H.R. 8343

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8343 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 8343

To amend the Small Business Act to require the Administrator of the 
Small Business Administration to establish a program for small business 
concerns owned and controlled by Pacific territories residents, and for 
other purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

April 16, 2026

Mr. Moylan (for himself, Ms. King-Hinds, and Mrs. Radewagen) introduced 
the following bill; which was referred to the Committee on Small 
Business

_______________________________________________________________________

A BILL

To amend the Small Business Act to require the Administrator of the 
Small Business Administration to establish a program for small business 
concerns owned and controlled by Pacific territories residents, 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 ``Territorial Small Business 
Development Act of 2026''.

SEC. 2. PROGRAM FOR SMALL BUSINESS CONCERNS OWNED AND CONTROLLED BY 
PACIFIC TERRITORIES RESIDENTS.

(a) In General.--Section 8(a) of the Small Business Act (15 U.S.C. 
637(a)) is amended--
(1) by redesignating paragraphs (16) through (21) as 
paragraphs (17) through (22), respectively; and
(2) by inserting after paragraph (15) the following new 
paragraph:
``(16) Small Business Concerns Owned and Controlled by Pacific 
Territories Residents.--
``(A) In general.--The Administrator shall establish a 
program to provide assistance to small business concerns owned 
and controlled by Pacific territories residents of the same 
type and in the same manner as the Administrator provides 
assistance to a socially and economically disadvantaged small 
business concern, except that the Administrator may not 
establish any eligibility requirements relating to the net 
worth of an applicant to such program.
``(B) Limitation.--The Administrator may only provide 
assistance under this paragraph to concerns the owners of which 
can demonstrate status as a Pacific territories resident for 
the 10-year period preceding the date of receipt of such 
assistance.
``(C) Definitions.--In this paragraph:
``(i) Pacific territories resident.--The term 
`Pacific territories resident' means a resident (as 
determined by the Administrator) of Guam, American 
Samoa, or the Commonwealth of the Northern Mariana 
Islands.
``(ii) Small business concern owned and controlled 
by pacific territories residents.--The term `small 
business concern owned and controlled by Pacific 
territories residents' means a small business concern--
``(I) the principal place of business of 
which is located in Guam, American Samoa, or 
the Commonwealth of the Northern Mariana 
Islands; and
``(II) for which--
``(aa) not less than 51 percent of 
which is owned by one or more Pacific 
territories residents or, in the case 
of any publicly owned business, not 
less than 51 percent of the stock of 
which is owned by one or more Pacific 
territories residents; and
``(bb) the management and daily 
business operations of which are 
controlled by one or more Pacific 
territories residents.''.
(b) Conforming Amendment.--Section 8(a)(9)(B)(iv) of the Small 
Business Act (15 U.S.C. 637(a)(9)(B)(iv)) is amended by striking 
``paragraph (21)(B)'' and inserting ``paragraph (22)(B)''.
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