[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1874 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                S. 1874

  To require the timely identification of qualified census tracts for 
        purposes of the HUBZone program, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                           November 15, 2011

 Mr. Merkley (for himself, Ms. Landrieu, and Ms. Snowe) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To require the timely identification of qualified census tracts for 
        purposes of 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 ``HUBZone Qualified Census Tract Act 
of 2011''.

SEC. 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.

SEC. 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.
                                 <all>