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S. 1292, HUBZone Revitalization Act of 2015 1 (July 31, 2015)

handle is hein.congrec/cbo2396 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE July 31, 2015 S. 1292 HUBZone Revitalization Act of 2015 As ordered reported by the Senate Committee on Small Business and Entrepreneurship on June 3, 2015 Small businesses operating in areas designated as historically underutilized business zones (HUBZones) are eligible for preferences when seeking contracts from the federal government. S. 1292 would increase the number of geographic areas that would qualify as HUBZones. Under the bill, businesses in areas that are declared a major disaster area or that suffered a catastrophic incident would be eligible for HUBZone benefits. Further, areas surrounding closed military bases would be eligible for HUBZone designation for a longer period of time. Based on information from the Small Business Administration, the agency that operates the HUBZone program, CBO estimates that implementing S. 1292 would cost less than $500,000 over the 2016-2020 period, assuming appropriation of the necessary amounts. Those additional costs would be incurred to update the program's maps to encompass the newly-eligible areas. Enacting S. 1292 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply. S. 1292 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments. The CBO staff contact for this estimate is Susan Willie. The estimate was approved by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis.

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