# Plain Language Summary of H.R. 4666

This bill requires the Small Business Administration's Inspector General—the official watchdog who investigates wrongdoing—to publish a detailed report every three months about fraud involving COVID-19 relief loans. Specifically, it focuses on two types of loans: the Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL) that were handed out during the pandemic to help struggling businesses.

Each quarterly report must include how many businesses committed fraud or are suspected of committing fraud, how many total loans were given out and for how much money, how many fraud cases were newly discovered, how many cases were resolved, and what types of fraud schemes people were attempting. This gives Congress and the public a clear, regular picture of how widespread the fraud problem actually is with these emergency relief programs. Since billions of dollars in COVID loans went out quickly during the pandemic, there's been significant concern about whether some people lied on their applications to get money they weren't entitled to.

The bill doesn't change any rules about the loans themselves or create new penalties for fraud—it simply requires transparency and regular reporting so lawmakers and taxpayers can see what's happening. The reporting requirement automatically expires two years after the bill becomes law, so it's meant to be a temporary measure to track the problem during a specific period. The bill also specifies that this reporting won't require any new government spending; the Inspector General will handle it using money already budgeted for their office.

To require the Inspector General of the Small Business Administration to submit a quarterly report on fraud relating to certain COVID-19 loans.

Bean, Aaron

 <p>This bill requires the Small Business Administration's Office of Inspector General to report quarterly about fraud cases involving certain COVID-19 loans (e.g., Paycheck Protection Program loans).</p>