GREATER Act

Summary

Requires the Small Business Administration, the Appalachian Regional Commission, and the Delta Regional Authority to sign one or more memoranda of understanding within 120 days to coordinate activities that expand rural entrepreneurship and support small businesses in the Appalachian and Delta regions. The agencies may use reimbursable agreements, work with other federal partners, ensure inclusion of covered small business concerns, and must jointly report to Congress within two years describing activities, counts of businesses or entrepreneurs assisted, opportunities to expand assistance, and plans for continued collaboration.

• Requires SBA, ARC, and DRA to sign MOUs within 120 days to coordinate expansion of rural entrepreneurship in Appalachian and Delta regions.
• MOUs may use reimbursable agreements and include cooperation with other federal agencies.
• Agencies must ensure participation of covered small business concerns in coordinated activities.
• A joint report to Congress is required within two years detailing assistance provided and plans for future collaboration.
• No new appropriations are specified; the bill relies on agencies' existing authorities and agreements.
• Definitions for covered small business concern, ARC, Delta region, and DRA are included to clarify scope.
• Focuses on administrative coordination and planning rather than creating new grant programs.
• Timelines: 120 days to enter agreements; two years to submit the report.