SBIC Reporting Modernization Act of 2026
The source supplies the latest action, but no lifecycle stage.
Latest action (12 Nov 2026): Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
What this bill does
H.R. 10353, the SBIC Reporting Modernization Act of 2026, would require the Small Business Administration (SBA) to publish quarterly reports on its website about Small Business Investment Companies (SBICs). These reports would detail information such as the amount of SBA-guaranteed financing SBICs receive, the number of SBIC applicants approved, and the number of jobs created or sustained due to SBIC investments.
SBICs are privately owned companies licensed by the SBA that invest in small businesses. The bill would affect the SBA by requiring it to compile and post this new quarterly data. It would also affect the public and small businesses by making this information more readily available. The reports would include data similar to what is currently in the SBA's annual reports, such as the number of licensed SBICs and the government leverage they receive.
The bill was introduced in the House of Representatives in September 2026. It has since been received in the Senate, where it was read twice and referred to the Senate Committee on Small Business and Entrepreneurship. The bill's next step would be consideration by this Senate committee.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
SBIC Reporting Modernization Act of 2026
This bill requires the Small Business Administration (SBA) to report quarterly on its website specified information about Small Business Investment Companies (SBICs), such as the amount of SBA-guaranteed financing SBICs receive. SBICs are privately owned companies, licensed and regulated by the SBA, which invest in small businesses through debt and equity.
The quarterly report must include (1) elements of the SBA's annual report, such as the number of licensed SBICs and the amount of government leverage each has received; (2) the number of SBIC applicants approved; and (3) the number of jobs created or sustained as a result of SBIC investments. (In general, an SBIC may receive $2 of SBA-guaranteed financing for every $1 in private capital the SBIC raises, subject to a $150 million limit).
Timeline
12 Nov 2026
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Common questions
- What does H.R. 10353 do?
- H.R. 10353, the SBIC Reporting Modernization Act of 2026, would require the Small Business Administration (SBA) to publish quarterly reports on its website about Small Business Investment Companies (SBICs). These reports would detail information such as the amount of SBA-guaranteed financing SBICs receive, the number of SBIC applicants approved, and the number of jobs created or sustained due to SBIC investments. SBICs are privately owned companies licensed by the SBA that invest in small businesses. The bill would affect the SBA by requiring it to compile and post this new quarterly data. It would also affect the public and small businesses by making this information more readily available. The reports would include data similar to what is currently in the SBA's annual reports, such as the number of licensed SBICs and the government leverage they receive. The bill was introduced in the House of Representatives in September 2026. It has since been received in the Senate, where it was read twice and referred to the Senate Committee on Small Business and Entrepreneurship. The bill's next step would be consideration by this Senate committee.
- Has H.R. 10353 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 10353. Check the latest action and official source below.
- Who sponsored H.R. 10353?
- H.R. 10353 was sponsored by Rep. Finstad, Brad [R-MN-1] (R-MN), with 1 cosponsor.
- What's the latest action on H.R. 10353?
- Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. (12 Nov 2026).
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