S.226: A bill to direct the Inspector General of the Department of Justice to submit semi-annual reports regarding settlements relating to false claims and fraud against the Federal Government.

Amends the Inspector General Act to require the Inspector General (IG) of the Department of Justice (DOJ), in preparing semiannual reports on the activities of the IG's office, to describe each settlement or compromise of any claim, suit, or other action entered into with the DOJ that: (1) relates to an alleged violation of statutory provisions prohibiting major fraud or false claims against the United States (including all settlements of alternative remedies); and (2) results from a claim of damages in excess of $100,000.

Specifies the required elements of each such description.