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Federal Grants to States to Combat Financial Fraud Targeting Seniors

This law establishes a federal grant program to strengthen the efforts of state securities commissions and insurance departments. These funds may be used to hire staff, provide training, and acquire technology to more effectively detect and prosecute financial fraud targeting individuals aged 62 and older. The goal is to increase senior awareness and improve legal protection against financial exploitation.
Key points
Eligible state entities may receive up to $500,000 annually (or $1 million if combining functions) to combat financial fraud against seniors.
Funds may be used for investigations, prosecuting fraudsters, training law enforcement, and educating seniors, but not for indirect costs.
The bill authorizes $10 million annually for this purpose for fiscal years 2025 through 2030.
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Expired
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Additional Information
Print number: 118_HR_8478
Sponsor: Rep. Gottheimer, Josh [D-NJ-5]
Process start date: 2024-05-21
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OFFICIAL LEGAL TITLE

Empowering States to Protect Seniors from Bad Actors Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8478.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-21.

What are the main provisions?

Key points include:

  • Eligible state entities may receive up to $500,000 annually (or $1 million if combining functions) to combat financial fraud against seniors.
  • Funds may be used for investigations, prosecuting fraudsters, training law enforcement, and educating seniors, but not for indirect costs.
  • The bill authorizes $10 million annually for this purpose for fiscal years 2025 through 2030.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gottheimer, Josh [D-NJ-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Courts and Law Economy Security