1. Short title This Act may be cited as the 504 Modernization and Small Manufacturer Enhancement Act of 2023 . 2. Additions to policy goals for the development company program Section 501(d)(3) of the Small Business Investment Act of 1958 ( 15 U.S.C. 695(d)(3) ) is amended— (1) by redesignating subparagraphs (A) through (L) as subparagraphs (B) through (M), respectively; (2) by inserting before subparagraph (B), as so redesignated, the following: (A) workforce development through work-based or work-integrated training, which shall be satisfied by demonstrating that a small business concern that is a subject of the project has— (i) a documented in-house training program, the duration of which is not shorter than 12 weeks; or (ii) entered into a contract with an entity— (I) to provide trained applicants for any open position of employment at the small business concern; and (II) that ensures that any applicant provided to the small business concern under subclause (I) has undergone not fewer than 12 weeks of training that is relevant to the open position described in that subclause, ; (3) by amending subparagraph (D), as so redesignated, to read as follows: (D) expansion of minority-owned, employee-owned, or women-owned business development, ; (4) in subparagraph (L), as so redesignated, by striking producers, or and inserting producers, ; (5) in subparagraph (M), as so redesignated, by striking the period at the end and inserting a comma; (6) by inserting after subparagraph (M), as so redesignated, the following: (N) enhanced ability for small business concerns to reduce costs by using energy efficient products and generating renewable energy, (O) aid revitalizing of any area for which a disaster has been declared or determined under subparagraph (A), (B), (C), or (E) of section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ), or (P) expansion of small business concerns with 10 or fewer employees.