,,ii  #aae? ,,congress  #b;d ,session   
,s4 #cjcd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #g1 #bjah ,mrs4  
,gillibr& introduc$ ! foll[+ bill2 :i* 0
 read twice & ref]r$ to ! ,committee on 
,agriculture1 ,nutrition1 & ,=e/ry  ,a  
,,bill  ,to am5d ! ,consolidat$ ,f>m &  
,rural ,developm5t ,act to reau?orize ! 
rural bus9ess inve/m5t program1 & = o!r 
purposes4  #a4 ,%ort title  ,?is ,act   
may be cit$ z ! ,rural ,jobs & ,inve/m5t
 ,act ( #bjah4  #b4 ,rural innovation   
/rong] economy grant program ,subtitle  
,d ( ! ,consolidat$ ,f>m & ,rural       
,developm5t ,act 7#g ,u4,s4,c4 #aiha et 
seq47 is am5d$ by add+ at ! end !       
foll[+3  #cgi;,i4 ,rural innovation     
/rong] economy grant program  7a7       
,def9itions ,9 ?is section3 7#a7        
,eligible entity ,! t]m eligible entity 
means a rural jobs accel]ator p>tn]%ip  
e/abli%$ aft] ! date ( enactm5t ( ?is   
section t--  7,a7 organizes key         
community & regional /akehold]s into a  
work+ gr\p t-- 7i7 focuses on ! %>$     

goals & ne$s ( ! indu/ry clu/]s t are   
objectively id5tifi$ z exi/+1 em]g+1 or 
decl9+2  7ii7 repres5ts a region def9$  
by ! p>tn]%ip 9 accordance ) subp>agraph
 7,b72  7iii7 includes #a or m          
repres5tatives ( ea* (--  7,i7 an       
in/itution ( high] education 7z def9$ 9 
section #aja ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajja772  7,,ii7 
a private entity2 &  7,,iii7 a gov]nm5t 
entity2  7iv7 may include #a or m       
repres5tatives (-- 7,i7 an economic     
developm5t or o!r community or labor    
organization2  7,,ii7 a f9ancial        
in/itution1 includ+ a community         
developm5t f9ancial in/itution 7z def9$ 
9 section #ajc ( ! ,community           
,developm5t ,bank+ & ,f9ancial          
,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4
 #dgjb772  7,,iii7 a philan?ropic       
organization2 &  7,,iv7 a rural         
coop]ative1 if ! coop]ative is organiz$ 
z a nonpr(it organization2 &  7v7 has1 z
 a lead applicant-- 7,i7 a ,di/rict     
,organization 7z def9$ 9 section #cjj4c 

( title #ac1 ,code ( ,f$]al ,regulations
 7or a successor regulation772  7,,ii7  
an ,indian tribe 7z def9$ 9 section #d (
 ! ,indian ,self-,det]m9ation &         
,education ,assi/ance ,act 7#be         
,u4,s4,c4 #ecjd771 or a consortium (    
,indian tribes2  7,,iii7 a ,/ate or a   
political subdivision ( a ,/ate1 includ+
 a special purpose unit ( a ,/ate or    
local gov]nm5t engag$ 9 economic        
developm5t activities1 or a consortium (
 political subdivisions2  7,,iv7 an     
in/itution ( high] education 7z def9$ 9 
section #aja ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajja77 or a     
consortium ( in/itutions ( high]        
education2 or  7,v7 a public or private 
nonpr(it organization2 &  7,b7 subject  
to approval by ! ,secret>y1 may--  7i7  
s]ve a region t is-- 7,i7 a s+le        
jurisdiction2 or  7,,ii7 if ! region is 
a rural area1 multijurisdictional2 &    
7ii7 def9e ! region t ! p>tn]%ip        
repres5ts1 if ! region--  7,i7 is l>ge  
en\gh to conta9 critical elem5ts ( !    

