Preventing SBA Assistance from Going to China Act

Bill: 118-hr-9904
Sponsor: full_name: Rep. Mills, Cory [R-FL-7]
Introduced: 2024-10-01
Policy area: Commerce
Latest action: action_date: 2024-10-01
text: Referred to the House Committee on Small Business.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 9904 IN THE HOUSE OF REPRESENTATIVES October 1, 2024 Mr. Mills (for himself, Mr. Webster of Florida , Mr. Weber of Texas , Mr. Steube , Mr. Higgins of Louisiana , and Mr. DesJarlais ) introduced the following bill; which was referred to the Committee on Small Business A BILL To prohibit certain business concerns from receiving assistance from the Small Business Administration, and for other purposes.

1. Short title This Act may be cited as the Preventing SBA Assistance from Going to China Act . 2. Prohibition on affiliation with the People’s Republic of China (a) In general Section 3(a) of the Small Business Act ( 15 U.S.C. 632(a) ) is amended by adding at the end the following: (10) Prohibition on affiliation with the people’s republic of china For purposes of this Act, a small business concern may not— (A) be headquartered in the People’s Republic of China; or (B) have more than 25 percent of the voting stock of the small business concern owned by affiliates that are citizens of the People’s Republic of China. . (b) Regulations and guidance The Administrator of the Small Business Administration shall amend the regulations and guidance of the Administration, including sections 120.100, 120.110, and 121.105 of title 13, Code of Federal Regulations, to carry out the amendment made by this Act.