To expand the scope of the HUBZone program to include difficult development areas.

April 30, 2003

Ms. MURKOWSKI introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship

To expand the scope of the HUBZone program to include difficult development areas.

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

SECTION 1. EXPANSION OF HUBZONE PROGRAM.

Section 3(p)(4)(B)(ii) of the Small Business Act (15 U.S.C. 632(p)(4)(B)(ii)) is amended--

(1) in subclause (I), by striking `or' at the end;

(2) in subclause (II), by striking the period at the end and inserting `; or'; and

(3) by adding after subclause (II) the following:

`(III) there is located a difficult development area, as designated by the Secretary of Housing and Urban Development in accordance with section 42(d)(5)(C)(iii) of the Internal Revenue Code of 1986.'.

END