Prospectus Modernization Act of 2026

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.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.