112th CONGRESS 1st Session S. 1874 IN THE SENATE OF THE UNITED STATES AN ACT To require the timely identification of qualified census tracts for purposes of the HUBZone program, and for other purposes.

1.

Short title

This Act may be cited as the HUBZone Qualified Census Tract Act of 2011.

2.

Designation of qualified census tracts

(a)

Identification of HUBZone qualified census tracts

Not later than 2 months after the date on which the Secretary of Housing and Urban Development receives from the Census Bureau the data obtained from each decennial census relating to census tracts necessary for such identification, the Secretary of Housing and Urban Development shall identify and publish the list of census tracts that meet the requirements of section 42(d)(5)(B)(ii) of the Internal Revenue Code of 1986. (b)

Specification of effective dates of designation

(1)

HUBZone effective date

The Secretary of Housing and Urban Development, after consultation with the Administrator of the Small Business Administration, shall designate a date that is not later than 3 months after the publication of the list of qualified census tracts under subsection (a) upon which the list published under subsection (a) becomes effective for areas that qualify as HUBZones under section 3(p)(1)(A) of the Small Business Act (15 U.S.C. 632(p)(1)(A)). (2)

Section 42 effective date

The Secretary of Housing and Urban Development shall designate a date, which may differ from the HUBZone effective date under paragraph (1), upon which the list of qualified census tracts published under subsection (a) shall become effective for purposes of section 42(d)(5)(B)(ii) of the Internal Revenue Code of 1986. (c)

Rule of construction

Nothing in this section may be construed to affect the method used by the Secretary of Housing and Urban Development to designate census tracts as qualified census tracts in a year in which the Secretary of Housing and Urban Development receives no data from the Census Bureau relating to census tract boundaries.

3.

Report

Not later than 1 year after the date of enactment of this Act, the Administrator of the Small Business Administration shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report that— (1)describes the benefits and drawbacks of using qualified census tract data to designate HUBZones under section 3(p) of the Small Business Act (15 U.S.C. 632(p)); (2)describes any problems encountered by the Administrator in using qualified census tract data to designate HUBZones; and (3)includes recommendations, if any, for ways to improve the process of designating HUBZones.

Passed the Senate December 17, 2011. Secretary