Preventing SBA Assistance from Going to China Act of 2019

II 116TH CONGRESS 1ST SESSION S. 75 To prohibit certain business concerns from receiving assistance from the Small Business Administration, and for other purposes. IN THE SENATE OF THE UNITED STATES JANUARY 10, 2019 Mr. RUBIO (for himself and Ms. ERNST) introduced the following bill; which was read twice and referred to the Committee on Small Business and En- trepreneurship A BILL To prohibit certain business concerns from receiving assist- ance from the Small Business Administration, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Preventing SBA As- 4 sistance from Going to China Act of 2019’’. 5 VerDate Sep 11 2014 01:50 Jan 18, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S75.IS S75 pamtmann on DSKBFK8HB2PROD with BILLS 2 •S 75 IS SEC. 2. PROHIBITION ON AFFILIATION WITH THE PEOPLE’S 1 REPUBLIC OF CHINA. 2 (a) IN GENERAL.—Section 3(a) of the Small Busi- 3 ness Act (15 U.S.C. 632(a)) is amended by adding at the 4 end the following: 5 ‘‘(10) PROHIBITION ON AFFILIATION WITH THE 6 PEOPLE’S REPUBLIC OF CHINA.—For purposes of 7 this Act, a small business concern may not— 8 ‘‘(A) be headquarted in the People’s Re- 9 public of China; or 10 ‘‘(B) have more than 25 percent of the vot- 11 ing stock of the small business concern owned 12 by affiliates that are citizens of the People’s Re- 13 public of China.’’. 14 (b) REGULATIONS AND GUIDANCE.—The Adminis- 15 trator of the Small Business Administration shall amend 16 the regulations and guidance of the Administration, in- 17 cluding sections 120.100, 120.110, and 121.105 of title 18 13, Code of Federal Regulations, to carry out the amend- 19 ment made by this Act. 20 Æ VerDate Sep 11 2014 01:50 Jan 18, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S75.IS S75 pamtmann on DSKBFK8HB2PROD with BILLS