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

SBIC Reporting Modernization Act of 2026

Sponsored by Brad FinstadRep. Brad Finstad (R-MN)
Introduced September 14, 2026

AI-Generated Summary

Updated September 15, 2026 at 8:13 PM UTC

The SBIC Reporting Modernization Act of 2026 updates the Small Business Investment Act to require the Small Business Administration (SBA) to publish a quarterly performance report on all licensed Small Business Investment Companies (SBICs). The reports are meant to increase transparency and give policymakers, investors, and the public clearer data on SBIC activity and impact.

Key Provisions

  • Adds a new paragraph (4) to the Act that obligates the SBA Administrator to release a quarterly report on a dedicated SBA webpage, starting 90 days after the law takes effect.
  • Each report must include: the information already required under paragraph (3)(A); the number of applicants approved for final licensing; the number of those approved who meet SBIC eligibility requirements; the total dollar value of SBIC debentures issued; and the number of jobs created or sustained by SBIC investments.

Legislative Activity

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3 earlier actions
HouseCommittee Latest Action

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

Small Business Committee

September 16, 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

Bill Text

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Introduced in HouseIssued September 14, 2026

I

119th CONGRESS

2d Session

H. R. 10353

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

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.

1.

Short title

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

2.

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.

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