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Blocking SBA Aid to Small Businesses Affiliated with China.

This bill prevents federal assistance intended for small businesses, provided by the SBA, from going to entities closely tied to the People's Republic of China. Specifically, businesses headquartered in China or those where Chinese citizens own more than 25% of the voting stock will be ineligible for US government support programs. This measure aims to safeguard taxpayer funds and ensure that federal aid benefits businesses primarily serving the US economy.
Key points
Small businesses headquartered in the People's Republic of China are prohibited from receiving financial assistance from the Small Business Administration (SBA).
The prohibition also applies if affiliates who are citizens of the PRC own more than 25% of the company's voting stock.
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Expired
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Additional Information
Print number: 118_S_1372
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2023-04-27
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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 of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1372.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-04-27.

What are the main provisions?

Key points include:

  • Small businesses headquartered in the People's Republic of China are prohibited from receiving financial assistance from the Small Business Administration (SBA).
  • The prohibition also applies if affiliates who are citizens of the PRC own more than 25% of the company's 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 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 2025-12-26.

CATEGORIES

Economy Security