Requires a federal task force to help recover pandemic unemployment payments that remain in banks or with state unclaimed property offices, and extends the time allowed to bring fraud cases over those payments to 10 years.

• Directs the Secretary of Labor to designate a National Recovery Coordinator, who convenes a task force within 30 days of enactment to identify and recover improper pandemic unemployment payments held on prepaid debit cards by financial institutions or transferred to state unclaimed property administrators.
• Requires the task force to issue guidance on cost-effective recovery thresholds, a legal pathway for banks to return funds to states, a model notice for fraud victims, and standardized procedures for returning funds to the federal government.
• Reimburses states for administrative costs incurred in coordinating with the task force.
• Sets a 10-year deadline for criminal prosecutions and civil enforcement actions over fraud in pandemic unemployment assistance, Federal Pandemic Unemployment Compensation, Mixed Earner Unemployment Compensation, and Pandemic Emergency Unemployment Compensation claims, for violations occurring on or after enactment.

• Ways and Means Committee (House)
• Finance Committee (Senate)

Finance and Financial Sector