Require the Small Business Administration to publish quarterly reports on the performance of the Small Business Investment Company program and expand reporting metrics for congressional oversight.
Commitment kind: action. Promised action: Require the Small Business Administration to publish quarterly reports on the SBIC program and enhance reporting metrics.. Promised outcome: Improve congressional oversight, transparency, and accountability for the SBIC program.. Deadline: unknown; not assumed expired. As U.S. Representative for Minnesota's 1st District, Finstad praised committee passage of the bipartisan SBIC Reporting Modernization Act of 2026.
Occurrences
This bipartisan legislation will require the Small Business Administration (SBA) to publish quarterly, rather than annually, reports regarding the performance of the Small Business Investment Company (SBIC) program and enhance reporting metrics to improve Congressional oversight.
Finstad's office says the SBIC Reporting Modernization Act of 2026 would require SBA to publish quarterly SBIC performance reports and improve metrics for congressional oversight.
Full Title To amend the Small Business Investment Act of 1958 to require a quarterly report on small business investment companies, and for other purposes.
The introduced bill would amend federal small business investment law to require quarterly reporting on Small Business Investment Companies.
Mr. Finstad (for himself and Ms. Morrison) introduced the following bill; which was referred to the Committee on Small Business Bill Number H.R. 10353 Bill Version Reported in House (RH) Short Title SBIC Reporting Modernization Act of 2026 Full Title To amend the Small Business Investment Act of 1958 to require a quarterly report on small business investment companies, and for other purposes.
Finstad introduced H.R. 10353, the SBIC Reporting Modernization Act of 2026, to require quarterly reporting on small business investment companies.
unverified · Source version 68787 · locator unknown
"Mr. Finstad (for himself and Ms. Morrison) introduced the following bill; which was referred to the Committee on Small Business"
Unverified model/legacy excerpt; not proof. AI summary (separate from source): GovInfo identifies Finstad as sponsor and shows the bill was introduced and referred, not enacted.
unverified · Source version 68789 · locator unknown
"quarterly thereafter, the Administrator shall publish on a webpage of the Administration a report"
Unverified model/legacy excerpt; not proof. AI summary (separate from source): The introduced bill text matches the commitment to require quarterly SBA SBIC reporting.
unverified · Source version 68791 · locator unknown
"H.R. 10353 – SBIC Reporting Modernization Act of 2026 Ordered to be reported by the Yeas and Nays: 23-0"
Unverified model/legacy excerpt; not proof. AI summary (separate from source): The House Small Business Committee ordered the bill reported favorably during the lookback window, showing concrete progress but not final delivery.
unverified · Source version 68793 · locator unknown
"Reported Favorably to the House: 23 Yea, 0 Nay."
Unverified model/legacy excerpt; not proof. AI summary (separate from source): The committee’s official release confirms favorable committee reporting, leaving the commitment unresolved pending enactment and implementation.
unverified · Source version 80115 · locator unknown
"H.R. 10353 | SBIC Reporting Modernization Act of 2026 Official Title To amend the Small Business Investment Act of 1958 to require a quarterly report on small business investment companies, and for other purposes. Sponsor Rep. Finstad, Brad [R-MN-1] Introduced September 14, 2026 Lastest Action September 16, 2026 - Ordered to be Reported by the Yeas and Nays: 23 - 0."
Unverified model/legacy excerpt; not proof. AI summary (separate from source): Official House FloorCast records the latest action as committee reporting, with no House passage, Senate passage, presidential approval, or enactment shown; no newer official delivery action was found in the October 3-5 lookback.
unverified · Source version 92109 · locator unknown
"Last Action Date Listed October 9, 2026 Actions Committed to the Committee of the Whole House on the State of the Union and ordered to be printed"
Unverified model/legacy excerpt; not proof. AI summary (separate from source): GovInfo's reported-in-House record shows the bill advanced to the Committee of the Whole and was ordered printed on October 9, 2026, but this is still a House procedural step rather than enactment.
unverified · Source version 92138 · locator unknown
"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"
Unverified model/legacy excerpt; not proof. AI summary (separate from source): The reported bill text still directly matches the commitment by requiring quarterly SBA SBIC reporting after enactment; because enactment has not occurred, the promise remains unresolved with concrete legislative effort.
unverified · Source version 92138 · locator unknown
"Each report required by this paragraph shall include, for the period covered by the report, the following"
Unverified model/legacy excerpt; not proof. AI summary (separate from source): The reported House version retains expanded reporting contents for oversight, including licensing, debenture, and jobs metrics, but remains proposed law.
unverified · Source version 92140 · locator unknown
"10/9/2026 | H.R. 10353 | SBIC Reporting Modernization Act of 2026 Official Title To amend the Small Business Investment Act of 1958 to require a quarterly report on small business investment companies, and for other purposes.Sponsor Rep. Finstad, Brad [R-MN-1]Introduced September 14, 2026 Lastest Action October 9, 2026 - Placed on the Union Calendar, Calendar No. 742."
Unverified model/legacy excerpt; not proof. AI summary (separate from source): House FloorCast lists the latest action as placement on the Union Calendar on October 9, 2026, with no House passage, Senate passage, presidential signature, or public law status shown.
unverified · Source version 92142 · locator unknown
"H.R. 10353, to amend the Small Business Investment Act of 1958 to require a quarterly report on small business investment companies, and for other purposes (H. Rept. 119-845);"
Unverified model/legacy excerpt; not proof. AI summary (separate from source): A readable mirror of the Congressional Record Daily Digest confirms the committee report filing for H.R. 10353 on October 9, 2026, corroborating official GovInfo status but not final delivery.