indu/ry clu/] prioritiz$ by ! p>tn]%ip2 
7,,ii7 is small en\gh to enable close   
collaboration among memb]s ( ! p>tn]%ip2
  7,,iii7 includes a majority (         
communities t are locat$ 9--  7aa7 a    
nonmetropolitan area t qualifies z a    
l[-income community 7z def9$ 9 section  
#de;,d7e7 ( ! ,int]nal ,rev5ue ,code (  
#aihf72 &  7bb7 an area t has access to 
or has a plan to a*ieve broadb& s]vice  
7)9 ! mean+ ( title ,,vi ( ! ,rural     
,electrification ,act ( #aicf 7#g       
,u4,s4,c4 #iej;bb et seq4772 &  7,,iv7  
7aa7 has a population ( #ej1jjj or few] 
inhabitants2 or  7bb7 = a region ) a    
population ( m ?an #ej1jjj inhabitants1 
is ! subject ( a positive det]m9ation by
 ! ,secret>y ) respect to a rural-9-"*  
petition1 includ+ su* a petition        
submitt$ concurr5tly ) ! application ( !
 p>tn]%ip = a grant "u ?is section4     
7#b7 ,indu/ry clu/] ,! t]m indu/ry clu/]
 means a broadly def9$ network (        
int]connect$ firms & support+           
in/itutions 9 relat$ indu/ries t        

accel]ate innovation1 bus9ess =mation1 &
 job creation by tak+ advantage ( assets
 & /r5g?s ( a region 9 ! bus9ess        
environm5t4  7#c7 ,high-wage job ,! t]m 
high-wage job means a job t provides a  
wage t is great] ?an ! m$ian wage = !   
applicable region1 z det]m9$ by !       
,secret>y4  7#d7 ,jobs accel]ator ,! t]m
 jobs accel]ator means a jobs accel]ator
 c5t] or program locat$ 9 or s]v+ a     
l[-income rural community t may provide 
co-work+ space1 9-dem& skills tra9+1    
entrepr5eur%ip support1 & any o!r       
s]vices describ$ 9 subsection           
7d77#a77;,b74  7#e7 ,small &            
disadvantag$ bus9ess ,! t]m small &     
disadvantag$ bus9ess has ! mean+ giv5 ! 
t]m small bus9ess conc]n own$ &         
controll$ by socially & economically    
disadvantag$ individuals 9 section      
#h7;d77#c77;,c7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcg7;d77#c77;,c774  7b7
 ,e/abli%m5t  7#a7 ,9 g5]al ,! ,secret>y
 %all e/abli% a grant program "u :i* !  
,secret>y %all aw>d grants1 on a        

competitive basis1 to eligible entities 
to e/abli% jobs accel]ators1 includ+    
relat$ programm+1 t--  7,a7 improve !   
ability ( di/ress$ rural communities to 
create high-wage jobs1 accel]ate !      
=mation ( new bus9esses ) high-gr[?     
pot5tial1 & /r5g!n regional economies1  
includ+ by help+ to build capacity 9 !  
applicable region to a*ieve ^? goals2 & 
7,b7 help rural communities id5tify &   
maximize local assets & connect to      
regional opportunities1 networks1 &     
indu/ry clu/]s t demon/rate high gr[?   
pot5tial4  7#b7 ,co/-%>+  7,a7 ,9 g5]al 
,! ,f$]al %>e ( ! co/ ( any activity    
c>ri$ out us+ a grant made "u p>agraph  
7#a7 %all be n great] ?an #hj p]c5t4    
7,b7 ,9-k9d contributions ,! non-,f$]al 
%>e ( ! total co/ ( any activity c>ri$  
out us+ a grant made "u p>agraph 7#a7   
may be 9 ! =m ( donations or 9-k9d      
contributions ( goods or s]vices fairly 
valu$4  7#c7 ,selection crit]ia ,9      
select+ eligible entities to receive    
grants "u p>agraph 7#a71 ! ,secret>y    

