COVID Fraud Act of 2026 (H.R. 826)

Summary

Makes the Inspector General of the Small Business Administration send a report every three months about fraud related to COVID-19 loans.

What problem does this solve?

There is not enough clear and regular information available to the public and Congress about fraud in the COVID-19 small business loan programs. This act makes the Small Business Administration's watchdog provide a detailed report on this fraud to Congress every three months for two years.

What does this bill do?

Requires quarterly fraud reports

The Inspector General of the Small Business Administration must give a report to Congress every three months about fraud in COVID-19 loan programs.

Details specific information for reports

Reports must include the total number and value of loans, the number of new and resolved fraud cases, and the different types of fraud found.

Sets a two-year time limit

The requirement to produce these fraud reports automatically ends two years after the act becomes law.

Provides no new funding

States that no new government funds are approved to pay for the work required by this act.

Who does this affect?

Small Business Administration
Congress
Small business loan recipients

What is the real world impact?

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Increases government accountability

Forces the Small Business Administration to be open about the amount of fraud in its COVID-19 loan programs, making it easier for Congress and the public to see how taxpayer money was used and misused.

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Provides only temporary oversight

The reporting requirement only lasts for two years. This means long-term tracking of fraud and recovery efforts might not be covered after the law expires.

When does this start?

The first report is due 60 days after the bill becomes law, with more reports every three months, and the law itself stops working after two years.

First fraud report due

The first report must be submitted to Congress no later than 60 days after the act is signed into law.

Ongoing quarterly reports

After the first report, new reports are required every three months.

Termination of reporting requirement

All requirements of this act will end two years after the date it becomes law.