Bill > S1266

This bill, the HUBZone Expansion Act of 2015, aims to provide greater opportunities for small businesses located in areas affected by military base closures. Specifically, it expands eligibility for the HUBZone program, which offers federal contracting preferences to small businesses in historically underutilized business zones. The bill allows small businesses whose principal offices are in these "base closure HUBZones" to qualify if at least 35% of their employees reside in a HUBZone, a census tract where the base closure HUBZone is entirely located, a census tract that borders the base closure HUBZone, or a census tract adjacent to those bordering tracts. Furthermore, it extends the period during which base closure areas can receive HUBZone eligibility assistance from five years to eight years after their closure, offering more time for economic recovery and business development in these communities.