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119-hr-826119th CongressWALLET

COVID Fraud Transparency Act of 2026

Sponsored By: Representative Williams, Roger [R-TX-25]

Passed House

Summary

Creates a quarterly Inspector General reporting requirement that tracks fraud in Small Business Administration COVID-19 loan programs. The Small Business Administration Inspector General must file an initial report within 60 days and then every three months to the House and Senate Small Business committees listing the number and total dollar amount of covered loans, new and suspected fraud cases, fraud cases resolved, and the types of fraud. The law defines "covered loan" as certain loans made under section 7(a)(36) or 7(a)(37) or loans under section 7(b) made in response to COVID-19 during the CARES Act covered period, the reporting requirement ends two years after enactment, and no funds are authorized to carry out the law.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Quarterly reports on COVID SBA fraud

This bill would require the Small Business Administration’s Inspector General to report on COVID‑19 loan fraud. The first report would be due within 60 days of enactment. After that, reports would be filed every three months to the House and Senate Small Business committees. Each report would state the number and total dollar amount of covered loans, new and suspected fraud cases, resolved fraud cases, and the types of those cases. “Covered loans” would include SBA 7(a) loans under paragraphs (36) and (37) and SBA 7(b) disaster loans made for COVID‑19 during the CARES Act covered period.

Unfunded SBA fraud reports for two years

This bill would set a two‑year limit on the Act’s requirements. All duties under the Act would end two years after enactment. It would also bar authorizing any funds to carry out the Act during that period.

Sponsors & CoSponsors

Sponsor

Williams, Roger [R-TX-25]

TX • R

Cosponsors

  • Rep. Latimer, George [D-NY-16]

    NY • D

    Sponsored 1/28/2025

  • Rep. Bean, Aaron [R-FL-4]

    FL • R

    Sponsored 1/28/2025

  • Rep. Mfume, Kweisi [D-MD-7]

    MD • D

    Sponsored 1/28/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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