The Southeastern Crescent Economic Empowerment Act reauthorizes and expands the Southeast Crescent Regional Commission, a federal program focused on economic development in southeastern states. The bill increases funding for state capacity building grants from five million dollars annually to ten million dollars per year from 2024 through 2028, and raises overall commission funding to fifty million dollars annually from 2024 to 2027, then sixty million dollars from 2028 to 2032. It expands the types of projects the commission can fund to include climate adaptation and mitigation infrastructure, housing development for workforce needs, and transportation improvements. The legislation also modifies reporting timelines and matching fund requirements to give states and the commission greater flexibility in pursuing economic development initiatives in the Southeast.
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