PlainBillCongress, translated.Legislation. Context. Public interest.Placed on the Union Calendar, Calendar No. 745.
Congressional Research Service
Version 07 · Reported to House · Oct 9, 2026
504 Modernization and Small Manufacturer Enhancement Act of 2026This 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.
People & committees
Rep. Velázquez, Nydia M. [D-NY-7] · D–NY
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Placed on the Union Calendar, Calendar No. 745.
Reported by the Committee on Small Business. H. Rept. 119-848.
Reported by the Committee on Small Business. H. Rept. 119-848.
Ordered to be Reported by the Yeas and Nays: 23 - 0.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Small Business.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Nov 4, 2026. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze H.R.10375 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.10375 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.10375 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.10375 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.