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Territorial Small Business Development Act of 2026
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.
Summary
This bill amends the Small Business Act to establish a new assistance program for small business concerns owned and controlled by residents of Pacific U.S. territories: Guam, American Samoa, and the Northern Mariana Islands. The program provides the same types of assistance as the existing socially and economically disadvantaged small business program, but without net worth-based eligibility requirements. To qualify, business owners must demonstrate residency in one of the three Pacific territories for at least the 10-year period before receiving assistance, and the business must be at least 51 percent owned and operationally controlled by Pacific territories residents. The business principal place of business must also be located in one of the three covered Pacific territories. The bill makes conforming amendments to related Small Business Act provisions.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
2 cosponsors
Actions (2)
- Apr 16, 2026 Referred to the House Committee on Small Business. · house
- Apr 16, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
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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