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H.R. 595 (116th): Denying Chinese Investors Access to U.S. Small Business Aid Act


The text of the bill below is as of Jan 16, 2019 (Introduced). The bill was not enacted into law.


I

116th CONGRESS

1st Session

H. R. 595

IN THE HOUSE OF REPRESENTATIVES

January 16, 2019

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; 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.