Bringing Back Main Street Act of 2021
Bill: H.R.5070 | Sponsor: Rep. Van Duyne, Beth (R-TX)
Policy area: Commerce

Summary:
Bringing Back Main Street Act of 2021
This bill requires the Government Accountability Office to study and report on the amount of small business assistance that has been received by foreign-based small businesses during the period beginning on March 1, 2020, and ending on the bill's date of enactment.

To require the Comptroller General of the United States to conduct a 
    study on the amount of small business assistance going to small 
 business concerns based in foreign countries, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Bringing Back Main Street Act of 
2021''.

SEC. 2. STUDY ON SMALL BUSINESS ASSISTANCE TO FOREIGN-BASED COMPANIES.

    (a) Study.--The Comptroller General of the United States shall 
conduct a study to determine the amount of small business assistance 
that has been received by foreign-based small business concerns during 
the period beginning on March 1, 2020, and ending on the date of the 
enactment of this Act.
    (b) Report.--
            (1) In general.--Not later than 180 days after the date of 
        the enactment of this Act, the Comptroller General shall submit 
        to Congress a report on the findings of the study conducted 
        under subsection (a), including the amount of small business 
        assistance that has been received by foreign-based small 
        business concerns in total and disaggregated by country of 
        origin.
            (2) Identifiable or proprietary information.--The 
        Comptroller General shall ensure that the report submitted 
        under paragraph (1) does not include any identifiable or 
        proprietary information of any foreign-based small business 
        concern.
    (c) Definitions.--In this Act:
            (1) Country of origin.--The term ``country of origin'' 
        means the country, other than the United States--
                    (A) in which a foreign-based small business concern 
                is headquartered;
                    (B) under the laws of which an entity owning or 
                holding, directly or indirectly, not less than 25 
                percent of the economic interest of a foreign-based 
                small business concern is organized; or
                    (C) of which a person owning or holding, directly 
                or indirectly, not less than 25 percent of the economic 
                interest of a foreign-based small business concern is a 
                citizen.
            (2) Foreign-based small business concern.--The term 
        ``foreign-based small business concern'' means a small business 
        concern--
                    (A) that is headquartered in a country other than 
                the United States; or
                    (B) for which an entity organized under the laws of 
                a country other than the United States, or a citizen of 
                such a country, owns or holds, directly or indirectly, 
                not less than 25 percent of the economic interest of 
                the small business concern, including as equity shares 
                or a capital or profit interest in a limited liability 
                company or partnership.
            (3) Small business assistance.--The term ``small business 
        assistance'' means any Federal funds and other benefits 
        available to small business concerns under programs 
        administered by the Small Business Administration, including--
                    (A) loans, whether directly or indirectly made;
                    (B) grants; and
                    (C) contracting preferences.
            (4) Small business concern.--The term ``small business 
        concern'' has the meaning given such term under section 3 of 
        the Small Business Act (15 U.S.C. 632).
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