The GREATER Act would require three federal partners—the Small Business Administration (SBA), the Appalachian Regional Commission (ARC), and the Delta Regional Authority (DRA)—to enter into a memorandum of understanding (MOU) or similar agreement within 120 days of enactment. The purpose is to coordinate and carry out activities to expand rural entrepreneurship and support small businesses located in the Appalachian region and the Delta region. The agencies may use reimbursable agreements and collaborate with other federal entities to maximize impact. A joint report to Congress would be due within two years, detailing coordination, opportunities for expanded assistance, the number of entrepreneurs helped, future collaboration plans, and ongoing coordination. In short, the bill seeks to formalize interagency collaboration to boost rural entrepreneurship in the specified regions, with accountability through a Congress-requested progress report. It does not itself authorize new funding, but it creates a framework for coordinated activities and potential cross-agency partnerships.
Key Points
- 1Within 120 days of enactment, SBA, ARC, and DRA must enter into an MOU or equivalent agreement to expand rural entrepreneurship and support covered small business concerns in the applicable regions.
- 2The activities must be coordinated across the Appalachian region and the Delta region, with explicit inclusion of “covered small business concerns” (small businesses located in those regions).
- 3The agencies may establish reimbursable agreements among ARC, DRA, SBA, and other entities to maximize effectiveness, and may collaborate with other federal agencies as appropriate.
- 4A joint report to Congress is due within two years, covering coordination, opportunities to expand assistance, the number of entrepreneurs helped, future collaboration plans, and continuing coordination efforts.
- 5Definitions clarify who is covered and what constitutes the relevant regional authorities (including specific statutory definitions for “covered small business concern,” “Appalachian Regional Commission,” and “Delta region/Delta Regional Authority”).