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Prohibiting SBA Aid to Businesses Affiliated with China

This act aims to prevent businesses headquartered in China or significantly owned by Chinese citizens from receiving financial assistance from the U.S. Small Business Administration (SBA). This means that funds intended to support small businesses in the U.S. will be directed exclusively to entities not affiliated with China, potentially affecting the availability of funds for some businesses.
Key points
Businesses headquartered in China will be ineligible for SBA assistance.
Businesses with more than 25% of voting stock owned by Chinese citizens will also not receive SBA aid.
The SBA will be required to update its regulations to implement these new restrictions.
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Expired
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Additional Information
Print number: 117_HR_2169
Sponsor: Rep. Smith, Jason [R-MO-8]
Process start date: 2021-03-23
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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_2169.

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 2021-03-23.

What are the main provisions?

Key points include:

  • Businesses headquartered in China will be ineligible for SBA assistance.
  • Businesses with more than 25% of voting stock owned by Chinese citizens will also not receive SBA aid.
  • The SBA will be required to update its regulations to implement these new 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. Smith, Jason [R-MO-8].

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