Preventing SBA Assistance from Going to China Act
This bill prohibits the Small Business Administration from providing aid, counsel, or assistance to a small business concern that (1) is headquartered in China, or (2) has more than 25% of voting stock owned by citizens of China.
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''.

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.
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Preventing SBA Assistance from Going to China Act
To prohibit certain business concerns from receiving assistance from the Small Business Administration, and for other purposes.
Preventing SBA Assistance from Going to China Act
Rep. Smith, Jason