%all consid]-- 7,a7 ! commitm5t (       
p>ticipat+ core /akehold]s 9 ! jobs     
accel]ator p>tn]%ip1 includ+ a          
demon/ration t--  7i7 inve/m5t          
organizations1 includ+ v5ture developm5t
 organizations1 v5ture capital firms1   
revolv+ loan fund]s1 angel inve/m5t     
gr\ps1 community l5d]s1 community       
developm5t f9ancial in/itutions1 rural  
bus9ess inve/m5t companies1 small       
bus9ess inve/m5t companies 7z def9$ 9   
section #ajc ( ! ,small ,bus9ess        
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#ffb771 philan?ropic organizations1 &   
o!r in/itutions focus$ on exp&+ access  
to capital1 are committ$ p>tn]s 9 ! jobs
 accel]ator p>tn]%ip & will+ to         
pot5tially inve/ 9 projects em]g+ f !   
jobs accel]ator2  7ii7 in/itutions (    
high] education1 appli$ rese>*          
in/itutions1 work=ce developm5t         
entities1 & community-bas$ organizations
 are will+ to p>tn] ) ! jobs accel]ator 
to provide work]s ) skills 9 comput]    
sci5ce & o!r te*nology programs relevant

 to ! indu/ry clu/] ne$s ( ! region1 )  
an emphasis on ! use ( on-!-job tra9+1  
regi/]$ appr5tice%ips1 cu/omiz$ tra9+1  
classroom occupational tra9+1 or        
incumb5t work] tra9+2 &  7iii7 employ]s 
are will+ to hire work]s to "w remotely 
f ! jobs accel]ator 9 high-wage jobs2   
7,b7 ! ability ( ! eligible entity to   
provide ! non-,f$]al %>e z requir$ "u   
p>agraph 7#b72  7,c7 ! spe$ ( available 
broadb& s]vice & h[ ! jobs accel]ator   
plans to improve access to high-spe$    
broadb& s]vice1 if necess>y1 & lev]age t
 broadb& s]vice = programs ( ! jobs     
accel]ator2  7,d7 ! id5tification ( a   
t>get$ indu/ry clu/]1 includ+ a         
description (-- 7i7 data %[+ ! exi/5ce (
 em]g5ce ( an indu/ry clu/]2  7ii7 !    
importance ( ! indu/ry clu/] to economic
 gr[? 9 ! region2  7iii7 ! specific ne$s
 & opportunities = gr[? 9 ! indu/ry     
clu/]2  7iv7 ! unique assets a region   
has to support ! indu/ry clu/] & to h a 
competitive advantage 9 t indu/ry clu/]2
  7v7 evid5ce ( a conc5tration ( firms  

or conc5tration ( employees 9 ! indu/ry 
clu/]2 &  7vi7 available                
indu/ry-specific infra/ructure t        
supports ! indu/ry clu/]2  7,e7 !       
ability ( ! p>tn]%ip to l9k rural       
communities to m>kets1 networks1 indu/ry
 clu/]s1 & o!r regional opportunities & 
assets--  7i7 to improve !              
competitiv5ess ( ! rural region2  7ii7  
to repatriate ,unit$ ,/ates jobs2  7iii7
 to fo/] high-wage job creation2  7iv7  
to support innovation & entrepr5eur%ip2 
&  7v7 to promote private inve/m5t 9 !  
rural regional economy2  7,f7 o!r grants
 or loans ( ! ,secret>y & o!r ,f$]al    
ag5cies t ! jobs accel]ator w\ld be able
 to lev]age2 &  7,g7 prospects = !      
propos$ c5t] & relat$ programm+ to h    
su/a9ability beyond ! full maximum l5g? 
( assi/ance "u ?is subsection1 includ+ !
 maximum numb] ( r5ewals4  7#d7 ,grant  
t]m & r5ewals  7,a7 ,t]m ,! initial t]m 
( a grant "u p>agraph 7#a7 %all be #d   
ye>s4  7,b7 ,r5ewal ,! ,secret>y may    
r5ew a grant "u p>agraph 7#a7 = an      

additional p]iod ( n long] ?an #b ye>s  
if ! ,secret>y is satisfi$1 us+ !       
evaluation "u subsection 7e77#b71 t !   
grant recipi5t has successfully e/abli%$
 a jobs accel]ator & relat$ programm+4  
7#e7 ,geographic di/ribution ,to !      
maximum ext5t practicable1 ! ,secret>y  
%all provide grants "u p>agraph 7#a7 =  
jobs accel]ators & relat$ programm+ 9 n 
few] ?an #be ,/ates at any "t4  7c7     
,grant am\nt ,a grant aw>d$ "u          
subsection 7b7 may be 9 an am\nt equal  
to-- 7#a7 n less ?an #ejj1jjj2 &  7#b7 n
 m ?an #b1jjj1jjj4  7d7 ,use ( funds    
7#a7 ,9 g5]al ,subject to p>agraph 7#b71
 funds f a grant aw>d$ "u subsection 7b7
 may only be us$--  7,a7 to con/ruct1   
pur*ase1 or equip a build+ to s]ve z an 
innovation c5t]1 :i* may include-- 7i7  
h\s+ = bus9ess own]s or work]s2  7ii7   
co-work+ space1 :i* may include space = 
remote "w2  7iii7 space = bus9esses to  
utilize ) a focus on entrepr5eurs &     
small & disadvantag$ bus9esses b t may  
include collaboration ) companies ( all 

