This bill reauthorizes and expands the Rural Innovation Stronger Economy grant program, which provides federal funding to rural communities working to diversify their economies and build new business opportunities. The legislation simplifies the program by removing restrictions that limited grants to specific "industry clusters," allowing grants to support a broader range of economic development activities in rural areas. The bill specifically prioritizes very small rural communities, requiring that at least 10 percent of annual grant funding go to communities with populations under 10,000 and directing the program to emphasize communities under 20,000 residents. The bill authorizes $50 million per year in funding for fiscal years 2027 through 2031, and requires state rural development offices to approve grant selections in their areas. Overall, the changes make the program more flexible and accessible to a wider variety of small rural communities seeking to strengthen their local economies.
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