Bill > HR1081

This bill, known as the "Preventing SBA Assistance from Going to China Act", seeks to restrict certain Chinese businesses from receiving assistance from the Small Business Administration (SBA). Specifically, the bill amends the Small Business Act to prohibit a business from being considered a "small business concern" if it meets two key criteria: first, if the business is located and incorporated in the People's Republic of China, or second, if more than 25 percent of its voting stock is owned by affiliates who are either citizens of or organized under Chinese law. By implementing these restrictions, the bill aims to prevent Chinese businesses from accessing SBA support and resources, effectively limiting potential Chinese economic influence through small business funding. The bill represents a legislative effort to address concerns about business relationships and economic interactions between the United States and China by creating barriers to federal small business assistance for Chinese-linked enterprises.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/1081/all-info