sizes2  7iv7 job tra9+ programs2 &  7v7 
ef=ts to utilize ! innovation c5t] z "p 
( ! developm5t ( a community d[nt[n2 &  
7,b7 to support programs to be c>ri$ out
 at1 or 9 direct p>tn]%ip )1 ! jobs     
accel]ator t support ! objectives ( !   
jobs accel]ator1 includ+--  7i7 l9k+    
rural communities to m>kets1 networks1  
indu/ry clu/]s1 & o!r regional          
opportunities to support high-wage job  
creation1 new bus9ess =mation1 &        
economic gr[?2  7ii7 integrat+ small    
bus9esses into a supply *a92  7iii7     
creat+ or exp&+ comm]cialization        
activities = new bus9ess =mation2  7iv7 
id5tify+ & build+ assets 9 rural        
communities t are crucial to support+   
regional economies2  7v7 facilitat+ !   
repatriation ( high-wage jobs to !      
,unit$ ,/ates2  7vi7 support+ !         
deploym5t ( innovative processes1       
te*nologies1 & products2  7vii7 enhanc+ 
! capacity ( small bus9esses 9 regional 
indu/ry clu/]s1 includ+ small &         
disadvantag$ bus9esses2  7viii7 increas+

 ,unit$ ,/ates exports & bus9ess        
int]action ) int]national buy]s &       
suppli]s2  7ix7 develop+ ! skills &     
exp]tise ( local work=ces1 entrepr5eurs1
 & in/itutional p>tn]s to support gr[+  
indu/ry clu/]s1 includ+ ! upskill+ (    
incumb5t work]s2  7x7 ensur+ rural      
communities h ! capacity & ability to   
c>ry out projects relat+ to h\s+1       
community facilities1 infra/ructure1 or 
community & economic developm5t to      
support regional indu/ry clu/] gr[?2    
7xi7 e/abli%+ tra9+ programs to meet !  
ne$s ( employ]s 9 a regional indu/ry    
clu/] & prep>e work]s = high-wage jobs2 
&  7xii7 any o!r activities t !         
,secret>y may det]m9e to be appropriate4
  7#b7 ,requirem5t  7,a7 ,9 g5]al       
,subject to subp>agraph 7,b71 n m ?an   
#aj p]c5t ( a grant aw>d$ "u subsection 
7b7 %all be us$ = direct co/s associat$ 
) adm9i/]+ ! grant4  7,b7 ,increase ,!  
,secret>y may increase ! p]c5tage       
describ$ 9 subp>agraph 7,a7 on a        
case-by-case basis4  7e7 ,annual        

activity report & evaluation ,n lat] ?an
 #a ye> aft] receiv+ a grant "u ?is     
section1 & annually !reaft] = ! duration
 ( ! grant1 an eligible entity %all--   
7#a7 report to ! ,secret>y on !         
activities fund$ ) ! grant2 &  7#b7 7,a7
 evaluate ! progress t ! eligible entity
 has made t[>d ! /rategic objectives    
id5tifi$ 9 ! application = ! grant2 &   
7,b7 measure t progress us+ p]=mance    
measures dur+ ! project p]iod1 includ+--
 7i7 high-wage jobs creat$2  7ii7       
high-wage jobs reta9$2  7iii7 private   
inve/m5t lev]ag$2  7iv7 bus9esses       
improv$2  7v7 new bus9ess =mations2     
7vi7 new products or s]vices            
comm]cializ$2  7vii7 improvem5t ( !     
value ( exi/+ products or s]vices "u    
developm5t2  7viii7 regional            
collaboration1 z measur$ by su* metrics 
z-- 7,i7 ! numb] ( organizations        
actively engag$ 9 ! indu/ry clu/]2      
7,,ii7 ! numb] ( symposia held by !     
indu/ry clu/]1 includ+ organizations t  
are n locat$ 9 ! imm$iate region def9$  

