Bill > HR5796

This bill, known as the BUILD Act, establishes a grant program to support economic and community development in economically distressed communities through higher education institutions. The Secretary of Commerce will create a list of eligible institutions based on specific income criteria, such as being located in areas where median family income is at least 25% lower than state or national medians. Selected institutions can receive two types of grants: a planning grant (up to $100,000 annually for two years) to develop an implementation strategy, and an implementation grant ($25-50 million over five years) to execute specific community development projects. Eligible projects include renovating buildings, establishing business development programs, creating apprenticeships, building broadband networks, developing health clinics, supporting local school districts, and funding community-relevant research. The program targets specific types of higher education institutions, excluding major research universities and service academies, and aims to provide targeted economic support to low-income areas by leveraging the resources and capabilities of local educational institutions. Participating institutions must submit annual reports detailing how grant funds were used and must focus their projects exclusively within their designated distressed community.

Business and Industry, Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/house-bill/5796/all-info