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H.R. 1490 117th Congress House

504 Modernization and Small Manufacturer Enhancement Act of 2021

Official title: 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.

Introduced: March 2, 2021 Introduced by: Angie Craig Democratic · Minnesota See on congress.gov
Commerce Administrative remediesBank accounts, deposits, capitalBusiness recordsCongressional oversight
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Debt collectionEconomic developmentEmployment and training programsEnergy efficiency and conservationFinancial services and investmentsGovernment lending and loan guaranteesLease and rental servicesManufacturingMinority and disadvantaged businessesPerformance measurementSmall Business AdministrationSmall businessUser charges and feesVocational and technical education
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 10 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 19, 2021
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Apr 15, 2021
Motion to reconsider laid on the table Agreed to without objection.
Apr 15, 2021
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)
Apr 15, 2021
Considered as unfinished business. (consideration: CR H1834-1835)
Apr 14, 2021
At 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.
Apr 14, 2021
DEBATE - The House proceeded with forty minutes of debate on H.R. 1490.
Apr 14, 2021
Considered under suspension of the rules. (consideration: CR H1769-1772)
Apr 14, 2021
Ms. Davids (KS) moved to suspend the rules and pass the bill.
Mar 2, 2021
Referred to the House Committee on Small Business.
Mar 2, 2021
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Apr 15, 2021 House · vote #116 On Motion to Suspend the Rules and Pass Passed 400–16 See who voted →
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 Latest action April 19, 2021

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • S 2231 Identical bill 504 Modernization and Small Manufacturer Enhancement Act of 2021
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 8
All 8 Democratic 2 Republican 3
D
Cohen, Steve
Tennessee · Mar 16, 2021
 R
Tenney, Claudia
New York · Mar 16, 2021
Newman, Marie
· Mar 9, 2021
 R
Fitzpatrick, Brian K.
Pennsylvania · Mar 8, 2021
Taylor, Van
· Mar 8, 2021
CHABOT, STEVE
· Mar 2, 2021
 D
Davids, Sharice
Kansas · Mar 2, 2021
 R
Kim, Young
California · Mar 2, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1490: 504 Modernization and Small Manufacturer Enhancement Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-HR-1490/
MLA
"H.R. 1490: 504 Modernization and Small Manufacturer Enhancement Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-1490/.
Bluebook (legal)
H.R. 1490, 117th Cong. (2026), https://openamerica.io/bill/117-HR-1490/.
Markdown link
[H.R. 1490: 504 Modernization and Small Manufacturer Enhancement Act of 2021](https://openamerica.io/bill/117-HR-1490/)
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