Pub. L. 117-166 - PPP and Bank Fraud Enforcement Harmonization Act of 2022

117th Congress

Affects: 15 U.S.C. §§ 636

SECTION 1. SHORT TITLE.

This Act may be cited as the “PPP and Bank Fraud Enforcement Harmonization Act of 2022”.

SEC. 2. FRAUD ENFORCEMENT HARMONIZATION.

(a) Section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) is amended by adding at the end the following new subparagraph:

(a)“(W) Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to a covered loan guaranteed under this paragraph shall be filed not later than 10 years after the offense was committed.”

(a) .

(b) Section 7(a)(37) of the Small Business Act (15 U.S.C. 636(a)(37)) is amended by adding at the end the following new subparagraph:

(b)“(P) Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to a covered loan guaranteed under this paragraph shall be filed not later than 10 years after the offense was committed.”

(b) .

Legislative History

LEGISLATIVE HISTORY—H.R. 7352:

CONGRESSIONAL RECORD, Vol. 168 (2022):

June 7, 8, considered and passed House.

July 28, considered and passed Senate.

DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2022):

Aug. 5, Presidential remarks.