H.R. 8343 — Territorial Small Business Development Act of 2026

This section establishes a new program under the 8(a) Business Development Program (i.e., a Small Business Administration initiative that provides contracting, management, and technical assistance to small businesses owned by socially and economically disadvantaged individuals) for small business concerns owned and controlled by Pacific territories residents. Eligible concerns must have their principal place of business in Guam, American Samoa, or the Commonwealth of the Northern Mariana Islands; be at least 51% owned and controlled by such residents; and have owners who demonstrate 10 years of continuous residency in those territories preceding the assistance date—with assistance provided in the same type and manner as for disadvantaged concerns but without any net worth eligibility requirements. It also redesignates paragraphs (16) through (21) of Section 8(a) as paragraphs (17) through (22) and makes a conforming cross-reference update.