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119-s-3789119th CongressWALLET

Prospectus Modernization Act of 2026

Sponsored By: Senator Ernst, Joni [R-IA]

Introduced

Summary

Temporarily raises GSA prospectus dollar thresholds for certain federal property projects. This bill would amend 40 U.S.C. 3307(a) so that for fiscal years 2026 through 2028 the thresholds in paragraphs (1) and (2) are set at $10 million (up from $1.5 million) and the paragraph (3) threshold is set at $5 million (up from $750,000). For those fiscal years 40 U.S.C. 3307(h) would not apply to the substituted amounts.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Higher GSA prospectus thresholds for contractors

This bill would raise the dollar amounts that require a GSA prospectus. For fiscal years 2026 through 2028, it would change two $1,500,000 thresholds to $10,000,000 and a $750,000 threshold to $5,000,000. For those years, the bill would also prevent section 3307(h) from adjusting those new amounts. If enacted, federal agencies and companies that bid on construction or property projects would see fewer projects needing a GSA prospectus.

Sponsors & CoSponsors

Sponsor

Ernst, Joni [R-IA]

IA • R

Cosponsors

  • Sen. Schiff, Adam B. [D-CA]

    CA • D

    Sponsored 3/2/2026

Roll Call Votes

No roll call votes available for this bill.

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