An Act establishing the Rural Coworking and Innovation Center Grant Program; and providing for requirements and imposing duties on the Department of Community and Economic Development.

Senate Bill 674 establishes the Rural Coworking and Innovation Center Grant Program, to be administered by the Department of Community and Economic Development. This program offers competitive grants to eligible entities, such as municipalities, universities, private businesses, and nonprofits. The grants, capped at $500,000, are intended to fund the construction, renovation, utility and broadband improvements, or equipment purchases for coworking and innovation centers in rural counties and municipalities. These centers aim to provide infrastructure and equipment for individuals engaged in online work. Grant recipients must provide matching funds and agree to keep the centers operational for a specified number of years.