This bill amends the Public Works and Economic Development Act of 1965 to authorize the Secretary of Commerce to provide predevelopment grants to eligible communities and organizations. These grants would fund activities such as community asset mapping, workforce training, technical assistance, feasibility studies, demonstration projects, capacity building, and permitting support that help prepare communities for larger economic development projects. The legislation is designed to help economically disadvantaged areas and organizations with limited resources get the planning and preparation work done before undertaking major development initiatives. For recipients with low organizational capacity, the Secretary may waive certain cost-sharing requirements to make it easier for smaller or less established organizations to access these funds. The bill was introduced in July 2023 and referred to the Senate Committee on Environment and Public Works, though the legislation does not specify total funding amounts or implementation timelines.