HUBZone Equity for Distressed Communities Act - Amends Small Business Act provisions relating to HUBZones (historically underutilized business zones) to define "qualified suburban area" as any village, city, town, or economic development area governed by a public authority, district, or other unit of general local government, located in a county that includes, or is located in, a metropolitan statistical area and that meets certain low income or high unemployment qualifications.