New Bill: Senator Jim Banks introduces S. 4341: Faster Department of Veterans Affairs Construction Act of 2026 - Quiver Quantitative

We have received text from S. 4341: Faster Department of Veterans Affairs Construction Act of 2026. This bill was received on 2026-04-16, and currently has 2 cosponsors. Here is a short summary of the bill: The Faster Department of Veterans Affairs Construction Act of 2026 is a bill that aims to change how the Department of Veterans Affairs (VA) handles construction projects. Here are the main points of the bill: Use of Commercial Codes and Standards The bill mandates that the Secretary of Veterans Affairs must use commercial codes and standards for the construction or alteration of VA facilities. This means that, in addition to existing federal codes, the VA can adopt building standards from commercial entities as long as they do not conflict with federal laws and regulations. Pilot Projects The Secretary is required to conduct at least three pilot projects each fiscal year from 2027 to 2031. These projects will utilize commercial codes and standards for major construction and minor construction, as well as significant leasing projects. The aim is to evaluate how effectively these commercial codes can be integrated into VA construction practices. Reporting Requirements At the end of each fiscal year from 2027 to 2031, the Secretary must submit a report to both the Senate and House Committees on Veterans' Affairs. This report should detail how the Secretary used the authority granted by the bill and provide updates on each of the pilot projects—whether they were initiated, ongoing, or completed during that fiscal year. Definitions Commercial Codes and Standards: This includes building codes or standards set by organizations such as: The National Fire Protection Association The International Code Council The American Society for Testing and Materials The American Society of Civil Engineers Any additional standards deemed appropriate by the Secretary Federal Codes and Standards: This refers to codes or standards specific to federal agencies, particularly those relevant to the Department of Veterans Affairs. Implementation Timeline The provisions require action starting from fiscal year 2027 and extend through fiscal year 2031, allowing for a structured implementation and assessment period for the use of commercial standards in VA construction. Potential Impact The aim of this legislation is to potentially streamline the construction process for VA facilities, possibly leading to faster completion of projects and improved facility standards, leveraging industry best practices. Relevant Companies ASTM International (ASTM) - As a prominent organization that develops and publishes voluntary consensus technical standards for materials, products, systems, and services, ASTM could see increased demand for its standards and guidelines as the VA looks to adopt commercial codes. International Code Council (ICC) - The ICC's building codes may be utilized in VA construction projects, potentially increasing their relevance and influence in the federal construction domain. National Fire Protection Association (NFPA) - The NFPA is known for its fire safety standards. Its codes could become part of the standards implemented in VA construction, leading to increased engagement with the organization. Senator Jim Banks Bill Proposals Here are some bills which have recently been proposed by Senator Jim Banks: S.4409 : A bill to clarify the program standards registration process for registered apprenticeship programs, and for other purposes. S.4360 : A bill to amend the Employee Retirement Income Security Act of 1974 to require that the Employee Benefit Security Administration make annual reports to Congress on investigations relating to enforcement and on adverse interest agreements, and for other purposes. S.4348 : PARITY Act S.4341 : Faster Department of Veterans Affairs Construction Act of 2026 S.4156 : GAMES Act S.4061 : RAYS Act You can track bills proposed by Senator Jim Banks on Quiver Quantitative's politician page for Banks . Senator Jim Banks Net Worth Quiver Quantitative estimates that Senator Jim Banks is worth $3.4M , as of April 29th, 2026. This is the 206th highest net worth in Congress, per our live estimates. Banks has approximately $84.8K invested in publicly traded assets which Quiver is able to track live. You can track Senator Jim Banks's net worth on Quiver Quantitative's politician page for Banks . Senator Jim Banks Stock Trading We have data on up to $1.0M of trades from Senator Jim Banks, which we parsed from STOCK Act filings. Some of the largest trades include: A October 26th, 2021 sale of up to $50K of $RBLX . The stock has fallen 30.63% since then. A November 12th, 2021 purchase of up to $50K of $PTON . The stock has fallen 89.31% since then. A September 3rd, 2020 sale of up to $15K of $F . The stock has risen 81.82% since then. A September 11th, 2020 purchase of up to $15K of $PASO . A July 29th, 2020 sale of up to $15K of $SBUX . The stock has risen 25.65% since then. You can track Senator Jim Banks's stock trading on Quiver Quantitative's politician page for Banks . 2030 Indiana US Senate Election There has been approximately $11,036,824 of spending in Indiana US Senate elections over the last two years, per our estimates. Approximately $863,245 of this has been from outside spending by PACs and Super PACs. Some of the groups who are spending money in this race include: AMERICAN LEADERSHIP PAC ($604,570) HOOSIER HONOR ($223,620) PROTECT FREEDOM POLITICAL ACTION COMMITTEE ($29,282) CLUB FOR GROWTH PAC ($3,625) INDIANA REPUBLICAN STATE COMMITTEE, INC. ($2,147) You can track this election on our matchup page for the 2030 Indiana US Senate election . This article is not financial advice. See Quiver Quantitative's disclaimers for more information.