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This bill would require the Small Business Administration’s Inspector General to regularly report on fraud tied to certain COVID-era loans. Starting within 60 days after the law takes effect, and every three months after that, the Inspector General would have to send Congress a report showing how much money was lent, how many fraud or suspected fraud cases were found, how many were resolved, and what kinds of fraud were involved. The reporting requirement would last for two years.
- The reports would go to the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship.
- The bill covers certain SBA loans made under the small business loan program and loans made in response to COVID-19 during the CARES Act covered period.
- Each report must include the number and total dollar amount of covered loans made, plus the number of new fraud and suspected fraud cases and the number of cases resolved.
- The bill does not provide new funding to carry out these requirements.
Official Summaries
COVID Fraud Transparency Act of 2025
This bill requires the Small Business Administration's Office of Inspector General to report quarterly about fraud cases involving certain COVID-19 loans (e.g., Paycheck Protection Program loans).
COVID Fraud Transparency Act of 2026
This bill requires the Small Business Administration's Office of Inspector General to report quarterly to Congress about fraud cases involving certain COVID-19 loans (e.g., Paycheck Protection Program loans).
The report must include the
- number and total dollar amount of such loans,
- number of new cases of fraud and suspected fraud,
- number of fraud cases resolved, and
- types of such cases of fraud.
The reporting requirements terminate two years after this bill is enacted.
COVID Fraud Transparency Act of 2026
This bill requires the Small Business Administration's Office of Inspector General to report quarterly to Congress about fraud cases involving certain COVID-19 loans (e.g., Paycheck Protection Program loans).
The report must include the
- number and total dollar amount of such loans,
- number of new cases of fraud and suspected fraud,
- number of fraud cases resolved, and
- types of such cases of fraud.
The reporting requirements terminate two years after this bill is enacted.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 826 Engrossed in House (EH)]
<DOC>
119th CONGRESS
2d Session
H. R. 826
_______________________________________________________________________
AN ACT
To require the Inspector General of the Small Business Administration
to submit a quarterly report on fraud relating to certain COVID-19
loans.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``COVID Fraud Transparency Act of
2026''.
SEC. 2. REPORT ON FRAUD RELATING TO CERTAIN COVID-19 LOANS.
(a) In General.--Not later than 60 days after the date of the
enactment of this Act, and every 3 months thereafter, the Inspector
General of the Small Business Administration shall submit to the
Committee on Small Business of the House of Representatives and the
Committee on Small Business and Entrepreneurship of the Senate a report
on the number of borrowers engaged in fraud with respect to a covered
loan.
(b) Elements.--The report required under subsection (a) shall
include, with respect to the period covered by such report--
(1) the number and total dollar amount of all covered loans
made;
(2) the number of new cases of fraud and suspected fraud;
(3) the number of fraud cases resolved; and
(4) the types of fraud cases described in paragraphs (2)
and (3).
(c) Covered Loan Defined.--In this section, the term ``covered
loan'' means--
(1) a loan made under paragraph (36) or (37) of section
7(a) of the Small Business Act (15 U.S.C. 636(a)); or
(2) a loan made under section 7(b) of such Act (15 U.S.C.
636(b)) in response to COVID-19 during the covered period (as
defined in section 1110(a) of the CARES Act (15 U.S.C. 9009)).
(d) Termination.--This Act and the requirements of this Act shall
terminate on the date that is two years after the date of the enactment
of this Act.
SEC. 3. COMPLIANCE WITH CUTGO.
No such funds are authorized to be appropriated to carry out this
Act.
Passed the House of Representatives June 23, 2026.
Attest:
Clerk.
119th CONGRESS
2d Session
H. R. 826
_______________________________________________________________________
AN ACT
To require the Inspector General of the Small Business Administration
to submit a quarterly report on fraud relating to certain COVID-19
loans.