A bill to recover unclaimed pandemic-era unemployment compensation funds held by financial institutions or escheated to State unclaimed property administrators, and for other purposes.
About This Bill
Committee
Latest Action · August 5, 2026
Read twice and referred to the Committee on Finance.
This bill establishes a task force to recover pandemic-era unemployment benefits that were fraudulently obtained or improperly issued and are currently held by banks or state unclaimed property administrators. The task force, led by a National Recovery Coordinator designated by the Secretary of Labor, will coordinate across federal agencies and state governments to develop standardized processes for identifying improper payments on prepaid debit cards and returning those funds. The bill requires the task force to issue guidance to financial institutions and state agencies on legal pathways for recovering fraudulent funds, establish best practices for determining what constitutes cost-effective recovery, and provide information to fraud victims about available resources. Additionally, the bill extends the statute of limitations for criminal and civil fraud cases related to pandemic unemployment programs from the standard timeframe to ten years after the violation occurs, allowing prosecutors more time to pursue fraud cases. The federal government will reimburse states for administrative costs associated with participating in the recovery coordination efforts.
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