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Restricting SBA Aid for Businesses Linked to China

A new bill aims to prevent businesses affiliated with China from receiving assistance from the U.S. Small Business Administration (SBA). This means companies headquartered in China or with over 25% of their voting stock owned by Chinese citizens will be ineligible for U.S. small business support programs. The goal is to protect American taxpayers and support domestic enterprises.
Key points
Businesses headquartered in China will not receive SBA assistance.
Companies with over 25% of voting stock owned by Chinese citizens will be ineligible for SBA aid.
The SBA will need to update its regulations to implement these restrictions.
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Expired
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Additional Information
Print number: 117_HR_1138
Sponsor: Rep. Jacobs, Chris [R-NY-27]
Process start date: 2021-02-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Preventing SBA Assistance from Going to China Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1138.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-18.

What are the main provisions?

Key points include:

  • Businesses headquartered in China will not receive SBA assistance.
  • Companies with over 25% of voting stock owned by Chinese citizens will be ineligible for SBA aid.
  • The SBA will need to update its regulations to implement these restrictions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Jacobs, Chris [R-NY-27].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy