[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5250 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 5250

To amend the Small Business Act to reform the HUBZone program, and for 
                            other purposes.


_______________________________________________________________________


                    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.

    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 ``Growing And Reviving Rural Economies 
Through Transitioning HUBZone Redesignation Act of 2016''.

SEC. 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.
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