Sec. 3. Rulemaking

293 words·~1 min read·/bill/119/hr/7412/ih/section-3

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Not later than six months after the date of the enactment of this Act, the Administrator of the Small Business Administration shall issue rules necessary to carry out the requirements of section 49 of the Small Business Act, as added by this Act. Not later than three months after the date of the enactment of this Act, the Administrator of the Small Business Administration shall issue rules providing that— after the head of the Office of Whistleblower Awards transmits original information to the Inspector General of the Small Business Administration under subsection (c)(1)(A)(ii)(I) of section 49 of the Small Business Act, as added by section 2, and tracks such information through a final conviction or settlement or plea agreement with respect to a COVID loan action, the head of the Office of Whistleblower Awards shall request that the Inspector General indicate, for each piece of such original information, that— such original information was the basis, in whole or in part, of such COVID loan action; such original information was not the basis, in whole or in part, of such COVID loan action; or whether such original information was the basis, in whole or in part, of such COVID loan action may not be disclosed; and if the Inspector General indicates that whether a piece of original information was the basis, in whole or in part, of a COVID loan action may not be disclosed, such original information shall be deemed to have not been the basis, in whole or in part, of such COVID loan action.

In this subsection, the terms COVID loan action , final conviction , and original information have the meanings given such terms in subsection

(k)of section 49 of the Small Business Act, as added by section 2.