RISE Reauthorization Act of 2026

The RISE Reauthorization Act of 2026 reauthorizes and expands a federal grant program that provides funding to rural communities for economic development projects. It removes specific references to "industry clusters" from previous rules, replacing them with broader language about "opportunities and networks" to increase flexibility for grantees. The bill requires the program to prioritize rural communities with populations under 20,000, and mandates that at least 10% of annual funds support communities with fewer than 10,000 residents. It authorizes $50 million annually for fiscal years 2026-2030 to support these grants.