Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, <<NOTE: PPP and Bank Fraud Enforcement Harmonization Act of 2022.>>
This Act may be cited as the ``PPP and Bank Fraud Enforcement Harmonization Act of 2022''.
(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.
<all>