by ! p>tn]%ip2 &  7,,iii7 ! numb] (     
fur!r coop]ative agreem5ts2  7ix7 !     
numb] ( education & tra9+ activities    
relat+ to innovation2  7x7 ! numb] (    
jobs relocat$ f outside ( ! ,unit$      
,/ates to ! region2  7xi7 ! am\nt &     
numb] ( new equity inve/m5ts 9 indu/ry  
clu/] firms2  7xii7 ! am\nt & numb] (   
new loans to indu/ry clu/] firms2       
7xiii7 ! doll> increase 9 exports       
result+ f ! project activities2  7xiv7 !
 p]c5tage ( employees = :i* tra9+ 0     
provid$2  7xv7 improvem5t 9 sales (     
p>ticipat+ bus9esses2  7xvi7 improvem5t 
9 wages paid at p>ticipat+ bus9esses2 & 
7xvii7 improvem5t 9 income ( p>ticipat+ 
work]s4  7f7 ,int]ag5cy task =ce  7#a7  
,9 g5]al ,! ,secret>y %all e/abli% an   
int]ag5cy ,f$]al task =ce to support !  
network ( jobs accel]ators by--  7,a7   
provid+ successful applicants )         
available in=mation & te*nical assi/ance
 on ,f$]al res\rces relevant to !       
project & region2  7,b7 e/abli%+ a      
,f$]al support team compris$ ( /aff f   

p>ticipat+ ag5cies 9 ! task =ce t %all  
provide coord9at$ & d$icat$ support     
s]vices to jobs accel]ators2 &  7,c7    
provid+ opportunities = ! network ( jobs
 accel]ators to %>e be/ practices &     
fur!r collaborate to a*ieve ! purposes (
 ?is section4  7#b7 ,memb]%ip ,! task   
=ce e/abli%$ "u p>agraph 7#a7 %all--    
7,a7 be co-*air$ by--  7i7 ! ,secret>y (
 ,comm]ce 7or a designee72 &  7ii7 !    
,secret>y 7or a designee72 &  7,b7      
include-- 7i7 ! ,secret>y ( ,education  
7or a designee72  7ii7 ! ,secret>y (    
,en]gy 7or a designee72  7iii7 !        
,secret>y ( ,heal? & ,human ,s]vices 7or
 a designee72  7iv7 ! ,secret>y ( ,h\s+ 
& ,urban ,developm5t 7or a designee72   
7v7 ! ,secret>y ( ,labor 7or a          
designee72  7vi7 ! ,secret>y (          
,transportation 7or a designee72  7vii7 
! ,secret>y ( ! ,treasury 7or a         
designee72  7viii7 ! ,adm9i/rator ( !   
,environm5tal ,protection ,ag5cy 7or a  
designee72  7ix7 ! ,adm9i/rator ( !     
,small ,bus9ess ,adm9i/ration 7or a     

designee72  7x7 ! ,f$]al ,co-,*air ( !  
,appala*ian ,regional ,commission 7or a 
designee72  7xi7 ! ,f$]al ,co-,*airman (
 ! ,bo>d ( ! ,delta ,regional ,au?ority 
7or a designee72  7xii7 ! ,f$]al        
,co-,*air ( ! ,nor!rn ,bord] ,regional  
,commission 7or a designee72  7xiii7    
national & local organizations t h      
relevant programs & int]e/s t c\ld s]ve 
! ne$s ( ! jobs accel]ators2  7xiv7     
repres5tatives ( ,/ate & local gov]nm5ts
 or ,/ate & local economic developm5t   
ag5cies2 &  7xv7 su* o!r heads ( ,f$]al 
ag5cies & non-,f$]al p>tn]s z det]m9$   
appropriate by ! co-*airs ( ! task =ce4 
7g7 ,au?orization ( appropriations ,!re 
are au?oriz$ to be appropriat$ su* sums 
z are necess>y to c>ry out ?is section4 
4  #c4 ,rural bus9ess inve/m5t program  
7a7 ,limitation on ,rural ,bus9ess      
,inve/m5t ,companies ,controll$ by ,f>m 
,cr$it ,sy/em ,in/itutions ,section     
#chd;,j7c7 ( ! ,consolidat$ ,f>m &      
,rural ,developm5t ,act 7#g ,u4,s4,c4   
#bjji;cc-#i7;c77 is am5d$ by /rik+ #be &

