119th Congress (2025-2026)

HR 8343

Territorial Small Business Development Act of 2026

Introduced

Jurisdiction

US Congress

Session

119th Congress (2025-2026)

Official source

Chamber

House

Session

119th Congress (2025-2026)

Jurisdiction

US Congress

Bill overview

This bill aims to support small businesses in Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands by creating a specific program within the Small Business Administration. The program will offer assistance similar to that provided to socially and economically disadvantaged small businesses, with some adjustments to eligibility requirements. It prioritizes ownership and control by residents of these territories, fostering economic development within those communities.

Key provisions

Establishes a program within the Small Business Administration to assist small businesses in Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands.
The program will mirror assistance provided to socially and economically disadvantaged small businesses.
Applicants must demonstrate Pacific territories residency for the past 10 years.
At least 51% ownership and control of the business must be held by Pacific territories residents.
The principal place of business must be located in one of the specified territories.

Who is affected

Small business owners
Residents of Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands
The Small Business Administration

Notable changes

Creates a new category of small business assistance focused on Pacific territories residents.
Modifies existing SBA regulations to accommodate this new program.

Positions across the country

No public positions recorded for this legislation.

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Arguments opposed

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Legislative history

2026-04-16House

Referred to the House Committee on Small Business.

2026-04-16

Introduced in House

2026-04-16

Introduced in House

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Apr 16, 2026XMLView source

119th CONGRESS — 2d Session

H. R. 8343

IN THE HOUSE OF REPRESENTATIVES

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.

1.Short title

This Act may be cited as the

Territorial Small Business Development Act of 2026

2.Program for small business concerns owned and controlled by Pacific territories residents

(a)In generalSection 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 generalThe 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)LimitationThe 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 residentThe 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 residentsThe 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 amendmentSection 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).

HR 8343

Bill overview

Key provisions

Who is affected

Notable changes

Sponsors

Primary sponsor

Cosponsors

Positions across the country

Arguments in favor

Arguments opposed

Bill text

Positions across the country