Bill · H.R. 8343· House(119-HR-8343)
Territorial Small Business Development Act of 2026
- Introduced
- 4/16/2026
- Last activity
- 4/16/2026 — Referred to the House Committee on Small Business.
- Sponsored by
- James Moylan
- Cosponsors
- - 2 - 0
- Introduced
- In Committee
What this bill would do
This bill, known as the ``Territorial Small Business Development Act of 2026'', seeks to amend the Small Business Act. It requires the Administrator of the Small Business Administration to create a specific program for small business concerns. This program would assist businesses owned and controlled by residents of Pacific territories. The targeted territories include Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. The assistance provided would be of the same type and manner as that given to socially and economically disadvantaged small business concerns.
Yes· 3 of 8
Would business owners be better off under this?+8
Small business owners in Guam, American Samoa, and the CNMI gain access to a new specialized assistance program.
Does this make it easier to run a small business?+8
The bill creates a dedicated assistance program specifically for small businesses owned and controlled by residents of Guam, American Samoa, and the CNMI.
Would people in rural areas be better off under this?+3
The bill provides targeted support to specific geographic territories including American Samoa and the CNMI.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Assistance for Pacific Territories Residents: The bill directs the Administrator to establish a program to provide assistance to small business concerns owned and controlled by residents of Guam, American Samoa, or the Commonwealth of the Northern Mariana Islands (Section 2(a)(1)(A)). This provides a specific mechanism for support similar to how assistance is provided to socially and economically disadvantaged small business concerns (Section 2(a)(1)(A)).
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Removal of Net Worth Barriers: Under this new program, the Administrator is prohibited from establishing any eligibility requirements related to the net worth of an applicant (Section 2(a)(1)(A)).
Potential Negative Impacts for People
- Residency Duration Requirement: To receive assistance, owners must be able to demonstrate status as a Pacific territories resident for a 10-year period preceding the date of receipt of the assistance (Section 2(a)(1)(B)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+8Good For Rural Residents+3Good For Asian Americans+2Good For Low Income Households+2
- Economy And Finance
- Improves Small Business Support+8Increases Job Creation+3Improves Economic Growth+2
- Social Issues And Justice
- Improves Racial Equity+3
- 4/16/2026
- Referred to the House Committee on Small Business.
- 2 Cosponsors added.
- Introduced in House
Kimberlyn King-HindsRepublican · Northern Mariana Islands
Aumua Amata RadewagenRepublican · American Samoa