504 Modernization and Small Manufacturer Enhancement Act of 2026
The source supplies the latest action, but no lifecycle stage.
Latest action (9 Oct 2026): Placed on the Union Calendar, Calendar No. 745.
What this bill does
This bill, H.R. 10375, aims to improve programs that help small businesses access capital and enhance their operations. It proposes changes to the Small Business Investment Act of 1958. Key provisions include adding workforce development and revitalizing disaster-affected areas as policy goals for loan programs, and allowing for some flexibility in loan closing procedures, such as correcting addresses or reallocating project costs within certain limits. It also introduces new rules for leasing parts of new facilities and existing buildings acquired with these loans.
The bill would primarily affect small manufacturers and businesses seeking loans through the Small Business Administration's development company program. For instance, small manufacturers could lease a larger portion of new facilities they build. Additionally, the bill seeks to streamline certain administrative aspects of the loan process, potentially benefiting businesses and lenders. The Small Business Administration would also be required to develop and implement a marketing and outreach plan for these loan programs.
H.R. 10375 was introduced in the House of Representatives and has been ordered reported by a vote of 23-0. This means the bill has passed through a committee and is now ready to be considered by the full House of Representatives for a vote. If passed by the House, it would then move to the Senate for consideration.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
9 Oct 2026
Placed on the Union Calendar, Calendar No. 745.
Common questions
- What does H.R. 10375 do?
- This bill, H.R. 10375, aims to improve programs that help small businesses access capital and enhance their operations. It proposes changes to the Small Business Investment Act of 1958. Key provisions include adding workforce development and revitalizing disaster-affected areas as policy goals for loan programs, and allowing for some flexibility in loan closing procedures, such as correcting addresses or reallocating project costs within certain limits. It also introduces new rules for leasing parts of new facilities and existing buildings acquired with these loans. The bill would primarily affect small manufacturers and businesses seeking loans through the Small Business Administration's development company program. For instance, small manufacturers could lease a larger portion of new facilities they build. Additionally, the bill seeks to streamline certain administrative aspects of the loan process, potentially benefiting businesses and lenders. The Small Business Administration would also be required to develop and implement a marketing and outreach plan for these loan programs. H.R. 10375 was introduced in the House of Representatives and has been ordered reported by a vote of 23-0. This means the bill has passed through a committee and is now ready to be considered by the full House of Representatives for a vote. If passed by the House, it would then move to the Senate for consideration.
- Has H.R. 10375 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 10375. Check the latest action and official source below.
- Who sponsored H.R. 10375?
- H.R. 10375 was sponsored by Rep. Velázquez, Nydia M. [D-NY-7] (D-NY), with 3 cosponsors.
- What's the latest action on H.R. 10375?
- Placed on the Union Calendar, Calendar No. 745. (9 Oct 2026).
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More bills from Rep. Velázquez, Nydia M. [D-NY-7]
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