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Referenced Laws
15 U.S.C. 632(a)
Section 1
1. Short title This Act may be cited as the Preventing SBA Assistance from Going to China Act.
Section 2
2. Prohibition on affiliation with the People’s Republic of China Section 3(a) of the Small Business Act (15 U.S.C. 632(a)) is amended by adding at the end the following: For purposes of this Act, a small business concern may not— be headquartered in the People’s Republic of China; or have more than 25 percent of the voting stock of the small business concern owned by affiliates that are citizens of the People’s Republic of China. The Administrator of the Small Business Administration shall amend the regulations and guidance of the Administration, including sections 120.100, 120.110, and 121.105 of title 13, Code of Federal Regulations, to carry out the amendment made by this Act. (10)Prohibition on affiliation with the people’s republic of chinaFor purposes of this Act, a small business concern may not—(A)be headquartered in the People’s Republic of China; or(B)have more than 25 percent of the voting stock of the small business concern owned by affiliates that are citizens of the People’s Republic of China..