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Restrictions on SBA Assistance for China-Affiliated Businesses

New rules aim to prevent businesses affiliated with the People's Republic of China from receiving support from the U.S. Small Business Administration (SBA). This means companies headquartered in China or with more than 25% of their voting stock owned by Chinese citizens will be ineligible for SBA assistance programs. The goal is to protect American taxpayers and support local businesses.
Key points
Businesses headquartered in the People's Republic of China will not receive SBA assistance.
Businesses with more than 25% of their voting stock owned by Chinese citizens will also be ineligible for SBA aid.
The SBA must amend its regulations to implement these new rules.
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Additional Information
Print number: 117_S_993
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2021-03-25
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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 of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_993.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-25.

What are the main provisions?

Key points include:

  • Businesses headquartered in the People's Republic of China will not receive SBA assistance.
  • Businesses with more than 25% of their voting stock owned by Chinese citizens will also be ineligible for SBA aid.
  • The SBA must amend its regulations to implement these new rules.
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 Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy