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Congress·In Committee·25 days ago

Federal Buildings: Raising Spending Limits for Faster Repairs

Also known as: Prospectus Modernization Act of 2026

Legislative Progress

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Key Points

  • This bill changes how the government approves construction and leasing for federal buildings. It raises the dollar amount that requires the General Services Administration to get special permission from Congress before starting a project.
  • From 2026 through 2028, the limit for building or fixing government offices would rise from $1.5 million to $10 million. The limit for renting office space would increase from $750,000 to $5 million.
  • The goal is to help the government finish smaller projects faster. Because construction costs have gone up over time, many routine repairs now hit the old limits, causing long delays while waiting for Congressional paperwork to be finished.
  • This is a temporary change that lasts for three years. It allows the agency to manage its thousands of buildings more efficiently by reducing the number of mid-sized projects that require a full formal review.

Milestones

2 milestones2 actions
Feb 5, 2026Senate

Read twice and referred to the Committee on Environment and Public Works.

Feb 5, 2026

Introduced in Senate

Source Information

Document Type

Congressional Bill

Official Title

Prospectus Modernization Act of 2026

Bill NumberS 3789
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Environment and Public Works.

Sponsor

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.