Preventing SBA Assistance from Going to China Act

This bill proposes an amendment to the Small Business Act, specifically targeting the eligibility criteria for receiving assistance from the Small Business Administration. Its core objective is to prevent business concerns with significant connections to the People's Republic of China from being classified as small businesses and thus from accessing federal aid. Under the proposed changes, a business concern would be ineligible for SBA assistance if it is located and incorporated in the People's Republic of China . Furthermore, any concern where more than 25 percent of its voting stock is owned by affiliates who are citizens of or organized under the laws of the People's Republic of China would also be prohibited from receiving such assistance.