H. R. 5070
IN THE HOUSE OF REPRESENTATIVES
August 20, 2021
Ms. Van Duyne introduced the following bill; which was referred to the Committee on Small Business
To require the Comptroller General of the United States to conduct a study on the amount of small business assistance going to small business concerns based in foreign countries, and for other purposes.
This Act may be cited as the
Bringing Back Main Street Act of 2021.
Study on small business assistance to foreign-based companies
The Comptroller General of the United States shall conduct a study to determine the amount of small business assistance that has been received by foreign-based small business concerns during the period beginning on March 1, 2020, and ending on the date of the enactment of this Act.
Not later than 180 days after the date of the enactment of this Act, the Comptroller General shall submit to Congress a report on the findings of the study conducted under subsection (a), including the amount of small business assistance that has been received by foreign-based small business concerns in total and disaggregated by country of origin.
Identifiable or proprietary information
The Comptroller General shall ensure that the report submitted under paragraph (1) does not include any identifiable or proprietary information of any foreign-based small business concern.
In this Act:
Country of origin
The term country of origin means the country, other than the United States—
in which a foreign-based small business concern is headquartered;
under the laws of which an entity owning or holding, directly or indirectly, not less than 25 percent of the economic interest of a foreign-based small business concern is organized; or
of which a person owning or holding, directly or indirectly, not less than 25 percent of the economic interest of a foreign-based small business concern is a citizen.
Foreign-based small business concern
The term foreign-based small business concern means a small business concern—
that is headquartered in a country other than the United States; or
for which an entity organized under the laws of a country other than the United States, or a citizen of such a country, owns or holds, directly or indirectly, not less than 25 percent of the economic interest of the small business concern, including as equity shares or a capital or profit interest in a limited liability company or partnership.
Small business assistance
The term small business assistance means any Federal funds and other benefits available to small business concerns under programs administered by the Small Business Administration, including—
loans, whether directly or indirectly made;
Small business concern
The term small business concern has the meaning given such term under section 3 of the Small Business Act (15 U.S.C. 632).