HR10352Referred to Committee

504 Program Level Flexibility Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-09-14
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Lateefah Simon
Lateefah Simon
Democrat · CA · Representative
Votes with party: 96.9% (644 recorded votes)

Full profile: /officials/S001231

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Small Business.

2026-09-14

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

Plain-English summary pending. Introduced on 2026-09-14. Check back soon — summaries are generated as bills progress through Congress.

Subjects

Commerce

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10352 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10352 To amend the Small Business Investment Act of 1958 to allow the Administrator of the Small Business Administration the authority to increase amount of commitments to qualified State or local development companies, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 14, 2026 Ms. Simon (for herself and Mr. Alford) introduced the following bill; which was referred to the Committee on Small Business _______________________________________________________________________ A BILL To amend the Small Business Investment Act of 1958 to allow the Administrator of the Small Business Administration the authority to increase amount of commitments to qualified State or local development companies, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``504 Program Level Flexibility Act''. SEC. 2. AUTHORITY TO INCREASE AMOUNT OF COMMITMENTS TO QUALIFIED STATE OR LOCAL DEVELOPMENT COMPANIES. Section 503 of the Small Business Investment Act of 1958 (15 U.S.C. 697) is amended by adding at the end the following new subsection: ``(j) Authority To Increase Amount of Commitments to Qualified State or Local Development Companies.-- ``(1) In general.--Subject to paragraphs (2) and (3) and with respect to fiscal year 2027 and each fiscal year thereafter, if the Administrator determines that the amount of commitments by the Administrator to guarantee loans authorized under this section for a fiscal year could exceed the limit on the total amount of commitments the Administrator may make for those loans under this Act, an appropriations Act, or any other provision of law, the Administrator may make commitments for those loans for that fiscal year in an aggregate amount equal to not more than 115 percent of that limit. ``(2) Notice required before exercising authority.--Not later than 30 days before the date on which the Administrator intends to exercise the authority under paragraph (1), the Administrator shall submit notice of intent to exercise the authority to-- ``(A) the Committee on Small Business and Entrepreneurship and the Subcommittee on Financial Services and General Government of the Committee on Appropriations of the Senate; and ``(B) the Committee on Small Business and the Subcommittee on Financial Services and General Government of the Committee on Appropriations of the House of Representatives. ``(3) Limitation.--The Administrator shall not exercise the authority under paragraph (1) more than once during any fiscal year.''. <all>
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