H.R. 5250 — Introduced in House

I 114th CONGRESS 2d Session H. R. 5250 IN THE HOUSE OF REPRESENTATIVES May 16, 2016 Mr. Delaney (for himself and Mr. Takai) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to reform the HUBZone program, and for other purposes. 1. Short title This Act may be cited as the Growing And Reviving Rural Economies Through Transitioning HUBZone Redesignation Act of 2016. 2. HUBZone reforms (a) Redesignated areas Section 3(p) of the Small Business Act (15 U.S.C. 632(p)) is amended in paragraph (4)(C), by striking until the later of and all that follows and inserting for the 7-year period following the date on which the census tract or nonmetropolitan county ceased to be so qualified.. (b) Applicability The amendment made by subsection (a) shall apply to any census tract or nonmetropolitan county that is a redesignated area or becomes a redesignated area under section 3(p)(4)(C) of the Small Business Act (15 U.S.C. 632(p)(4)(C)) on or after the date of enactment of this Act.