504 Modernization and Small Manufacturer Enhancement Act of 2026
Latest action · Oct 9, 2026 Placed on the Union Calendar, Calendar No. 745.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 14, 2026
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
504 Modernization and Small Manufacturer Enhancement Act of 2026
This bill generally expands the Small Business Administration (SBA) 504 Loan Program to include additional objectives and flexibilities (e.g., new qualifying economic development objectives). The program provides a small business with SBA financing—through a certified development company (CDC) intermediary—for expansion or modernization.
Specifically, the bill expands the public policy goals that allow a CDC to qualify for assistance to include additional objectives. These include (1) workforce development through work-based or work-integrated training, and (2) aiding the revitalization of an area for which a disaster has been declared or determined.
The bill also authorizes a CDC to take specified actions to facilitate the closing of 504 loans, such as correcting borrower or lender information on loan documents or reallocating up to 10% of the cost of a project.
Further, the bill allows small businesses to lease a larger portion of renovated buildings that are financed with 504 loans to other tenants in certain circumstances. In the case of a project to renovate or reconstruct an existing building, a small business may lease a maximum of 66% of the building to commercial or residential tenants if certain conditions are met. For example, the small business must have occupied the building for 12 consecutive months prior to the project.
Additionally, the bill exempts CDCs from the requirement to demonstrate they are unable to obtain credit elsewhere to receive 504 loans.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Sep 14, 2026 to Sep 16, 2026, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TX | Roger Williams | Original | Sep 14, 2026 |
| D-CA | Derek Tran | Sep 16, 2026 | |
| D-CA | Gilbert Ray Cisneros, Jr. | Sep 16, 2026 |
Actions 6
Everything that happened, newest first.
- Oct 9, 2026Placed on the Union Calendar, Calendar No. 745.
- Oct 9, 2026Reported by the Committee on Small Business. H. Rept. 119-848.
- Sep 16, 2026Committee Consideration and Mark-up Session Held
- Sep 16, 2026Ordered to be Reported by the Yeas and Nays: 23 - 0.
- Sep 14, 2026Introduced in House
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 2
Each version as it was printed, newest first.
- Oct 9, 2026Reported in House
- Sep 14, 2026Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.