Section 1 Short title
This Act may be cited as the “Preventing SBA Assistance from Going to China Act”.
Preventing SBA Assistance from Going to China Act
A BILL
To prohibit certain business concerns from receiving assistance from the Small Business Administration, and for other purposes.
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.”