RECLAIM Taxpayer Funds Act

United States118th CongressHR-4667House of Representatives
Updated: Dec 4, 2023

Summary

Returning Erroneous COVID Loans Addressing Illegal and Misappropriated Taxpayer Funds Act or the RECLAIM Taxpayer Funds Act This bill requires the Small Business Administration (SBA) to issue guidance for borrowers and lenders about returning any unused Paycheck Protection Program (PPP) loan amounts made to the borrower. The SBA must track the amounts of PPP loans returned to mitigate the risk of financial loss. The guidance must be issued not later than 30 days after the bill is enacted.

Bill texts

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Timeline

  1. Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 11/28/2023 CR H5911)

  2. On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 11/28/2023 CR H5911)

    House of Representatives

  3. Motion to reconsider laid on the table Agreed to without objection.

    House of Representatives

  4. Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

    Senate