The Tuskegee Airmen Memorial Act of 2026 authorizes the organization Tuskegee Airmen, Inc. to build a commemorative monument on federal land in Washington, D.C., honoring the original Tuskegee Airmen who served in World War II. This legislation allows the group to accept private donations and cover all costs for the project without using federal funds, while requiring any leftover money to be deposited into specific government accounts. The bill also mandates that the memorial be constructed in compliance with existing federal standards for commemorative works.
The ACCESS Act modifies tax rules to treat publicly traded partnerships more like corporations for specific income and asset tests, provided that individual owners hold less than 5% of the partnership. It eliminates special restrictions that previously applied to passive activities and changes how certain partnership sales are classified for tax purposes. Additionally, the bill adjusts withholding requirements for partnership interests that are regularly traded on established securities exchanges. These changes are designed to simplify tax treatment for investors in publicly traded partnerships and take effect for taxable years beginning after December 31, 2026.
The S Corporation Modernization Act of 2026 introduces several changes to U.S. tax law to update rules for S corporations. It allows shareholders who inherit S corporation stock to deduct built-in gains over 15 years, while also adjusting how gains are treated if specific assets are sold. The bill expands the maximum number of allowed shareholders from 100 to 250 and permits individual retirement accounts to own S corporation stock. Additionally, it raises the passive investment income limit from 25 percent to 60 percent and creates a new withholding tax system for nonresident alien shareholders. The legislation also repeals the tax on nonqualified deferred compensation plans and allows employees of a firm to be counted as a single shareholder for eligibility purposes.
The STRONG Kids Act establishes a new grant program to support youth sports organizations in improving health outcomes and increasing access to physical activity for children under 18. The Department of Health and Human Services will award competitive grants to national and regional nonprofits, which must then distribute smaller subgrants to local groups for specific initiatives such as coach training, injury prevention, and safety protocols. Eligible recipients can use funds to lower barriers for underserved populations, implement background checks to prevent abuse, and promote positive character development through structured sports programs. The legislation authorizes funding starting in fiscal year 2027 and requires organizations to prioritize youth with limited resources while submitting regular reports to Congress on program effectiveness.
The GET THE LEAD OUT Act of 2026 establishes a comprehensive national strategy to eliminate lead-based pipe hazards in housing by providing federal grants to states and local governments for evaluating and removing lead pipes in affordable homes. This legislation mandates risk assessments and inspections for federally assisted housing, requires disclosure of lead pipe conditions during property sales, and creates a task force to develop financing standards and training for certified contractors. Additionally, the bill authorizes significant funding for the Department of Housing and Urban Development and the Environmental Protection Agency to support these abatement efforts and public education campaigns.
The REPLACE Act updates federal programs to better address lead hazards in housing and drinking water systems. It expands grant requirements for lead paint removal to include evaluations of water pipes and plumbing, ensuring that both paint and water risks are managed together. The bill also broadens the definition of pipes needing replacement to include certain galvanized lines and mandates coordination between water and housing remediation efforts. Additionally, the legislation provides new technical support for workforce training, data management, and local implementation capacity to help communities complete these safety projects.
The Wildfire Reduction Market Expansion Act of 2026 updates the Clean Air Act to broaden the definition of renewable biomass eligible for carbon credits. It specifically allows materials from forest management, such as slash, storm debris, and wood residuals, to be counted as renewable fuel if they come from sustainably managed lands or public forests designated for fuel reduction. The bill also includes vegetation cleared from defensible space around buildings and from wildfire risk reduction projects in the wildland-urban interface. By clarifying these categories and establishing certification requirements, the legislation aims to increase the supply of biomass available for generating renewable energy credits.
This bill, known as the D.C. Taxing Authority Review Act, modifies the rules for how new taxes and fees proposed by the District of Columbia government are reviewed by Congress. It requires that any D.C. law imposing or increasing a tax or fee must receive explicit approval from a joint resolution passed by both the House of Representatives and the Senate within 60 days, or else the law will not take effect. Additionally, the bill limits the time for debating these specific approval resolutions to one hour, split evenly between supporters and opponents. These changes directly affect the District of Columbia government's ability to enact new financial measures without prior congressional consent.
This bill designates the facility of the United States Postal Service located at 86-014 Farrington Highway in Wai'anae, Hawai'i, as the "U.S Representative Colleen Hanabusa Post Office Building".
The Connected Vehicle Security Act of 2026 restricts the importation, sale, and use of connected vehicles and related technology from China, Russia, Iran, and North Korea to protect national security. Starting in 2027, the bill generally bans these vehicles if they originate from or are controlled by these countries, with separate restrictions on software and hardware taking effect in 2030. The Secretary of Commerce is authorized to issue specific exemptions for items that do not pose a security risk and must publish a list of approved products. The law also requires companies to submit declarations confirming their vehicles comply with the rules and imposes heavy fines for violations.
The Aviation Innovation and Global Competitiveness Act requires the Federal Aviation Administration (FAA) to improve transparency and predictability in certifying new aircraft and technologies. It directs the FAA to publish a plan within 180 days to streamline handling technical issues during certification, set standard timelines for key steps (like applicant responses), and convert stable issues into published policies. The bill also mandates updated guidance on delegating certification tasks to ensure safety and efficiency, especially for emerging sectors like advanced air mobility. The FAA must consult with industry stakeholders and report annually to Congress on implementation progress.
The Main Street Capital Access Act reduces regulatory burdens for smaller banks, particularly those with less than $10 billion in assets. Key provisions include a 3-year phase-in period for new banks to meet capital requirements, lower leverage ratio requirements for rural banks (7.5% for the first 2 years), and a 30-day review process for business plan deviations. The bill also establishes an Office of Independent Examination Review, sets specific timelines for examinations (270 days) and reports (90 days), and creates a "least cost exception" for bank resolutions to prevent excessive concentration of the banking system. These changes aim to promote new bank formation, improve regulatory efficiency, and support community banking while maintaining financial stability.
