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HR 4212 IH

To authorize the Administrator of the Small Business Administration to deem certain small business concerns qualified HUBZone small business concerns.

November 15, 2007

Mr. CRAMER introduced the following bill; which was referred to the Committee on Small Business

To authorize the Administrator of the Small Business Administration to deem certain small business concerns qualified HUBZone small business concerns.

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

SECTION 1. AUTHORITY FOR ADMINISTRATOR OF SMALL BUSINESS ADMINISTRATION TO DEEM CERTAIN SMALL BUSINESS CONCERNS QUALIFIED HUBZONE SMALL BUSINESS CONCERNS.

(a) Waiver Authority- Section 3(p)(5) of the Small Business Act (15 U.S.C. 632(p)(5)) is amended by adding at the end the following new subparagraph:

`(D) WAIVER FOR CERTAIN SMALL BUSINESS CONCERNS- The Administrator may deem a small business concern a qualified HUBZone small business concern if the small business concern has certified in writing to the Administrator (or the Administrator otherwise determines, based on information submitted to the Administrator by the small business concern, or based on certification procedures, which shall be established by the Administration by regulation) that--

`(i) the small business concern is not a HUBZone small business concern under paragraph (3);

`(ii) the principal office of the small business concern is located in a census tract that is adjacent to a HUBZone;

`(iii) not fewer than 35 percent of the employees of the small business concern reside in a HUBZone; and

`(iv) the small business concern meets the criteria under--

`(I) subclauses (II) and (III) of subparagraph (A)(i); and

`(II) subparagraph (A)(ii).'.

(b) Effective Date- The amendment made by subsection (a) shall apply with respect to the treatment of a small business concern beginning on the date that is 90 days after the date of the enactment of this Act.