All Roll Calls
Yes: 421 • No: 0
117-hr-7352117th CongressWALLET
PPP and Bank Fraud Enforcement Harmonization Act of 2022
Sponsored By: Representative Velázquez, Nydia M. [D-NY-7]
Became Law
Summary
Creates a uniform 10-year statute of limitations for fraud enforcement on Paycheck Protection Program (PPP) loans. It applies to both initial PPP loans and second-draw PPP loans and sets a single 10-year deadline for criminal and civil charges alleging borrower fraud.
Show full summary
- Borrowers accused of PPP fraud face a single 10-year deadline for criminal or civil charges.
- Prosecutors and civil enforcement agencies get a clear, extended period to bring cases, reducing the chance that claims become stale.
- Small Business Administration lenders and guarantors get consistent enforcement timing for loans guaranteed under sections 7(a)(36) and 7(a)(37) of the Small Business Act.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
10-year window for PPP fraud cases
The law sets a 10-year deadline for PPP loan fraud cases. Criminal or civil cases can be filed up to 10 years after the alleged offense. This covers both first-draw and second-draw PPP loans. Cases filed after 10 years are barred. This rule applies even if other laws set shorter deadlines and is in effect now.
Sponsors & CoSponsors
Sponsor
Velázquez, Nydia M. [D-NY-7]
NY • D
Cosponsors
Rep. Luetkemeyer, Blaine [R-MO-3]
MO • R
Sponsored 3/31/2022
Rep. Mfume, Kweisi [D-MD-7]
MD • D
Sponsored 5/10/2022
Rep. Davids, Sharice [D-KS-3]
KS • D
Sponsored 5/10/2022
Rep. Van Duyne, Beth [R-TX-24]
TX • R
Sponsored 5/13/2022
Roll Call Votes
house vote • 6/8/2022
On Motion to Suspend the Rules and Pass
Yes: 421 • No: 0