Bill · S. 68· Senate(119-S-68)
Complete COVID Collections Act
- Introduced
- 1/9/2025
- Last activity
- 2/10/2025 — Placed on Senate Legislative Calendar under General Orders. Calendar No. 8.
- Sponsored by
- Joni Ernst
- Cosponsors
- - 6 - 0
- Introduced
- On Calendar
What this bill would do
The Complete COVID Collections Act aims to prohibit the suspension of collections on certain small business loans related to COVID-19. It requires the Small Business Administration (SBA) Administrator to refer claims for covered loans under $100,000 to the Department of the Treasury. The bill extends the term of the Special Inspector General for Pandemic Recovery to September 30, 2030. It also establishes a 10-year statute of limitations for criminal charges or civil enforcement regarding fraud in several relief programs. Additionally, the Act mandates regular briefings, testimony, and reporting regarding the recovery of funds and fraud enforcement.
Yes
Does this make what the government does easier for the public to see?+7
The bill mandates real-time website updates on recovered funds and requires regular briefings and reports to Congress.
Does this make the government pay for what it commits to?+6
The bill enhances fiscal oversight by extending the term of the Special Inspector General for Pandemic Recovery and requiring more transparency in fund recovery.
Does this reduce what the federal government owes?+5
The bill mandates that all money collected from fraud in covered programs must be applied solely toward reducing the Federal debt.
The opposite
Does this make it easier to run a small business?-5
The bill requires the SBA to refer claims for covered loans under $100,000 to the Treasury for collection, removing previous suspensions on collections.
Would business owners be better off under this?-4
Small business owners may face more aggressive collection actions on loans under $100,000.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Oversight of Relief Funds: The bill extends the term of the Special Inspector General for Pandemic Recovery to September 30, 2030, which allows for continued monitoring of assistance provided under covered programs (Section 3).
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Standardized Fraud Prosecution Window: By establishing a 10-year limit for filing criminal charges or civil enforcement actions regarding fraud in programs like the CARES Act, Grants for Shuttered Venue Operators, and Restaurant Revitalization Grants, it creates a consistent timeline for legal actions (Section 4).
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Enhanced Transparency for Taxpayers: The bill requires the Pandemic Response Accountability Committee to maintain real-time data on a website showing how much money the Federal Government has recovered, broken down by fund type and amount (Section 7).
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Accountability for Loan Collections: The SBA Administrator is required to provide monthly briefings and annual testimony to Congress regarding the progress of collecting claims and the status of improper payments (Section 5).
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Debt Reduction: Any money collected from fraud involving covered programs will be used specifically to reduce the Federal debt (Section 8).
Potential Negative Impacts for People
-
Requirement for Debt Collection: The bill mandates that the SBA Administrator refer claims for covered loans under $100,000 to the Department of the Treasury for a final decision on whether to suspend, end, or make collection on the claim (Section 5).
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Strict Legal Deadlines: Criminal charges or civil enforcement actions related to fraud for specific relief programs must be filed within 10 years of the offense (Section 4).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+7
- Economy And Finance
- Improves Fiscal Responsibility+6Reduces National Debt+5Improves Small Business Support-5
- Demographic And Interest Groups
- Good For Business Owners-4
- 2/10/2025
- Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with amendments. Without written report.
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 8.
- 2/5/2025
- Committee on Small Business and Entrepreneurship. Ordered to be reported with amendments favorably.
- 1/21/2025
- 2 Cosponsors added.
- 1/9/2025
- Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 4 Cosponsors added.
- Introduced in Senate
Marsha BlackburnRepublican · Tennessee
John CurtisRepublican · Utah
Josh HawleyRepublican · Missouri
James LankfordRepublican · Oklahoma
Eric SchmittRepublican · Missouri
Todd YoungRepublican · Indiana