SBA Fraud Enforcement Extension Act

Progress

Timeline

• Mar 18Committee on Small Business and Entrepreneurship. Hearings held.

Summary

**SBA Fraud Enforcement Extension Act (S 1199)** This bill would extend the time limit for prosecuting fraud related to Small Business Administration (SBA) programs from the current 5 years to 10 years. **What it does:** Changes the statute of limitations (deadline for filing criminal charges) for SBA fraud cases, giving federal prosecutors more time to investigate and bring charges. **Who it affects:** - Individuals or businesses accused of defrauding SBA programs - Federal prosecutors handling these cases - SBA loan recipients and program participants **What would change:** Prosecutors would have twice as long to file criminal charges for SBA fraud. This could lead to more prosecutions of older cases that currently cannot be pursued due to time limits. The change would likely apply to various SBA programs including disaster loans, PPP loans, and other assistance programs. The bill is currently being reviewed in committee and has not yet been voted on by the full Senate.

How This Affects You