Amends the Small Business Investment Act of 1958 to widen the purposes eligible for 504 development company loans, ease certain loan closing steps, change leasing limits on financed buildings, and require an SBA outreach plan for these loans.

Official title: 504 Modernization and Small Manufacturer Enhancement Act of 2026

Next stop House floor: awaiting a vote

Timeline each lane is a chamber; dates pull from congress.gov actions

House

Introduced 14-SEP-2026

Referred 14-SEP-2026

Approved by committee 16-SEP-2026

Reported 09-OCT-2026

On the calendar 09-OCT-2026

Key points

Adds workforce training, disaster-area revitalization, and expansion of firms with 10 or fewer employees to the program's policy goals.
Lets accredited lenders make limited closing corrections and reallocate up to 10 percent of a project's cost.
Lets small manufacturers occupy 50 percent of a new facility, instead of 60 percent, before leasing up to 20 percent to tenants.
Requires the SBA to develop and begin implementing a marketing and outreach plan for these loans within one year.

AI-generated from the Reported in House text of 09-OCT-2026 · verify · report an error

Official CRS summary

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Committee referrals (1)

Policy area

Commerce

Sponsor Nydia M. Velázquez (D-NY) Cosponsors · 3

■ 2 D■ 1 R

2 Democrats

1 Republican

congress.gov page Reported in House (09-OCT-2026) Introduced in House (14-SEP-2026)