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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

504 Modernization and Small Manufacturer Enhancement Act of 2021

Short Title(s) as Introduced

504 Modernization and Small Manufacturer Enhancement Act of 2021

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Small Business Investment Act of 1958 to improve the loan guaranty program, enhance the ability of small manufacturers to access affordable capital, and for other purposes.


Actions Overview (2)

Date Actions Overview
04/15/2021Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 400 - 16 (Roll no. 116).(text: 04/14/2021 CR H1769-1770)
03/02/2021Introduced in House

All Actions (10)

Date Chamber All Actions
04/19/2021SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
04/15/2021-9:44pmHouseMotion to reconsider laid on the table Agreed to without objection.
04/15/2021-9:44pmHouseOn motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 400 - 16 (Roll no. 116). (text: 04/14/2021 CR H1769-1770)
04/15/2021-9:13pmHouseConsidered as unfinished business. (consideration: CR H1834-1835)
04/14/2021-2:58pmHouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
04/14/2021-2:43pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 1490.
04/14/2021-2:43pmHouseConsidered under suspension of the rules. (consideration: CR H1769-1772)
04/14/2021-2:42pmHouseMs. Davids (KS) moved to suspend the rules and pass the bill.
03/02/2021HouseReferred to the House Committee on Small Business.
03/02/2021HouseIntroduced in House

Cosponsors (8)


Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Small Business03/02/2021 Referred to
Senate Small Business and Entrepreneurship04/19/2021 Referred to

As of 06/24/2021 no related bill information has been received for H.R.1490 - 504 Modernization and Small Manufacturer Enhancement Act of 2021


Latest Summary (2)

There are 2 summaries for H.R.1490. View summaries

Shown Here:
Passed House (04/15/2021)

504 Modernization and Small Manufacturer Enhancement Act of 2021

This bill modifies the Small Business Administration (SBA) 504 Loan Program, which provides a small business with SBA financing—through a certified development company (CDC) intermediary—for expansion or modernization.

Specifically, the bill adds policy goals, at least one of which a CDC must demonstrate to be eligible for assistance. These include (1) enhancing the ability of a small business to reduce costs by using energy efficient products and generating renewable energy, and (2) aiding the revitalization of any 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 a 504 loan, such as correcting borrower or lender information on loan documents or reallocating up to 10% of the cost of a project.

For small manufacturers, the bill (1) increases the maximum loan amount from $5.5 million to $6.5 million, (2) reduces the amount that they must contribute to project costs, (3) increases job retention requirements, and (4) revises collateral requirements and debt refinancing considerations. Further, each SBA district office must partner with a resource partner to provide certain training for small manufacturers.