S. 1199: SBA Fraud Enforcement Extension Act

This bill, titled the SBA Fraud Enforcement Extension Act, proposes to extend the time period during which legal actions can be brought for fraud related to certain pandemic-related financial assistance programs for specific industries. Here's a breakdown of what it entails:

Key Provisions

• Extension of the Statute of Limitations: The bill extends the statute of limitations for criminal prosecutions and civil enforcement actions related to fraud in two specific programs:
• Shuttered Venue Operators Grant Program: For fraud related to grants received under this program, the statute of limitations would be extended to 10 years from the date of the violation or conspiracy.
• Restaurant Revitalization Fund: Similarly, for fraud involving grants from this fund, the statute of limitations would also be extended to 10 years from the date of the violation or conspiracy.
• Relevant Legal Violations: The bill covers a range of federal laws and sections under Titles 18 and 31 of the United States Code, which include various types of fraud, conspiracy to defraud, and money laundering.

Impact on Fraud Investigations

By extending the period for legal actions, the bill aims to allow more time for government agencies to investigate potential fraud and pursue enforcement actions related to these pandemic relief programs. This change is expected to enhance accountability and ensure that fraud is addressed effectively.

Overall Effect

The overall aim of the bill is to provide a longer timeframe to handle legal cases related to fraud against the specific federal programs designed to support businesses affected by the COVID-19 pandemic.

Relevant Companies

• None found