H.R.2592 - Expanding the Impact of the HUBZone Program Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. Velazquez, Nydia M. [D-NY-7] (Introduced 05/22/2017)|
|Committees:||House - Small Business|
|Latest Action:||House - 05/22/2017 Referred to the House Committee on Small Business. (All Actions)|
This bill has the status Introduced
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- Passed House
- Passed Senate
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- Became Law
Summary: H.R.2592 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (05/22/2017)
Expanding the Impact of the HUBZone Program Act of 2017
This bill amends the Small Business Act to redefine terms relating to the Historically Underutilized Business Zone (HUBZone) program as follows:
- "HUBZone" as any area designated on a map by the Small Business Administration (SBA) within one or more specified locations,
- "base closure area" and "qualified disaster area" to repeal the eight-year limitation on HUBZone eligibility, and
- "qualified HUBZone small business concern" to require SBA certification for up to 10 years.
The SBA must determine whether or not to designate a qualified census tract or qualified nonmetropolitan county as a HUBZone immediately after the Census Bureau publicly releases the first results from the decennial census that occurs after enactment of this bill.
The bill amends the Consolidated Appropriations Act, 2005 to repeal the five-year limitation on HUBZone status of base closure areas.
The SBA must publish performance metrics to measure the success of the HUBZone program in promoting economic development in economically distressed areas.
A small business concern that was qualified as a HUBZone small business concern on or before the enactment of this bill shall be deemed a "qualified HUBZone small business concern" for up to 10 years beginning on its first qualification and may reapply for SBA certification at the end of such period.