Summary of HR 2728 - GREATER Act

Overview

The GREATER Act, formally known as the Growing Regional Entrepreneurship and Access To Economic Resilience Act, was introduced in the House of Representatives on April 8, 2025. The primary aim of this legislation is to enhance regional entrepreneurship and improve access to economic resilience across various communities.

Purpose and Intent

The GREATER Act seeks to:
- Foster economic growth by supporting local entrepreneurs.
- Enhance access to resources and opportunities that can lead to sustainable economic development.
- Strengthen regional economies by promoting collaboration among small businesses, local governments, and financial institutions.

Key Provisions

While the full text of the bill is not provided, the following key aspects are anticipated based on the title and intent:
- Support for Entrepreneurs: The bill may include provisions for grants, loans, or other financial assistance aimed at small businesses and startups.
- Regional Collaboration: Encouragement of partnerships between local governments and private sectors to create a supportive ecosystem for entrepreneurship.
- Access to Resources: Initiatives to improve access to training, mentorship, and networking opportunities for aspiring entrepreneurs.

Affected Parties

The GREATER Act is expected to impact:
- Small Business Owners: Entrepreneurs seeking funding and resources to start or grow their businesses.
- Local Governments: Municipalities that may collaborate with businesses to foster economic development.
- Financial Institutions: Banks and other lenders that may be involved in providing financial support to small businesses.

Legislative Process

• Introduced: April 8, 2025
• Referred to Committees: The bill has been referred to multiple committees for consideration:
  • Subcommittee on Economic Development, Public Buildings, and Emergency Management
  • Committee on Transportation and Infrastructure
  • Committee on Small Business
  • Committee on Financial Services

Each committee will review the bill's provisions that fall within their jurisdiction, and further actions will be determined by the Speaker of the House.

Sponsors

The GREATER Act is sponsored by:
- Julia Letlow (Primary Sponsor)
- Christopher R. Deluzio (Cosponsor)

Conclusion

The GREATER Act represents a significant effort to bolster regional entrepreneurship and economic resilience. By providing support and resources to small businesses, the bill aims to create a more robust economic landscape that benefits communities across the nation. As the bill progresses through the legislative process, further details and specific provisions will be clarified.