SBA Fixes Tiny Errors in HUBZone Fine Print
Published Date: 2/18/2025
Rule
Summary
The SBA fixed some small but important mistakes in its recent HUBZone and small business program rules to make things clearer and fairer. These corrections affect small businesses using HUBZone and other SBA programs, especially around size protests and financial reporting. The fixes take effect on February 18, 2025, helping businesses avoid confusion and unnecessary paperwork.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
Audited Financial Statement Threshold Raised
The rule corrects Sec. 124.602 to raise the threshold that triggers a requirement to submit audited financial statements from $10,000,000 to $20,000,000. That change is reflected in the introductory text to paragraph (a) and takes effect February 18, 2025.
Who May File HUBZone Size Protests
The rule clarifies who may file a size protest related to a size recertification for a Set Aside or Reserved Award required by Sec. 125.12. The entities explicitly listed are: the contracting officer; the SBA program manager relating to the award (e.g., Director of Government Contracting, Associate Administrator for Business Development, Director of HUBZone) or the Associate General Counsel for Procurement Law; and any other contract or agreement holder for multiple award contracts.
Five-Business-Day Deadline for Recertification Protests
Protests by another contract or agreement holder that relate to a size recertification required by Sec. 125.12 must be received by the contracting officer before the close of business on the 5th business day after bid opening or after notice of the identity of the prospective awardee of an order under a multiple award contract. This timing rule is added to Sec. 121.1004(a)(4) and is effective February 18, 2025.
10-Year Investment Clock Starts on Purchase Date
The rule corrects an example in Sec. 126.200 to state that the 10-year clock for the long-term investment provision begins on the date of the investment. For example, if a firm was certified on March 31, 2021, and purchased a building on July 20, 2021, the 10-year clock begins on July 20, 2021.
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