Bill > HR3294

This bill, the HUBZone Unification and Business Stability Act of 2017, aims to clarify the definitions related to HUBZones (Historically Underutilized Business Zones) in the Small Business Act. Key provisions include: 1) Transferring the HUBZone definitions from section 3 to section 31 of the Small Business Act, and making conforming amendments throughout various statutes. 2) Amending the definitions of "qualified census tract" and "qualified nonmetropolitan county" to specify that they must be reflected in an online tool prepared by the SBA Administrator. 3) Expanding the definitions of "base closure area" and "qualified disaster area" to provide more flexibility in determining HUBZone eligibility for these areas. 4) Repealing a 5-year limitation on HUBZone status for base closure areas. 5) Clarifying the certification and verification procedures for HUBZone small business concerns, including requirements for an online mapping tool and performance metrics. 6) Allowing currently qualified HUBZone small businesses to maintain their status until the new online tool is developed and published. The bill aims to streamline and provide more transparency around the HUBZone program, which is designed to promote economic development in distressed areas.

Business and Industry

https://www.congress.gov/bill/115th-congress/house-bill/3294/all-info