[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8343 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 8343

  To amend the Small Business Act to require the Administrator of the 
Small Business Administration to establish a program for small business 
concerns owned and controlled by Pacific territories residents, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 16, 2026

Mr. Moylan (for himself, Ms. King-Hinds, and Mrs. Radewagen) introduced 
   the following bill; which was referred to the Committee on Small 
                                Business

_______________________________________________________________________

                                 A BILL


 
  To amend the Small Business Act to require the Administrator of the 
Small Business Administration to establish a program for small business 
concerns owned and controlled by Pacific territories residents, 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 ``Territorial Small Business 
Development Act of 2026''.

SEC. 2. PROGRAM FOR SMALL BUSINESS CONCERNS OWNED AND CONTROLLED BY 
              PACIFIC TERRITORIES RESIDENTS.

    (a) In General.--Section 8(a) of the Small Business Act (15 U.S.C. 
637(a)) is amended--
            (1) by redesignating paragraphs (16) through (21) as 
        paragraphs (17) through (22), respectively; and
            (2) by inserting after paragraph (15) the following new 
        paragraph:
    ``(16) Small Business Concerns Owned and Controlled by Pacific 
Territories Residents.--
            ``(A) In general.--The Administrator shall establish a 
        program to provide assistance to small business concerns owned 
        and controlled by Pacific territories residents of the same 
        type and in the same manner as the Administrator provides 
        assistance to a socially and economically disadvantaged small 
        business concern, except that the Administrator may not 
        establish any eligibility requirements relating to the net 
        worth of an applicant to such program.
            ``(B) Limitation.--The Administrator may only provide 
        assistance under this paragraph to concerns the owners of which 
        can demonstrate status as a Pacific territories resident for 
        the 10-year period preceding the date of receipt of such 
        assistance.
            ``(C) Definitions.--In this paragraph:
                    ``(i) Pacific territories resident.--The term 
                `Pacific territories resident' means a resident (as 
                determined by the Administrator) of Guam, American 
                Samoa, or the Commonwealth of the Northern Mariana 
                Islands.
                    ``(ii) Small business concern owned and controlled 
                by pacific territories residents.--The term `small 
                business concern owned and controlled by Pacific 
                territories residents' means a small business concern--
                            ``(I) the principal place of business of 
                        which is located in Guam, American Samoa, or 
                        the Commonwealth of the Northern Mariana 
                        Islands; and
                            ``(II) for which--
                                    ``(aa) not less than 51 percent of 
                                which is owned by one or more Pacific 
                                territories residents or, in the case 
                                of any publicly owned business, not 
                                less than 51 percent of the stock of 
                                which is owned by one or more Pacific 
                                territories residents; and
                                    ``(bb) the management and daily 
                                business operations of which are 
                                controlled by one or more Pacific 
                                territories residents.''.
    (b) Conforming Amendment.--Section 8(a)(9)(B)(iv) of the Small 
Business Act (15 U.S.C. 637(a)(9)(B)(iv)) is amended by striking 
``paragraph (21)(B)'' and inserting ``paragraph (22)(B)''.
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