Economic Development Reauthorization Act of 2024

The Economic Development Reauthorization Act of 2024 reauthorizes and updates federal economic development programs to support distressed communities across the United States. The bill provides grants for public works, economic development, workforce training, and critical supply chain site development, with specific programs for coal communities experiencing economic dislocation and nuclear host communities. It establishes new offices for Tribal economic development and disaster recovery, updates eligibility criteria to better target assistance to areas with high unemployment or low income, and authorizes funding up to $270 million annually for public works grants through 2029. The bill also includes provisions to improve coordination between the Economic Development Administration and regional commissions, and requires annual reports to Congress on program effectiveness.