Overview
Title
To require the Small Business Administration, the Appalachian Regional Commission, and the Delta Regional Authority to enter into an agreement to carry out activities to expand rural entrepreneurship, and for other purposes.
ELI5 AI
H. R. 2728 wants different groups to work together to help people start and grow small businesses in the countryside, especially in Appalachia and the Delta region. They need to make a plan to support these small business owners, and tell Congress how it's going after two years.
Summary AI
H. R. 2728 requires the Small Business Administration, the Appalachian Regional Commission, and the Delta Regional Authority to work together to boost rural entrepreneurship. They must sign an agreement within 120 days of the bill's enactment to help small businesses in these regions. The bill also mandates a report to Congress within two years detailing their activities, opportunities for assistance, and future collaboration plans. This initiative aims to maximize support for rural entrepreneurs in Appalachia and the Delta region.
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AnalysisAI
Overview of the Bill
The proposed legislation, H.R. 2728, titled the "Growing Regional Entrepreneurship and Access To Economic Resilience Act" or the "GREATER Act," seeks to foster rural entrepreneurship and support small businesses within the Appalachian and Delta regions. It directs the Small Business Administration (SBA), the Appalachian Regional Commission, and the Delta Regional Authority to create agreements designed to expand entrepreneurial opportunities in these areas. The bill emphasizes collaboration among these entities as well as cooperation with other federal agencies to ensure comprehensive support for small businesses. A mandatory report to Congress is intended to provide updates and assessments of the activities initiated under this bill.
Significant Issues
Several issues with the bill as it stands could hamper its effectiveness. First, it does not specify a budget or source of funding. This omission raises concerns about potential wasteful spending if not appropriately managed, as there would be no clear financial oversight or allocation. Additionally, the agreements described in the bill are broadly defined, lacking specific guidance and success metrics, which could lead to inefficiencies and a lack of clear direction.
Moreover, the bill lacks a transparent method for selecting which small businesses will receive support within these regions. Without explicit criteria, there's a risk of favoritism or bias. The reporting requirements are vague, with no clear benchmarks for assessing the program's impact, potentially leading to a lack of accountability. Furthermore, the use of vague terms like "appropriate entities" and "appropriate Federal agencies" could result in inconsistent collaboration or interpretation issues.
Impact on the Public
Broadly, the bill aims to bolster rural economies by enhancing entrepreneurship, which could lead to job creation and economic growth in the Appalachian and Delta regions. By supporting small businesses, the local economies may experience revitalization, contributing to overall community welfare and stability.
Impact on Stakeholders
For rural entrepreneurs and small business owners in the target regions, the bill has the potential to provide vital resources and support, which could lead to enhanced growth prospects and stability. However, these benefits hinge on the effective implementation and fairness of the selection process for supported businesses.
Government entities like the SBA and regional authorities could face challenges due to the lack of guidance and funding specifications, potentially leading to administrative burdens and resource allocation dilemmas. Other federal agencies might find themselves involved in collaborative efforts, needing to navigate the ambiguous definitions and roles laid out in the bill.
In conclusion, while the GREATER Act proposes a well-intentioned effort to boost rural entrepreneurship, the vague language and lack of specific operational details suggest a need for refinement to ensure effective implementation and equitable resource distribution. Policymakers would need to address these issues to more effectively achieve the bill’s intended outcomes.
Issues
The bill lacks a specified budget or funding source for the proposed activities in Section 2, potentially leading to wasteful spending without appropriate oversight.
The memorandum of understanding or agreements in Section 2 are described in broad terms without specific guidance on objectives or success metrics, which could lead to inefficiencies or lack of focus.
There is a lack of clear criteria or guidelines in Section 2 for selecting 'covered small business concerns' for participation, leaving room for favoritism or bias.
The reporting requirements in Section 2 are vague and lack explicit benchmarks or criteria for assessing effectiveness and impact, potentially resulting in a lack of accountability.
The use of vague terms such as 'appropriate entities' and 'appropriate Federal agencies' in Section 2 could lead to subjective interpretations and inconsistencies in collaboration efforts.
The language 'as applicable' used in various sections introduces ambiguity, particularly in determining the applicability of certain sections or actions, which could complicate implementation.
Sections
Sections are presented as they are annotated in the original legislative text. Any missing headers, numbers, or non-consecutive order is due to the original text.
1. Short title Read Opens in new tab
Summary AI
The first section of the bill gives it a short title, allowing it to be referred to as the “Growing Regional Entrepreneurship and Access To Economic Resilience Act” or simply the “GREATER Act”.
2. Memorandum of understanding to expand rural entrepreneurship and support to small business concerns within Appalachian region and the Delta region Read Opens in new tab
Summary AI
The section outlines a plan for the Small Business Administration and regional authorities to create agreements that help support rural entrepreneurship and small businesses in the Appalachian and Delta regions. It requires cooperation between these organizations and other federal agencies, includes a reporting mandate to Congress on progress, and defines key terms like "covered small business concern" and the regions involved.