Bill Details
HR.1081 - 119th Congress
Status
Latest action
2025-02-06 - Referred to the House Committee on Small Business.
Introduced Date
2025-02-06
Policy Area
Commerce
Committees
View committees (1)
Sponsors
Cosponsors
View cosponsors (8)
7
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would stop certain businesses tied to the People’s Republic of China from being treated as small businesses under federal law, which would block them from getting Small Business Administration help. In simple terms, a company would not qualify for SBA support if it is based and incorporated in China, or if more than 25% of its voting stock is owned by affiliates that are citizens of China or organized under Chinese law. The goal is to keep SBA assistance focused on businesses without that level of Chinese ownership or control.
- It changes the Small Business Act to add a new rule limiting SBA eligibility.
- A business cannot be counted as a small business if it is located and incorporated in the People’s Republic of China.
- A business also would not qualify if Chinese affiliates own more than 25% of its voting stock.
- The bill is aimed at preventing SBA assistance from going to businesses with significant ties to China.
Official Summaries
No summaries available
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1081 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 1081
To prohibit certain business concerns from receiving assistance from
the Small Business Administration, and for other purposes.
_______________________________________________________________________
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.
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 ``Preventing SBA Assistance from Going
to China Act''.
SEC. 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.''.
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