HUBZone and Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) Amendments

The Small Business Administration (SBA) is making this change to its regulations to implement Section 412(a) of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) and amends the definition of “qualified census tract” (QCT) in the HUBZone Program regulations as set forth in the Internal Revenue Code, except for areas in Puerto Rico, which for a limited time will use the IRS Code definition without regard to subclause {II} of that definition.