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![handle is hein.congrecreports/crptxaiig0001 and id is 1 raw text is: AUTHENTICATED
U.S. GOVERNMENT
INFORMATION .
119TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 119-671
RECOVER COVID UNEMPLOYMENT FRAUD IN BANKS ACT
MAY 29, 2026.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Mr. SMITH of Missouri, from the Committee on Ways and Means,
submitted the following
REPORT
[To accompany H.R. 8873]
The Committee on Ways and Means, to whom was referred the
bill (H.R. 8873) to recover unclaimed pandemic-era unemployment
compensation funds held by financial institutions or escheated to
State unclaimed property administrators, and for other purposes,
having considered the same, reports favorably thereon with an
amendment and recommends that the bill as amended do pass.
CONTENTS
Page
I. SUMMARY AND BACKGROUND ............................................................... 4
A. Purpose and Sum m ary ..................................................................... 4
B. Background and Need for Legislation .................... 4
C. Legislative H istory ........................................................................... . 8
D . Designated H earing .......................................................................... 8
II. EXPLANATION OF THE BILL .................................................................. 8
A . Reasons for Change .......................................................................... 8
B. Explanation of Provisions ................................................................. 9
C . E ffective D ate .................................................................................... 10
III. VOTE OF THE COM M ITTEE ...................................................................... 10
IV. BUDGET EFFECTS OF THE BILL ........................................................... 10
A. Committee Estimate of Budgetary Effects .................. 10
B. Statement Regarding New Budget Authority and Tax Expendi-
tures Budget Authority ................................................................. 11
C. Cost Estimate Prepared by the Congressional Budget Office ....... 11
V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF
TH E H O U SE .............................................................................................. 11
A. Committee Oversight Findings and Recommendations ................ 11
B. Statement of General Performance Goals and Objectives ............ 11
C. Information Relating to Unfunded Mandates ................................ 11
D. Congressional Earmarks, Limited Tax Benefits, and Limited
Tariff B enefits ................................................................................ 11
E. Duplication of Federal Program s ..................................................... 12
VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED 12
69-006](ViewImageLocal?handle=hein.congrecreports/crptxaiig0001&div=1&collection=&method=preview&ext=.png&size=3)