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Ban on SBA Aid for Businesses Affiliated with China.

This law prohibits the Small Business Administration (SBA) from providing federal financial assistance to companies headquartered in China or those more than 25% controlled by Chinese citizens. The goal is to ensure that U.S. public funds exclusively support domestic small businesses, protecting them from foreign control. Implementing these changes requires amending internal SBA regulations.
Key points
Small businesses headquartered in the People's Republic of China lose eligibility for any assistance from the SBA.
SBA aid is also unavailable to businesses where citizens of China own more than 25% of the voting stock.
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Expired
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Additional Information
Print number: 118_HR_9904
Sponsor: Rep. Mills, Cory [R-FL-7]
Process start date: 2024-10-01
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Summarized by: gemini-2.5-flash-preview-09-2025
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 118_HR_9904.

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 2024-10-01.

What are the main provisions?

Key points include:

  • Small businesses headquartered in the People's Republic of China lose eligibility for any assistance from the SBA.
  • SBA aid is also unavailable to businesses where citizens of China own more than 25% of the voting stock.
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. Mills, Cory [R-FL-7].

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 2025-12-26.

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Economy Public Investments