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Senate Bill 993
117th Congress(2021-2022)
Preventing SBA Assistance from Going to China Act of 2021
Introduced
Introduced
Introduced in Senate on Mar 25, 2021
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Text
Introduced in Senate 
Mar 25, 2021
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Introduced in Senate(Mar 25, 2021)
Mar 25, 2021
No Linkage Found
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 993 (Introduced-in-Senate)


117th CONGRESS
1st Session
S. 993


To prohibit certain business concerns from receiving assistance from the Small Business Administration, and for other purposes.

IN THE SENATE OF THE UNITED STATES

March 25, 2021

Mr. Rubio (for himself, Ms. Ernst, and Mr. Kennedy) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship

A BILL

To prohibit certain business concerns from receiving assistance from the Small Business Administration, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Preventing SBA Assistance from Going to China Act of 2021”.

SEC. 2. Prohibition on affiliation with the People's Republic of China.

(a) In general.—Section 3(a) of the Small Business Act (15 U.S.C. 632(a)) is amended by adding at the end the following:

“(10) PROHIBITION ON AFFILIATION WITH THE PEOPLE'S REPUBLIC OF CHINA.—For 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.”.

(b) Regulations and guidance.—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.