118 HR 9904 IH: Preventing SBA Assistance from Going to China Act U.S. House of Representatives 2024-10-01 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS2d SessionH. R. 9904IN THE HOUSE OF REPRESENTATIVESOctober 1, 2024Mr. 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 BusinessA BILLTo 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.