H.R. 7412 creates a new Office of Whistleblower Awards within the Small Business Administration to incentivize reporting of COVID-19 business loan fraud. The bill allows whistleblowers who provide original information leading to successful prosecutions or settlements to receive financial awards of 10% of recovered funds for domestic cases or 15% for foreign cases. The legislation also imposes an additional 30% civil penalty on those convicted of COVID loan fraud, with proceeds funding the whistleblower awards program. The Small Business Administration must issue implementation rules within 6 months of enactment, with the program continuing until all related fraud cases are resolved.