What does Preamble of Territorial Small Business Development Act of 2026 do?

This bill, formally titled '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,' aims to amend the Small Business Act. The bill requires the Administrator of the Small Business Administration to establish a program. The program is specifically targeted towards small business concerns owned and controlled by Pacific territories residents.

What does SHORT TITLE. of Territorial Small Business Development Act of 2026 do?

This bill is formally titled the Territorial Small Business Development Act of 2026.

What does PROGRAM FOR SMALL BUSINESS CONCERNS OWNED AND CONTROLLED BY of Territorial Small Business Development Act of 2026 do?

This section amends Section 8(a) of the Small Business Act to establish a program for small business concerns owned and controlled by Pacific territories residents. The Administrator is directed to provide assistance to these businesses in a manner similar to that provided to socially and economically disadvantaged small businesses. The Administrator is prohibited from establishing net worth eligibility requirements for this program. To qualify, owners must demonstrate Pacific territories residency for the 10 years preceding assistance receipt. A 'Pacific territories resident' is defined as a resident of Guam, American Samoa, or the Commonwealth of the Northern Mariana Islands. A 'small business concern owned and controlled by Pacific territories residents' must have its principal place of business in one of those territories and be at least 51% owned and controlled by Pacific territories residents.

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Territorial Small Business Development Act of 2026

Last updated: 4/16/2026 · Introduced: 4/16/2026

Author: James Moylan (R-GU)

TL;DR (AI)

The bill amends the Small Business Act to create a program providing assistance to small businesses owned and controlled by residents of Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands.
This program will offer support similar to that currently provided to socially and economically disadvantaged small businesses, without imposing net worth eligibility requirements.
To qualify, business owners must demonstrate residency in one of the Pacific territories for at least 10 years prior to receiving assistance.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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