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SBA Reduces Waiting Period to Reapply for HUBZone Status

The Small Business Administration has issued an interim final rule amending its Historically Underutilized Business Zone Program regulations. Specifically, the rule amends SBA 126.309 and SBA 126.803 to allow a declined or decertified HUBZone small business to reapply for certification 90 calendar days from the date of decline or decertification if it believes it has overcome all reasons for being declined or decertified through changed circumstances and is currently eligible. Previously, once declined or decertified, small businesses had to wait one year to reapply for HUBZone certification. According to the SBA, reducing the wait period will encourage businesses affected by the results of the 2010 Decennial Census to move into newly designated HUBZones and hire HUBZone residents. Comments on the rule, identified by RIN 3245-AG45, are due August 22, 2011. For the text of the interim final rule, which carries an effective date of July 21, 2011, see 70,425.436.




(The news featured above is a selection from the news covered in the Government Contracts Report Letter, which is published weekly and distributed to subscribers of the Government Contracts Reporter. )


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