Preventing SBA Assistance from Going to China Act

Bill: 119-hr-1081
Sponsor: full_name: Rep. Mills, Cory [R-FL-7]
Introduced: 2025-02-06
Policy area: Commerce
Latest action: action_date: 2025-02-06
text: Referred to the House Committee on Small Business.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 1081 IN THE HOUSE OF REPRESENTATIVES February 6, 2025 Mr. Mills (for himself, Mr. Webster of Florida , Mr. Steube , Mr. Baird , Mr. Buchanan , Mr. DesJarlais , and Mr. Perry ) 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 small business concern affiliation with the People’s Republic of China 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 concern may not be considered a small business concern if such concern is— (A) located and incorporated in the People’s Republic of China; or (B) has more than 25 percent of the voting stock of the concern owned by affiliates that are citizens of or organized under the laws of the People’s Republic of China. .