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H.R. 6241: Denying Chinese Investors Access to U.S. Small Business Aid Act

The text of the bill below is as of Jun 27, 2018 (Introduced).


I

115th CONGRESS

2d Session

H. R. 6241

IN THE HOUSE OF REPRESENTATIVES

June 27, 2018

introduced the following bill; which was referred to the Committee on Small Business

A BILL

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

1.

Short title

This Act may be cited as the Denying Chinese Investors Access to U.S. Small Business Aid Act.

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;

(B)

be owned or affiliated by citizens of the People's Republic of China or an entity owned or controlled by, or otherwise connected to, the Government of the People's Republic of China; or

(C)

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.