Complete COVID Collections Act
The Complete COVID Collections Act aims to reshape how the federal government handles repayment of COVID-19 relief loans and certain related grants. The core change is to prohibit suspending collections on SBA-related COVID-19 loans and to direct Treasury to actively pursue or resolve small-claims collections (under $100,000) tied to covered loans. The bill also expands and strengthens oversight and enforcement around COVID-era relief by extending the Special Inspector General for Pandemic Recovery’s (SIGPR) role and coordination with the Small Business Administration (SBA), adding fraud enforcement harmonization (extending look-back periods for fraud cases to 10 years for major COVID programs), increasing reporting requirements from the Department of Justice, and mandating real-time transparency of recovered funds. Definitions of what counts as a “covered loan,” “covered program,” and “covered funds” tie the bill to a broad set of COVID-relief programs, including SBA loan guarantees, EIDL, restaurant revitalization grants, and shuttered venue grants. In short, the bill shifts the federal approach from pausing collections to pursuing them, expands watchdog oversight across agencies, tightens fraud enforcement windows, and requires public reporting of recoveries, with the aim of recovering more COVID-era relief dollars and improving accountability for how those funds were used.
Key Points
- 1Prohibition on suspending collections for COVID-related SBA loans and Treasury role
- 2- The SBA Administrator must refer collection claims for covered loans under $100,000 to the Treasury, which will make the final decision on whether to suspend, end, or continue collection.
- 3- The bill requires ongoing monthly briefings to Congress and annual testimony by the SBA Administrator on collections, improper payments, and compliance with reporting requirements. A nondelegation clause prevents the Administrator from handing off these responsibilities to others.
- 4Expanded Special Inspector General for Pandemic Recovery (SIGPR)
- 5- The CARES Act’s Special Inspector General would be extended and empowered to coordinate with the SBA Administrator and oversee data sharing with the SBA’s Inspector General.
- 6- The SIGPR’s oversight period is extended to 2030, and ambiguity around how information is shared with lawmakers and the IGs is addressed to strengthen accountability.
- 7Fraud enforcement harmonization (time limits for pursuing fraud)
- 8- Adds a 10-year statute of limitations for criminal charges or civil enforcement actions alleging fraud related to COVID-era relief programs (emergency relief, shuttered venue grants, and restaurant revitalization grants).
- 9- This harmonization is designed to align enforcement timelines across major COVID relief programs and help deter and prosecute fraud more consistently.
- 10DOJ program fraud reporting and related oversight
- 11- The Attorney General must provide a monthly report to Congress on DOJ activities related to covered programs, including prosecutions, amounts recovered, referrals, and reasons for declined cases.
- 12- The reporting covers all covered programs and includes details on referrals from DOJ and other sources, as well as dispositions of those referrals.
- 13Recovery transparency and use of recovered funds
- 14- The Pandemic Response Accountability Committee (PRAC) must publish real-time data on funds recovered from covered programs, broken out by fund type and dollar amount, on its website.
- 15- Any recovered funds attributed to fraud collections are to be applied to reduce the federal debt.