Combined 8(a) and HUBZone Priority Preference Act

Combined 8(a) and HUBZone Priority Preference Act - Amends the Small Business Act to require a Federal procurement contract awarded as a best value contract by competition to an eligible small business owned and controlled by socially and economically disadvantaged individuals to include an evaluation factor for a bidding participant that is also a qualified HUBZone (historically underutilized business zone) small business. Prohibits such factor from exceeding ten percent of the best value factor assigned to price as an evaluation factor.

Prohibits a procurement contract from being awarded on the basis of competition restricted to qualified HUBZone small businesses unless: (1) the contracting officer has a reasonable expectation that no less than two qualified HUBZone small businesses will submit offers; (2) the award can be made at a fair market price; (3) the contract awarded as a best value contract includes an evaluation factor for a bidding qualified HUBZone small business that is also qualified to receive small business loan assistance through the Small Business Administration (an 8(a) small business); and (4) the evaluation factor does not exceed ten percent of the best value factor assigned to price as an evaluation factor.

Provides that the price offered by an 8(a) HUBZone small business in any case in which a Federal contract is to be awarded on the basis of full and open competition under provisions of the Federal Property and Administrative Services Act of 1949 shall be deemed to be lower than the price offered by another offeror if the price offered by the 8(a) HUBZone small business is no more than 12 percent higher than the otherwise lowest offer. Provides a ten percent higher preference for qualified small businesses that are not HUBZone small businesses.

Sets forth citizenship requirements for HUBZone small businesses.

Increases the procurement contract award thresholds for 8(a) small businesses and qualified HUBZone small businesses.