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119-s-68119th CongressWALLET

Complete COVID Collections Act

Sponsored By: Senator Ernst, Joni [R-IA]

In Committee

Summary

Would prevent suspension of collections on small COVID-19 loans and boost fraud enforcement and transparency. This bill would set rules so covered pandemic relief loans and grants face more consistent collection, reporting, and prosecution standards while increasing public recoveries data.

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  • Small businesses and borrowers: Claims on covered COVID-19 loans under $100,000 must be referred to the Department of the Treasury for final collection decisions, and the Small Business Administration Administrator cannot delegate that referral duty.
  • Prosecutors and grant programs: The statute of limitations for criminal or civil fraud actions tied to CARES Act loans, Restaurant Revitalization Grants, and shuttered venue grants would be harmonized to 10 years.
  • Oversight bodies and taxpayers: The Attorney General must provide monthly DOJ program fraud reports to Congress with prosecutions, recoveries, referrals, and declinations. The Pandemic Response Accountability Committee must post real-time recoveries by fund type within 60 days. Fraud-related recoveries must be applied to reduce the Federal debt, and Special Inspector General pandemic authorities are extended and coordinated with the SBA Inspector General through Sept. 30, 2030.

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Bill Overview

Analyzed Economic Effects

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

Longer window for COVID fraud cases

If enacted, the bill would let prosecutors and civil enforcers file fraud cases up to 10 years after the offense. The 10-year window would cover certain CARES Act loans and investments, shuttered venue operator grants, and Restaurant Revitalization Grants. This would give agencies more time to bring criminal charges or civil enforcement actions.

More fraud reporting and recoveries transparency

If enacted, the bill would require the Attorney General to send Congress a detailed DOJ fraud report within 90 days and then monthly. It would require the Pandemic Response Accountability Committee to post real-time data on recovered COVID-19 funds within 60 days. It would require that money recovered from fraud in covered programs be applied only to reduce the Federal debt.

New SBA collection rules and oversight

If enacted, the bill would define which COVID-19 loans, grants, and programs are "covered" for its rules. It would require the SBA to send any covered-loan claim under $100,000 to the Department of the Treasury for a final decision. The SBA Administrator would have to brief Congress within 30 days and every 30 days after. The SBA Administrator would also have to testify annually before the House and Senate small business committees and could not delegate that duty. The Special Inspector General for Pandemic Recovery would get SBA data and have its authority extended to September 30, 2030.

Sponsors & CoSponsors

Sponsor

Ernst, Joni [R-IA]

IA • R

Cosponsors

  • Sen. Young, Todd [R-IN]

    IN • R

    Sponsored 1/9/2025

  • Sen. Blackburn, Marsha [R-TN]

    TN • R

    Sponsored 1/9/2025

  • Sen. Lankford, James [R-OK]

    OK • R

    Sponsored 1/9/2025

  • Sen. Curtis, John R. [R-UT]

    UT • R

    Sponsored 1/9/2025

  • Sen. Schmitt, Eric [R-MO]

    MO • R

    Sponsored 1/21/2025

  • Sen. Hawley, Josh [R-MO]

    MO • R

    Sponsored 1/21/2025

Roll Call Votes

No roll call votes available for this bill.

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