119 HR 8343 IH: Territorial Small Business Development Act of 2026 U.S. House of Representatives 2026-04-16 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.

I119th CONGRESS2d SessionH. R. 8343IN THE HOUSE OF REPRESENTATIVESApril 16, 2026Mr. Moylan (for himself, Ms. King-Hinds, and Mrs. Radewagen) introduced the following bill; which was referred to the Committee on Small BusinessA BILLTo 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.

1.

Short title

This Act may be cited as the Territorial Small Business Development Act of 2026.

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).