Territorial Small Business Development Act of 2026

James C. Moylan

Republican · GU · Representative

Source: Congress.gov · FEC

• Aumua Amata Coleman Radewagen (R-AS)Original· 2026-04-16
• Kimberlyn King-Hinds (R-MP)Original· 2026-04-16

Referred to the House Committee on Small Business.

2026-04-16

Source: Congress.gov

The bill would create a new Small Business Administration program specifically designed to help small business owners from Pacific territories like Guam, American Samoa, and the Northern Mariana Islands access loans, training, and other support services. This program would give entrepreneurs in these island communities better access to federal small business resources that are currently harder for them to reach due to their remote locations. The goal is to boost economic development and job creation in these U.S. territories.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

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

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