohibits retaliation against whistleblowers. A dedicated "Whistleblower Award Fund" will be established to pay these awards and cover the office's operational expenses, with penalties collected from COVID loan action violations being deposited into this fund. The bill also includes provisions for appeals, reporting requirements to Congress, and a sunset clause for the program's authority.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/7412/all-info