504 Modernization and Small Manufacturer Enhancement Act of 2026
Latest action · Nov 12, 2026 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
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 HouseNov 11, 2026
- 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 economic development objectives that may be used to qualify for assistance under the program). The program provides a small business with SBA financing—through a certified development company intermediary—for expansion or modernization.
Specifically, the bill expands the public policy goals that allow an intermediary 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 an intermediary 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 intermediaries 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; 1 is an original cosponsor, there from 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 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Small Business Committee | Referred Sep 14, 2026Markup Sep 16, 2026Reported Oct 9, 2026 |
| Senate | Small Business and Entrepreneurship Committee | Referred Nov 12, 2026 |
Actions 12
Everything that happened, newest first.
- Nov 12, 2026Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Nov 11, 2026Mr. Williams (TX) moved to suspend the rules and pass the bill, as amended.
- Nov 11, 2026Considered under suspension of the rules.
- Nov 11, 2026DEBATE - The House proceeded with forty minutes of debate on H.R. 10375.
- Nov 11, 2026Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- Nov 11, 2026Motion to reconsider laid on the table Agreed to without objection.
- Oct 9, 2026Reported by the Committee on Small Business. H. Rept. 119-848.
- Oct 9, 2026Placed on the Union Calendar, Calendar No. 745.
- 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
- Sep 14, 2026Referred to the House Committee on Small Business.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 172, no. 144, September 14, 2026, page H5622.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
Titles 5
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Small Business Investment Act of 1958 to improve the loan guaranty program, enhance the ability of small manufacturers to access affordable capital, and for other purposes.
- Short Title(s) as Introduced
- 504 Modernization and Small Manufacturer Enhancement Act of 2026
- Short Title(s) as Reported to House
- 504 Modernization and Small Manufacturer Enhancement Act of 2026
- Short Title(s) as Passed House
- 504 Modernization and Small Manufacturer Enhancement Act of 2026
- Official Title from EH (Engrossed in House) bill text
- To amend the Small Business Investment Act of 1958 to improve the loan guaranty program, enhance the ability of small manufacturers to access affordable capital, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 3
Each version as it was printed, newest first.
- Nov 11, 2026Engrossed in House
- 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
