Assisting Small Businesses Not Fraudsters Act

Hozzl · 2025-03-28T11:03:20Z

Explore the details of Senate Bill 1047 Assisting Small Businesses Not Fraudsters Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

3/28/2025, 11:03 AM

Summary of Bill S 1047

Bill 119 s 1047, also known as the "Prohibition of Government Fraudsters from Small Business Administration Assistance Act," aims to prevent individuals who have been convicted of defrauding the government from receiving any assistance from the Small Business Administration (SBA). The bill seeks to ensure that taxpayer funds are not used to support individuals who have engaged in fraudulent activities against the government.

If passed, this legislation would prohibit individuals who have been convicted of defrauding the government from receiving any loans, grants, or other forms of assistance from the SBA. This would help to protect the integrity of the SBA's programs and ensure that funds are directed towards legitimate small businesses in need of support.

In addition to prohibiting assistance to individuals convicted of government fraud, the bill also includes provisions for other purposes. While the specific details of these provisions are not outlined in the summary, it is clear that the primary focus of the bill is to prevent individuals with a history of defrauding the government from benefiting from SBA assistance. Overall, Bill 119 s 1047 is a targeted piece of legislation aimed at safeguarding taxpayer funds and ensuring that the SBA's resources are used to support honest and deserving small businesses. If passed, this bill would help to uphold the integrity of government assistance programs and protect against fraud and abuse.

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Current Status of Bill S 1047

Bill S 1047 is currently in the status of Bill Introduced since March 13, 2025. Bill S 1047 was introduced during Congress 119 and was introduced to the Senate on March 13, 2025. Bill S 1047's most recent activity was Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably. as of March 27, 2025

Bipartisan Support of Bill S 1047

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 1047

Primary Policy Focus

Commerce

Alternate Title(s) of Bill S 1047

A bill to prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.A bill to prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.

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