S.Amdt. 2301

1. Adds SEC. 10__. HUBZONES at the end of title X

   Adds a section

   Inserted: SEC. 10__. HUBZONES.

   Inserted: (a) Designation as a HUBZone.--

   Inserted: (1) In general.--Section 3(p) of the Small Business Act (15 U.S.C. 632(p)) is amended--

   Inserted: (A) in paragraph (4)(D)--

   Inserted: (i) by redesignating clauses (i), (ii), and (iii) as subclauses (I), (II), and (III), respectively, and adjusting the margin accordingly;

   Inserted: (ii) by striking "means lands" and inserting the following "means--

   Inserted: "(i) lands"; and

   Inserted: (iii) by striking the period at the end and inserting the following: "; and

   Inserted: "(ii) during the applicable period, areas adjacent to or within commuting distance of lands described in clause (i) that are directly economically affected by the closing of a military installation, as determined by the Secretary of Housing and Urban Development."; and

   Inserted: (B) by adding at the end the following:

   Inserted: "(8) Applicable period.--The term 'applicable period'--

   Inserted: "(A) means the 2-year period beginning on the date on which the Secretary of Housing and Urban Development makes the relevant determination described in paragraph (4)(D)(ii); and

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   Inserted: "(B) may, at the discretion of the Administrator, be extended to be the 3-year period beginning on the date described in subparagraph (A).".

   Inserted: (2) Applicability.--The amendments made by paragraph (1) shall apply to the closing of any military installation that occurs on or after the date that is 5 years before the date of enactment of this Act.

   Inserted: (b) Tolling of Graduation.--Section 7(j)(10)(C) of the Small Business Act (15 U.S.C. 636(j)(10)(C)) is amended by adding at the end the following:

   Inserted: "(iii)(I) For purposes of this subparagraph, if an area is designated as a HUBZone under section 3(p)(4)(D)(ii)), the Administrator shall not count the time period described in subclause (II) of this clause for any small business concern--

   Inserted: "(aa) that is participating in any program, activity, or contract under section 8(a); and

   Inserted: "(bb) the principal place of business of which is located in that area.

   Inserted: "(II) The time period for purposes of subclause (I) shall be--

   Inserted: "(aa) the 2-year period beginning on the date on which the Secretary of Housing and Urban Development makes the relevant determination described in section 3(p)(4)(D)(ii); and

   Inserted: "(bb) may, at the discretion of the Administrator, be extended to be the 3-year period beginning on the date described in item (aa).".

   Original wording

   At the end of title X, add the following:

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As printed