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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3563 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3563

 To amend the Small Business Act to temporarily designate as a HUBZone 
            counties that are most affected by a recession.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 30, 2010

   Mr. Merkley (for himself, Mr. Bond, and Mr. Bayh) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL

 
 To amend the Small Business Act to temporarily designate as a HUBZone 
            counties that are most affected by a recession.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Rebuilding Local Business Act of 
2010''.

SEC. 2. REBUILDING COUNTIES.

    (a) In General.--Section 3(p) of the Small Business Act (15 U.S.C. 
632(p)) is amended--
            (1) in paragraph (1)--
                    (A) in subparagraph (D), by striking ``or'' at the 
                end;
                    (B) in subparagraph (E), by striking the period at 
                the end and inserting ``; or''; and
                    (C) by adding at the end the following:
                    ``(F) rebuilding counties.''; and
            (2) in paragraph (4), by adding at the end the following:
                    ``(E) Rebuilding counties.--
                            ``(i) In general.--The term `rebuilding 
                        county' means an initial period rebuilding 
                        county or an extension period rebuilding 
                        county.
                            ``(ii) Initial period rebuilding county.--
                        The term `initial period rebuilding county' 
                        means a county, parish, or similar political 
                        subdivision--
                                    ``(I) for which the Administrator 
                                determines that the 1-year unemployment 
                                rate average is not less than 120 
                                percent of the 1-year average 
                                unadjusted unemployment rate for the 
                                United States, based on the most recent 
                                data available from the Secretary of 
                                Labor;
                                    ``(II) that--
                                            ``(aa) as of the date of 
                                        the determination under 
                                        subclause (I), is not a 
                                        HUBZone; or
                                            ``(bb) will cease to 
                                        qualify as a HUBZone not later 
                                        than 2 years after the date of 
                                        the determination under 
                                        subclause (I); and
                                    ``(III) during the 3-year period 
                                beginning on the date on which the 
                                Administrator makes the determination 
                                under subclause (I).
                            ``(iii) Extension period rebuilding 
                        county.--The term `extension period rebuilding 
                        county' means a county, parish, or similar 
                        political subdivision--
                                    ``(I) for which the Administrator 
                                has made a determination under clause 
                                (ii)(I);
                                    ``(II) for which the 3-year period 
                                described in clause (ii)(III) has 
                                ended;
                                    ``(III) for which the Administrator 
                                determines that the average 
                                unemployment rate for the 1-year period 
                                ending on the date on which the 3-year 
                                period described in clause (ii)(III) 
                                ends is not less than 140 percent of 
                                the 1-year average unadjusted 
                                unemployment rate for the United 
                                States, based on the most recent data 
                                available from the Secretary of Labor; 
                                and
                                    ``(IV) during the period beginning 
                                on the date on which the Administrator 
                                makes the determination under subclause 
                                (III) and ending on the earlier of--
                                            ``(aa) the date that is 3 
                                        years after the date of the 
                                        determination under subclause 
                                        (III); and
                                            ``(bb) the date on which 
                                        the Bureau of the Census 
                                        publicly releases the initial 
                                        results of the first decennial 
                                        census occurring after the date 
                                        of the determination under 
                                        subclause (III).
                            ``(iv) 1-year unemployment rate average.--
                        The term `1-year unemployment rate average' 
                        means the average unemployment rate, based on 
                        the most recent data available from the 
                        Secretary of Labor, during any 1-year period 
                        during the period--
                                    ``(I) beginning on the date on 
                                which a recession begins, as determined 
                                by the National Bureau of Economic 
                                Research; and
                                    ``(II) ending on the date that is 
                                180 days after the date on which the 
                                National Bureau of Economic Research 
                                publicly releases the determination 
                                under subclause (I).''.
    (b) Recession of 2007.--For purposes of applying section 3(p)(4) of 
the Small Business Act, as added by subsection (a), in relation to the 
recession announced by the National Bureau of Economic Research on 
December 1, 2008, the term ``1-year unemployment rate average'' means 
the average unemployment rate during the 1-year period ending on the 
date of enactment of this Act, based on the most recent data available 
from the Secretary of Labor.
                                 <all>
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