Referred to the Committee on Small Business, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The SBIR/STTR Foreign Interference Safeguard Act blocks small businesses that are indirectly owned or controlled by foreign entities from receiving federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) program awards. The bill defines "covered foreign entities" broadly to include foreign governments, terrorist organizations, entities on U.S. sanctions lists, and any individuals or organizations with significant ties to countries hostile to U.S. interests, as well as venture capital firms, hedge funds, or private equity companies owned by these foreign entities. The legislation extends the Small Business Administration's security risk assessment program through September 30, 2030, and directs the SBA Administrator to establish size standards and conduct ownership reviews to determine eligibility. The restrictions apply to all SBIR awards made after the bill's enactment, affecting small businesses seeking federal innovation funding that have foreign ownership or control stakes.
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