Committee on Small Business Celebrates Five Committee Bills Passed on the House Floor

WASHINGTON, D.C. - Today, the U.S. House of Representatives passed five bipartisan bills under suspension favorably out of the chamber. Chairman Roger Williams (TX-25) issued the following statement on the legislation.

"Today's votes reflect House Republicans' strong commitment to put Main Street first," said Chairman Williams. "These bills cut through red tape, expand opportunity for underserved communities, strengthen accountability, and help small businesses adopt emerging technologies. I'm proud of the Committee's work to deliver practical solutions that allow entrepreneurs to start, grow, and compete."

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H.R. 3496, Northern Mariana Islands Small Business Access Act - introduced by Rep. King-Hinds (Del-CNMI)

· The bill would allow inclusion of the Northern Mariana Islands into the Small Business Administration (SBA) Microloan Program, which offers funds to intermediary lenders to provide loans to help small businesses start and expand.

H.R. 5763, Main Street Parity Act - introduced by Chairman Williams (TX-25)

· The bill brings parity to all industries in the SBA 504 loan program by eliminating the five percent equity requirement for limited or single-purpose properties.

H.R. 5764, AI for Main Street Act - introduced by Rep. Alford (MO-04)

· The bill requires SBA-funded Small Business Development Centers (SBDCs) to help small businesses adopt Artificial Intelligence (AI) into their business operations through counseling and training to entrepreneurs.

H.R. 5784, Artificial Intelligence Wisdom for Innovative Small Enterprises (AI-WISE) Act - introduced by Rep. Scholten (MI-03)

· The bill requires the SBA to provide educational AI resources that small businesses can easily access.

H.R. 5788, 504 Program Risk Oversight Act - introduced by Rep. Tran (CA-45)

· The bill requires the SBA to conduct annual risk assessments of the 504 loan portfolio and provide the report to Congress.

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