New Bill: Representative Brad Finstad introduces H.R. 8881: SBA Artificial Intelligence Utilization Act of 2026
Publish Date: 2026-05-20 11:43:00
Source Domain: www.quiverquant.com
Here are five key points from the article about the SBA Artificial Intelligence Utilization Act of 2026:
-
Introduction of Bill: The bill, called the SBA Artificial Intelligence Utilization Act of 2026 (H.R. 8881), aims to amend the Small Business Act to establish reporting requirements regarding the use of AI and machine learning by the Small Business Administration (SBA).
-
Reporting Requirement: The bill mandates that the SBA Administrator submit reports detailing how AI and machine learning are used, their benefits and risks, and strategies to manage these factors. These reports must be delivered within 90 days of the bill’s enactment and then annually.
-
Maintaining Human Oversight: The report must include strategies for keeping human oversight in decisions involving AI or machine learning recommendations.
-
Task Identification: The report should evaluate which tasks AI and machine learning can handle effectively and which should remain human-driven to improve operations, productivity, or customer service.
-
Definitions and Briefing: The bill clarifies definitions for “artificial intelligence” and “machine learning” based on existing legislation. Following each report, the Administrator must provide a briefing to the relevant congressional committees within 30 days.
