BUILD Act

This bill would create a grant program run by the U.S. Department of Commerce for certain colleges and universities located in low-income areas, based on how local median family income compares to state or national levels. Eligible schools that sign up would receive a planning grant of up to $100,000 per year for up to 2 years to write a plan for local economic development projects. Once the Department approves the plan, the school would receive a 5-year grant of $25 million to $50 million to carry out projects in its community, such as buildings, housing, small business seed funding, apprenticeships, broadband, health clinics, school partnerships, and research. Schools would report each year on how they used the money. Land-grant universities founded under the 1862 Morrill Act, schools with very high research activity, and military service academies would be excluded.

Full text and official record on Congress.gov

Sponsors

• Jim Costa Democrat sponsor
• 2 cosponsors