The Prospectus Modernization Act temporarily raises the dollar thresholds that trigger reporting requirements for General Services Administration (GSA) building and real estate projects. Specifically, for fiscal years 2026 through 2028, the bill increases the main threshold from $1.5 million to $10 million and reduces a secondary threshold from $750,000 to $5 million. This means GSA projects below these new limits will no longer require congressional prospectus review and approval during this three-year period. The change affects federal real estate projects managed by the GSA and effectively streamlines the approval process for smaller construction and renovation initiatives. No new funding is authorized; the bill only adjusts existing administrative thresholds and expires after fiscal year 2028.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.