Washington, DC - Yesterday, the House passed six bipartisan small business bills to combat fraud in small business programs, increase opportunities for veteran entrepreneurs, improve transparency around Small Business Administration programs, and help facilitate small business contracting opportunities.
“America’s 33 million small businesses are the foundation of our nation’s economy and account for two-thirds of new jobs. Over the past few years, entrepreneurs have led our economic recovery by breaking records for new business formation and job creation,” said Congresswoman Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee. “It’s vital that Congress continues to build on this progress by providing small businesses with the resources they need to thrive. The bipartisan bills we passed today will help support veterans and small contractors while also safeguarding SBA programs from fraud and abuse.”
H.R. 4666, “A bill to require the SBA OIG to submit quarterly reports on PPP/EIDL fraud”
Introduced by Rep. Aaron Bean (R-FL) and Rep. Kweisi Mfume (D-MD)
This bill would require the Inspector General of the SBA to issue a report every 3 months to Congress on the number of borrowers engaged in fraud with the PPP and EIDL loan programs.
H.R. 4667, “The RECLAIM Taxpayer Funds Act”
Introduced by Rep. Maria Salazar (R-FL) and Rep. Morgan McGarvey (D-KY)
This bill requires the Administrator of SBA to issue guidance and rules for lenders and the Small Business Administration on handling amounts of PPP Loans returned by borrowers. The Committee staff consulted the agency and industry stakeholders to ensure the underlying policy and its implementation were sound.
H.R. 4668, “The Providing Opportunities to Show Transparency via Information Technology Act of 2023 or POST-IT Act”
Introduced by Rep. Marc Molinaro (R-NY) and Rep. Hillary Scholten (D-MI)
This bill amends the Small Business Act to require the Small Business and Agriculture Regulatory Enforcement Ombudsman to electronically publish guidance documents for rules that have a “significant economic impact on a substantial number of small entities.”
H.R. 4670, “The Small Business Contracting Transparency Act”
Introduced by Rep. Chrissy Houlahan (D-PA) and Rep. Stauber (R-MN)
H.R. 4670 would require SBA to provide information to Congress on the implementation of recent changes to certain contracting certification and eligibility programs. The required report will include information on contracting dollars and methods, the number of applications, certifications and decertifications, and the amount of program examinations being conducted.
H.R. 5427, “To prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.”
Introduced by Chairman Roger Williams (R-TX), Rep. Kweisi Mfume (D-MD), and Rep. Aaron Bean (R-FL).
The legislation would prohibit anyone convicted of any crimes relating to financial misconduct or making a false statement with respect to an SBA pandemic loan or grant from receiving non-disaster financial assistance from the SBA.
H.R. 4480, “The Successful Entrepreneurship for Reservists and Veterans Act, or SERV Act”
Introduced by Rep. Sharice Davids (D-KS) and Rep. Mark Alford (R-MO)
This bill requires: the Small Business Administration to report on the Veteran’s Interagency Task Force; and the Government Accountability Office to report on access to credit for small businesses owned and controlled by veterans, Reservists, or their spouses.
