To prohibit the suspension of collections on loans made to small businesses related to COVID–19, and for other purposes.
Sponsors
Legislative Progress
ReportedReported by Ms. Ernst, with amendments
Ms. Ernst (for herself, Mr. Young, Mrs. Blackburn, Mr. Lankford, …
Ms. Ernst (for herself, Mr. Young, Mrs. Blackburn, Mr. Lankford, …
Summary
What This Bill Does
The Complete COVID Collections Act prevents the Small Business Administration (SBA) from suspending debt collection efforts on COVID-19 relief loans issued to small businesses. It aims to recover taxpayer money from loans that were improperly paid or fraudulently obtained during the pandemic, while extending the time prosecutors have to pursue fraud cases.
Who Benefits and How
Federal Government and Taxpayers benefit by recovering potentially billions in COVID relief funds. The bill mandates active debt collection on COVID-era SBA loans, requires monthly transparency reports on fraud prosecutions and recovered funds, and extends the Special Inspector General for Pandemic Recovery through September 2030 to maintain oversight.
Who Bears the Burden and How
Small Business Administration faces significant new administrative burdens: mandatory monthly briefings to Congress on collection progress, annual testimony requirements on loan collections and improper payments, and coordination obligations with the Special Inspector General. The SBA Administrator cannot delegate these responsibilities.
Small businesses with outstanding COVID loans face resumed collection efforts. Loans under $100,000 must be referred to the Treasury Department for collection decisions, rather than allowing the SBA to suspend collections.
Key Provisions
- Prohibits the SBA from suspending collections on COVID-related loans (PPP, EIDL, and other pandemic programs)
- Extends the statute of limitations for fraud charges to 10 years for COVID relief programs including PPP loans, shuttered venue grants, and restaurant revitalization grants
- Extends the Special Inspector General for Pandemic Recovery until September 30, 2030 (from the original 5-year term)
- Requires the Attorney General to submit monthly reports to Congress on COVID fraud prosecutions, including prosecution numbers, dollars recovered, and declined cases
- Mandates real-time public transparency on the Pandemic Response Accountability Committee website showing recovered COVID funds by program type
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Prohibits the suspension of collections on loans made to small businesses related to COVID-19 and establishes reporting requirements for fraud enforcement.
Policy Domains
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_administrator"
- → Administrator of the Small Business Administration
Key Definitions
Terms defined in this bill
Defined in section 3351 of title 31, United States Code
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology