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H.R. 7129, Put America on Commission Act of 2024 (CBO Report for Congress)

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Congress 118th
Date Requested Feb. 23, 2024
Requested By the House Committee on Small Business on
Date Sent June 12, 2024
Description:
H.R. 7129 would establish the Office of Whistleblower Awards within the Small Business Administration (SBA) to accept information from the public about financial misconduct related to certain COVID relief loan and grant programs and submit that information to the SBA’s Office of Inspector General (OIG). The bill also would direct the Treasury to establish a Whistleblower Award Fund for civil monetary penalties and other amounts collected when the information leads to a conviction, settlement, or plea agreement. The whistleblower would receive a portion of the amount recovered from information they submitted to the office, if certain conditions are met. For any conviction, settlement, or plea agreement for fraud related to loans or grants for COVID relief, H.R. 7129 would impose a new civil monetary penalty equal to 30 percent of the grant or principal amounts of the relevant loans.

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