Federal HB8030 amends the Defense Production Act of 1950 to limit eligibility for assistance, increase monetary penalties, and establish fraud risk.
Federal HB8030 amends the Defense Production Act of 1950 to limit eligibility for assistance, increase monetary penalties, and establish fraud risk management processes. The bill raises the maximum monetary penalty from $10,000 to $100,000 for violations. It also mandates the establishment of fraud risk management processes, including training personnel and designating a point of contact to manage fraud-related issues. The bill defines "covered entity" and "covered individual" to clarify eligibility for assistance.
The filed bill text is too short for analysis.