HUBZone Revitalization Act of 2015

Bill: 114-s-1292
Sponsor: full_name: Sen. Vitter, David [R-LA]
Introduced: 2015-05-12
Policy area: Commerce
Subjects: Disaster relief and insurance

Economic development

Government lending and loan guarantees

Military facilities and property

Small business
Latest action: action_date: 2016-05-26
text: By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report. Report No. 114-269.

Summaries:
action_date: 2015-05-12
action_desc: Introduced in Senate
text: <p><b>HUBZone Revitalization Act of 2015</b></p> <p>This bill amends the Small Business Act to redefine HUBZones (historically underutilized business Zones) eligible for certain assistance to include a qualified disaster area (a specified census tract or nonmetropolitan county located in a major declared disaster area or in an area where a catastrophic incident has occurred).</p> <p>A qualified disaster area shall be treated as a HUBZone for 5 years after it has been declared a major disaster area or for 10 years after a catastrophic incident has occurred within it.</p> <p>The Federal Emergency Management Agency shall provide the Small Business Administration with any data it needs to verify a small business's eligibility for the HUBZone small business loan program.</p> <p>HUBZones shall now also include areas that can be used by small businesses whose principal offices are located in base closure HUBZones, with at least 35% of their employees residing in:</p> <ul> <li>a HUBZone,</li> <li>a census tract in which the base closure HUBZone is wholly contained,</li> <li> a census tract that intersects the boundaries of the base closure HUBZone, or</li> <li> census tract contiguous with these census tracts.</li> </ul> <p>HUBZone eligibility assistance for base closure areas is extended from five years to eight years after their closure.</p>

action_date: 2015-06-10
action_desc: Reported to Senate without amendment
text: <p>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</p> <p><b>HUBZone Revitalization Act of 2015</b></p> <p>(Sec. 2) This bill amends the Small Business Act to redefine HUBZones (historically underutilized business Zones) eligible for certain assistance to include a qualified disaster area (a specified census tract or nonmetropolitan county located in a major declared disaster area or in an area where a catastrophic incident has occurred).</p> <p>A qualified disaster area shall be treated as a HUBZone for 5 years after it has been declared a major disaster area or for 10 years after a catastrophic incident has occurred within it.</p> <p>The Federal Emergency Management Agency shall provide the Small Business Administration with any data it needs to verify a small business's eligibility for the HUBZone small business loan program.</p> <p>(Sec. 3) HUBZones shall now also include areas that can be used by small businesses whose principal offices are located in base closure HUBZones, with at least 35% of their employees residing in:</p> <ul> <li>a HUBZone,</li> <li>a census tract in which the base closure HUBZone is wholly contained,</li> <li> a census tract that intersects the boundaries of the base closure HUBZone, or</li> <li> census tract contiguous with these census tracts.</li> </ul> <p>This bill also amends the Consolidated Appropriations Act, 2005 to extend HUBZone eligibility assistance for base closure areas from five years to eight years after their closure.</p>

tv_txt: II 114th CONGRESS 1st Session S. 1292 IN THE SENATE OF THE UNITED STATES May 12, 2015 Mr. Vitter (for himself and Mr. King ) 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 treat certain qualified disaster areas as HUBZones and to extend the period for HUBZone treatment for certain base closure areas, and for other purposes.

