COVID Fraud Transparency Act of 2026 in plain language
1: Short title
This section would let the Act be called the "COVID Fraud Transparency Act of 2025."
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1. Short title This Act may be cited as the COVID Fraud Transparency Act of 2025 .
2: Report on fraud relating to certain COVID–19 loans
This section would require the Inspector General of the Small Business Administration to submit a report on fraud tied to covered loans (defined below) to the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship. The first report would be due no later than 60 days after this Act becomes law, and a new report would be due every 3 months after that. Each report would have to cover, for the period since the last report: the number and total dollar amount of all covered loans made; the number of new fraud cases and suspected fraud cases; the number of fraud cases resolved; and the types of fraud found in both the new cases and the resolved cases. A "covered loan" would mean either a loan made under paragraph (36) or (37) of section 7(a) of the Small Business Act, or a loan made under section 7(b) of that Act in response to COVID-19 during the covered period defined in section 1110(a) of the CARES Act. This reporting requirement, and the Act itself, would end on the date that is two years after this Act becomes law.
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2. Report on fraud relating to certain COVID–19 loans (a) In general Not later than 60 days after the date of the enactment of this Act, and every 3 months thereafter, the Inspector General of the Small Business Administration shall submit to the Committee on Small Business of the House of Representatives and the Committee on Small Business and Entrepreneurship of the Senate a report on the number of borrowers engaged in fraud with respect to a covered loan. (b) Elements The report required under subsection (a) shall include, with respect to the period covered by such report— (1) the number and total dollar amount of all covered loans made; (2) the number of new cases of fraud and suspected fraud; (3) the number of fraud cases resolved; and (4) the types of fraud cases described in paragraphs (2) and (3). (c) Covered loan defined In this section, the term covered loan means— (1) a loan made under paragraph (36) or (37) of section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ); or (2) a loan made under section 7(b) of such Act ( 15 U.S.C. 636(b) ) in response to COVID–19 during the covered period (as defined in section 1110(a) of the CARES Act ( 15 U.S.C. 9009 )). (d) Termination This Act and the requirements of this Act shall terminate on the date that is two years after the date of the enactment of this Act.
3: Compliance with CUTGO
This section states that no additional money would be authorized to be appropriated to carry out this Act.
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3. Compliance with CUTGO No additional amounts are authorized to be appropriated to carry out this Act.