Public Law 117–166: To amend the Small Business Act to extend the statute of limitation for fraud by borrowers under the Paycheck Protection Program, and for other purposes.

public-law-117-166Public Law 117-166Statute

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PUBLIC LAW 117–166—AUG. 5, 2022
136 STAT. 1365
Public Law
117–166
117th Congress
An Act
To amend the Small Business Act to extend the statute of limitation for fraud by borrowers under the Paycheck Protection Program, and for other purposes.

Aug. 5, 2022

[H.R. 7352]

  Be it enacted by the Senate and House of Representa­tives of the United States of America in Congress assembled,

PPP and Bank Fraud Enforcement Harmonization Act of 2022.
SECTION 1.

15 USC 631 note.

SHORT TITLE.

  This Act may be cited as the “
PPP and Bank Fraud Enforcement Harmonization Act of 2022
”.
SEC. 2.

Deadlines.

FRAUD ENFORCEMENT HARMONIZATION.

(a)

Paycheck Protection Program.—

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:
“(W)

Fraud enforcement harmonization.—

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)

Paycheck Protection Program Second Draw Loans.—

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:
“(P)

Fraud enforcement harmonization.—

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.”
.
Approved August 5, 2022.

LEGISLATIVE HISTORY—H.R. 7352:

HOUSE REPORTS: ┐No. 117–328 (Comm. on Small Business).

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.

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