1. Short title This Act may be cited as the HUBZone Revitalization Act of 2015 . 2. HUBZone qualified disaster areas (a) In general The Small Business Act ( 15 U.S.C. 631 et seq. ) is amended— (1) in section 3(p) ( 15 U.S.C. 632(p) )— (A) in paragraph (1)— (i) in subparagraph (D), by striking or ; (ii) in subparagraph (E), by striking the period at the end and inserting ; or ; and (iii) by adding at the end the following: (F) qualified disaster areas. ; and (B) in paragraph (4), by adding at the end the following: (E) Qualified disaster area (i) In general The term qualified disaster area means any census tract or nonmetropolitan county located in an area for which the President has declared a major disaster under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ) or located in an area in which a catastrophic incident has occurred, if— (I) in the case of a census tract, the census tract ceased to be a qualified census tract during the period beginning 5 years before and ending 2 years after the date on which— (aa) the President declared the major disaster; or (bb) the catastrophic incident occurred; or (II) in the case of a nonmetropolitan county, the nonmetropolitan county ceased to be a qualified nonmetropolitan county during the period beginning 5 years before and ending 2 years after the date on which— (aa) the President declared the major disaster; or (bb) the catastrophic incident occurred. (ii) Treatment A qualified disaster area shall only be treated as a HUBZone— (I) in the case of a major disaster declared by the President, during the 5-year period beginning on the date on which the President declared the major disaster for the area in which the census tract or nonmetropolitan county, as applicable, is located; and (II) in the case of a catastrophic incident, during the 10-year period beginning on the date on which the catastrophic incident occurred in the area in which the census tract or nonmetropolitan county, as applicable, is located. ; and (2) in section 31(c)(3) ( 15 U.S.C. 657a(c)(3) ), by inserting the Administrator of the Federal Emergency Management Agency, after the Secretary of Labor, . (b) Applicability The amendments made by subsection (a) shall apply to a major disaster declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ) or a catastrophic incident that occurs on or after the date of enactment of this Act. 3. Base closure HUBZones (a) In general Section 3(p)(5)(A)(i)(I) of the Small Business Act ( 15 U.S.C. 632(p)(5)(A)(i)(I) ) is amended— (1) in item (aa), by striking or at the end; (2) by redesignating item (bb) as item (cc); and (3) by inserting after item (aa) the following: (bb) pursuant to subparagraph (A), (B), (C), (D), or (E) of paragraph (3), that its principal office is located in a HUBZone described in paragraph (1)(E) (relating to base closure areas) (in this item referred to as the base closure HUBZone ), and that not fewer than 35 percent of its employees reside in— (AA) a HUBZone; (BB) the census tract in which the base closure HUBZone is wholly contained; (CC) a census tract the boundaries of which intersect the boundaries of the base closure HUBZone; or (DD) a census tract the boundaries of which are contiguous to a census tract described in subitem (BB) or (CC); or . (b) Period for base closure areas (1) Amendments (A) In general Section 152(a)(2) of title I of division K of the Consolidated Appropriations Act, 2005 ( 15 U.S.C. 632 note) is amended by striking 5 years and inserting 8 years . (B) Conforming amendment Section 1698(b)(2) of National Defense Authorization Act for Fiscal Year 2013 ( 15 U.S.C. 632 note) is amended by striking 5 years and inserting 8 years . (2) Effective date; applicability The amendments made by paragraph (1) shall— (A) take effect on the date of enactment of this Act; and (B) apply to— (i) a base closure area (as defined in section 3(p)(4)(D) of the Small Business Act ( 15 U.S.C. 632(p)(4)(D) )) that, on the day before the date of enactment of this Act, is treated as a HUBZone described in section 3(p)(1)(E) of the Small Business Act ( 15 U.S.C. 632(p)(1)(E) ) under— (I) section 152(a)(2) of title I of division K of the Consolidated Appropriations Act, 2005 ( 15 U.S.C. 632 note); or (II) section 1698(b)(2) of National Defense Authorization Act for Fiscal Year 2013 ( 15 U.S.C. 632 note); and (ii) a base closure area relating to the closure of a military instillation under the authority described in clauses (i) through (iv) of section 3(p)(4)(D) of the Small Business Act ( 15 U.S.C. 632(p)(4)(D) ) that occurs on or after the date of enactment of this Act.

tv_txt: II Calendar No. 112 114th CONGRESS 1st Session S. 1292 IN THE SENATE OF THE UNITED STATES May 12, 2015 Mr. Vitter (for himself and Mr. King ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship June 10, 2015 Reported by Mr. Vitter , without amendment A BILL To amend the Small Business Act to treat certain qualified disaster areas as HUBZones and to extend the period for HUBZone treatment for certain base closure areas, and for other purposes.

