Public Law 117-166. PPP and Bank Fraud Enforcement Harmonization Act of 2022

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An Act To amend the Small Business Act to extend the statute of limitation for fraud by borrowers under the Paycheck Protection Program, and for other purposes.Aug. 5, 2022[[H.R. 7352](/us/bill/117/hr/7352)] * Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* PPP and Bank Fraud Enforcement Harmonization Act of 2022. ## SECTION 1 SHORT TITLE [15 USC 631 note](/us/usc/t15/s631). This Act may be cited as the “PPP and Bank Fraud Enforcement Harmonization Act of 2022”. ## SEC. 2 FRAUD ENFORCEMENT HARMONIZATION Deadlines. ###

(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.

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