 ins]t+ #ej4  7b7 ,reau?orization       
,section #chd,s ( ! ,consolidat$ ,f>m & 
,rural ,developm5t ,act 7#g ,u4,s4,c4   
#bjji;cc-#ah7 is am5d$ by /rik+ #bjah & 
ins]t+ #bjbc4  7c7 ,coord9ation ) small 
bus9ess inve/m5t company program        
,subtitle ,h ( ! ,consolidat$ ,f>m &    
,rural ,developm5t ,act is am5d$ by     
ins]t+ aft] section #chd,p 7#g ,u4,s4,c4
 #bjji;cc-#ae7 ! foll[+3  #chd,q4       
,coord9ation ) small bus9ess inve/m5t   
company program  7a7 ,9 g5]al ,a rural  
bus9ess inve/m5t company %all be        
eligible to apply = a lic5se "u section 
#cja7;c7 ( ! ,small ,bus9ess ,inve/m5t  
,act ( #aieh 7#ae ,u4,s4,c4 #fha7;c77 to
 op]ate z a small bus9ess inve/m5t      
company "u title ,,iii ( t ,act 7#ae    
,u4,s4,c4 #fha et seq474  7b7 ,exp$it$  
consid]ation ,to ! maximum ext5t        
practicable1 ! ,adm9i/rator ( ! ,small  
,bus9ess ,adm9i/ration %all exp$ite !   
consid]ation ( an application ( a rural 
bus9ess inve/m5t company submitt$ 9     
accordance ) subsection 7a74  7c7       

,def]ral ( int]e/ paym5ts ,= ! fir/     
deb5ture pur*as$ or gu>ante$ by ! ,small
 ,bus9ess ,adm9i/ration "u section #cjc 
( ! ,small ,bus9ess ,inve/m5t ,act (    
#aieh 7#ae ,u4,s4,c4 #fhc7 t is issu$ ) 
respect to a rural bus9ess inve/m5t     
company t is lic5s$ 9 accordance )      
subsection 7a7--  7#a7 int]e/ %all      
accrue 9 ! same mann] z o!r deb5tures   
pur*as$ or gu>ante$ "u t section2 &     
7#b7 dur+ ! fir/ #e ye>s ( ! t]m ( !    
deb5ture1 ! rural bus9ess inve/m5t      
company %all n be requir$ to make       
paym5ts ) respect to ! int]e/ t accrues 
on ! deb5ture4  7d7 ,memor&um ( und]/&+ 
,! ,secret>y may ent] into a memor&um ( 
und]/&+ ) ! ,adm9i/rator ( ! ,small     
,bus9ess ,adm9i/ration--  7#a7 to c>ry  
out ?is section2 &  7#b7 to c>ry out    
outrea* activities to promote           
application "u subsection 7a7 to--  7,a7
 rural bus9ess inve/m5t companies2 &    
7,b7 rural communities4  4  #d4 ,bus9ess
 & innovation s]vices ess5tial community
 facilities ,section #cjf7;a7 ( !       

,consolidat$ ,f>m & ,rural ,developm5t  
,act 7#g ,u4,s4,c4 #aibf7;a77 is am5d$  
by add+ at ! end ! foll[+3  7#bg7       
,bus9ess & innovation s]vices ess5tial  
community facilities ,! ,secret>y may   
make loans & loan gu>antees "u ?is      
subsection & grants "u p>agraphs 7#ai71 
7#bj71 & 7#ba7 = ess5tial community     
facilities = bus9ess & innovation       
s]vices1 su* z incubators1 co-work+     
spaces1 mak]spaces1 & resid5tial        
entrepr5eur & innovation c5t]s4  4