1. Short title This Act may be cited as the HUBZone Revitalization Act of 2015 . 2. HUBZone qualified disaster areas (a) In general The Small Business Act ( 15 U.S.C. 631 et seq. ) is amended— (1) in section 3(p) ( 15 U.S.C. 632(p) )— (A) in paragraph (1)— (i) in subparagraph (D), by striking or ; (ii) in subparagraph (E), by striking the period at the end and inserting ; or ; and (iii) by adding at the end the following: (F) qualified disaster areas. ; and (B) in paragraph (4), by adding at the end the following: (E) Qualified disaster area (i) In general The term qualified disaster area means any census tract or nonmetropolitan county located in an area for which the President has declared a major disaster under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ) or located in an area in which a catastrophic incident has occurred, if— (I) in the case of a census tract, the census tract ceased to be a qualified census tract during the period beginning 5 years before and ending 2 years after the date on which— (aa) the President declared the major disaster; or (bb) the catastrophic incident occurred; or (II) in the case of a nonmetropolitan county, the nonmetropolitan county ceased to be a qualified nonmetropolitan county during the period beginning 5 years before and ending 2 years after the date on which— (aa) the President declared the major disaster; or (bb) the catastrophic incident occurred. (ii) Treatment A qualified disaster area shall only be treated as a HUBZone— (I) in the case of a major disaster declared by the President, during the 5-year period beginning on the date on which the President declared the major disaster for the area in which the census tract or nonmetropolitan county, as applicable, is located; and (II) in the case of a catastrophic incident, during the 10-year period beginning on the date on which the catastrophic incident occurred in the area in which the census tract or nonmetropolitan county, as applicable, is located. ; and (2) in section 31(c)(3) ( 15 U.S.C. 657a(c)(3) ), by inserting the Administrator of the Federal Emergency Management Agency, after the Secretary of Labor, . (b) Applicability The amendments made by subsection (a) shall apply to a major disaster declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ) or a catastrophic incident that occurs on or after the date of enactment of this Act. 3. Base closure HUBZones (a) In general Section 3(p)(5)(A)(i)(I) of the Small Business Act ( 15 U.S.C. 632(p)(5)(A)(i)(I) ) is amended— (1) in item (aa), by striking or at the end; (2) by redesignating item (bb) as item (cc); and (3) by inserting after item (aa) the following: (bb) pursuant to subparagraph (A), (B), (C), (D), or (E) of paragraph (3), that its principal office is located in a HUBZone described in paragraph (1)(E) (relating to base closure areas) (in this item referred to as the base closure HUBZone ), and that not fewer than 35 percent of its employees reside in— (AA) a HUBZone; (BB) the census tract in which the base closure HUBZone is wholly contained; (CC) a census tract the boundaries of which intersect the boundaries of the base closure HUBZone; or (DD) a census tract the boundaries of which are contiguous to a census tract described in subitem (BB) or (CC); or . (b) Period for base closure areas (1) Amendments (A) In general Section 152(a)(2) of title I of division K of the Consolidated Appropriations Act, 2005 ( 15 U.S.C. 632 note) is amended by striking 5 years and inserting 8 years . (B) Conforming amendment Section 1698(b)(2) of National Defense Authorization Act for Fiscal Year 2013 ( 15 U.S.C. 632 note) is amended by striking 5 years and inserting 8 years . (2) Effective date; applicability The amendments made by paragraph (1) shall— (A) take effect on the date of enactment of this Act; and (B) apply to— (i) a base closure area (as defined in section 3(p)(4)(D) of the Small Business Act ( 15 U.S.C. 632(p)(4)(D) )) that, on the day before the date of enactment of this Act, is treated as a HUBZone described in section 3(p)(1)(E) of the Small Business Act ( 15 U.S.C. 632(p)(1)(E) ) under— (I) section 152(a)(2) of title I of division K of the Consolidated Appropriations Act, 2005 ( 15 U.S.C. 632 note); or (II) section 1698(b)(2) of National Defense Authorization Act for Fiscal Year 2013 ( 15 U.S.C. 632 note); and (ii) a base closure area relating to the closure of a military instillation under the authority described in clauses (i) through (iv) of section 3(p)(4)(D) of the Small Business Act ( 15 U.S.C. 632(p)(4)(D) ) that occurs on or after the date of enactment of this Act.

June 10, 2015 Reported without amendment