H.R. 10353House119th Congress (2025-2027)In Committee

SBIC Reporting Modernization Act of 2026

To amend the Small Business Investment Act of 1958 to require a quarterly report on small business investment companies, and for other purposes.

AI-Generated Summary

Updated October 10, 2026 at 5:50 AM UTC

The SBIC Reporting Modernization Act of 2026 would change the Small Business Investment Act of 1958 so that the Small Business Administration (SBA) must publish a performance report on licensed Small Business Investment Companies (SBICs) every quarter. The reports would be posted online and would contain data on licensing activity, debenture issuance, and job impacts. The rule would affect SBICs, the SBA administrator, and anyone using the data, such as policymakers and investors.

Key Provisions

Require a quarterly performance report on SBICs to be posted on an SBA webpage, starting 90 days after the law takes effect.
Each report must include licensing statistics (the number of applicants approved for final licensing and those meeting specific requirements), the dollar amount of debentures issued, and the number of jobs created or sustained by SBIC investments.
The report also must include the information already required under the existing paragraph (3)(A) of the section.

Legislative Activity

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5 earlier actions

HouseCalendars Latest Action

Placed on the Union Calendar, Calendar No. 742.

October 9, 2026

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HouseIntro Referral

Introduced in House

September 14, 2026

HouseIntro Referral

Referred to the House Committee on Small Business.

Small Business Committee

September 14, 2026

HouseCommittee

Committee Consideration and Mark-up Session Held

Small Business Committee

September 16, 2026

HouseCommittee

Ordered to be Reported by the Yeas and Nays: 23 - 0.

Small Business Committee

September 16, 2026

HouseCommittee

Reported by the Committee on Small Business. H. Rept. 119-845.

Small Business Committee

October 9, 2026

HouseCalendars

Placed on the Union Calendar, Calendar No. 742.

October 9, 2026

Bill Text

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Reported in HouseIssued October 9, 2026

Union Calendar No. 742

119th CONGRESS

2d Session

H. R. 10353

[Report No. 119–845]

IN THE HOUSE OF REPRESENTATIVES

September 14, 2026

Mr. Finstad (for himself and Ms. Morrison) introduced the following bill; which was referred to the Committee on Small Business

October 9, 2026

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

A BILL

To amend the Small Business Investment Act of 1958 to require a quarterly report on small business investment companies, and for other purposes.

Short title

This Act may be cited as the SBIC Reporting Modernization Act of 2026.

Quarterly small business investment company performance report

Section 308(g) of the Small Business Investment Act of 1958 (15 U.S.C. 687(g)) is amended by adding at the end the following new paragraph:

(4)

Quarterly report

(A)

In general

Beginning on the date that is 90 days after the date of the enactment of this paragraph, and quarterly thereafter, the Administrator shall publish on a webpage of the Administration a report on small business investment companies licensed under this title.

(B)

Contents

Each report required by this paragraph shall include, for the period covered by the report, the following:

(i)

The information described in paragraph (3)(A).

(ii)

The number of applicants approved by the Administrator to proceed to the final licensing phase under section 107.300(b) of title 13, Code of Federal Regulations (or a similar successor regulation).

(iii)

The number of applicants received the approval described in clause (ii) and met the requirements of section 302(a).

(iv)

The dollar value of debentures issued under this title.

(v)

The number of jobs created or sustained due to investments made by small business investment companies.

October 9, 2026

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed