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US HR2013

Growing and Reviving Rural Economies Through Transitioning HUBZone Redesignation Act of 2017


summary

Introduced
04/06/2017
In Committee
04/06/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Growing and Reviving Rural Economies Through Transitioning HUBZone Redesignation Act of 2017 This bill amends the Small Business Act with respect to Historically Underutilized Business Zones (HUBZones) located in qualified census tracts, qualified nonmetropolitan counties, or redesignated areas, which are census tracts or nonmetropolitan counties that cease to meet the ordinary criteria for the HUBZone program but are "redesignated" to qualify for it. The bill increases the length of time a census tract or nonmetropolitan county may be redesignated to qualify for HUBZone status from three years to seven years after the date on which the area ceased to meet the ordinary criteria.

AI Summary

This bill, the Growing and Reviving Rural Economies Through Transitioning HUBZone Redesignation Act of 2017, amends the Small Business Act to increase the length of time a Historically Underutilized Business Zone (HUBZone) can remain designated as such after it ceases to meet the ordinary criteria. Specifically, the bill extends the redesignation period from 3 years to 7 years for census tracts or nonmetropolitan counties that no longer qualify for HUBZone status. This change is intended to help support businesses and revitalize rural economies that have lost their HUBZone designation.

Committee Categories

Business and Industry

Sponsors (10)

Last Action

Referred to the House Committee on Small Business. (on 04/06/2017)

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