S. 3340Senate117th Congress (2021-2023)In Committee

Revitalizing Small and Local Businesses Act

AI-Generated Summary

Updated February 8, 2026 at 8:28 AM UTC

The Revitalizing Small and Local Businesses Act creates a competitive grant program, run by the Economic Development Administration, to help small businesses and revitalize business districts in low‑income, rural, and minority communities. Grants are awarded to national nonprofit organizations that partner with local nonprofits to provide technical assistance and capacity‑building services. The program prioritizes applicants that serve socially and economically disadvantaged areas and can operate across multiple states. Up to 80% of project costs can be covered by federal funds, with the possibility of increasing to 100% in certain hardship cases, and the bill authorizes $50 million per year from FY2022 through FY2026.

Key Provisions

Defines "national nonprofit organization" as a nonprofit operating in every Economic Development Administration regional area with expertise in technical assistance for community‑based business district revitalization; also defines "nonprofit organization" under the Internal Revenue Code.
Mandates the Secretary to establish a national program that competitively awards grants to national nonprofits to deliver place‑based technical assistance and capacity‑building for small businesses and district revitalization in disadvantaged communities.
Requires grant applicants to partner with local nonprofit or public community and economic development entities and to show capacity to serve multiple states or regions.
Prioritizes grant awards to applicants serving socially and economically disadvantaged, including rural, communities and those able to serve multiple geographies.
Limits the federal share of project costs to 80%, but allows it to rise to 100% using other federal funds or a waiver if the recipient faces financial hardship.
Restricts administrative costs to no more than 2% of the program’s annual funding.
Appropriates up to $50 million each fiscal year from 2022 through 2026 for the program.

Legislative Activity

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1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Environment and Public Works. (Sponsor introductory remarks on measure: CR S9048)

Environment and Public Works Committee

December 8, 2021

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SenateIntro Referral

Introduced in Senate

December 8, 2021

SenateIntro Referral

Read twice and referred to the Committee on Environment and Public Works. (Sponsor introductory remarks on measure: CR S9048)

Environment and Public Works Committee

December 8, 2021

Floor Debate

3 members

What members said about S. 3340 on the floor

1 Republican2 Democrats

Sen. Alex PadillaD-CA · Dec 8, 2021

Mr. President, I rise to speak in support of the Revitalizing Small and Local Businesses Act, which I introduced today. Even before the onset of the COVID-19 pandemic, historic underinvestment in…

Sen. Alex PadillaD-CA · Dec 8, 2021

Mr. President, I rise to speak in support of the Revitalizing Small and Local Businesses Act, which I introduced today. Even before the onset of the COVID-19 pandemic, historic underinvestment in…

Sen. Amy KlobucharD-MN · Apr 14, 2021

Mr. President, I ask unanimous consent for the legislative activities report of the Committee on Rules and Administration during the 116th Congress be printed in the Congressional Record.

Sen. John ThuneR-SD · Dec 8, 2021

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

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Introduced in SenateIssued December 8, 2021

117th CONGRESS

1st Session

S. 3340

IN THE SENATE OF THE UNITED STATES

December 8, 2021

Mr. Padilla (for himself and Mr. Wicker) introduced the following bill; which was read twice and referred to the Committee on Environment and Public Works

A BILL

To establish a competitive grant program to provide assistance to support small businesses and business district revitalization in low-income, rural, and minority communities, and for other purposes.

Short title

This Act may be cited as the Revitalizing Small and Local Businesses Act.

Revitalizing business districts program

(a)

In general

Title II of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3141 et seq.) is amended by adding at the end the following:

219.

Revitalizing business districts program

(a)

Definitions

In this section:

(1)

National nonprofit organization

The term national nonprofit organization means a nonprofit organization that—

(A)

operates in each geographic area served by a regional office of the Economic Development Administration; and

(B)

has experience and expertise in providing technical assistance and capacity building programs in support of community-based organizations that focus on revitalizing business districts and commercial corridors, including through support of underserved small businesses.

(2)

Nonprofit organization

The term nonprofit organization means an organization that is—

(A)

described in paragraph (3), (4), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986; and

(B)

exempt from taxation under section 501(a) of that Code.

(b)

Program

The Secretary shall establish a national program under which the Secretary shall award grants on a competitive basis to national nonprofit organizations to carry out place-based programs, in partnership with locally-based nonprofit or public community and economic development partners, to provide specialized technical assistance, capacity building, and related services that support small businesses and business district revitalization in low-income, rural, and minority communities.

(c)

Application

A national nonprofit organization seeking a grant under this section shall submit an application to the Secretary at such time, in such manner, and containing such information as the Secretary may require.

(d)

Partnerships

In order to receive a grant under this section, a national nonprofit organization shall demonstrate a track record of, and a strategy for, supporting local business district organizations or similar place-based business or economic development organizations and serving disadvantaged businesses or communities that are socially and economically disadvantaged, including rural communities.

(e)

Prioritization

Notwithstanding section 206, in selecting grant recipients under this section, the Secretary shall give priority to an applicant—

(1)

that would serve communities that are socially and economically disadvantaged, including rural communities; and

(2)

that has the demonstrated capacity to serve multiple States, and multiple geographies within a State.

(f)

Administration

The Secretary shall carry out this section through the headquarters office of the Economic Development Administration.

(g)

Federal share

(1)

In general

Subject to paragraphs (2) and (3) and notwithstanding section 204 or any other provision of law, the Federal share of the cost of a project carried out with assistance under this section shall be not more than 80 percent.

(2)

Use of other Federal funds

A grant recipient may use other Federal funds provided to the grant recipient to increase the Federal share under paragraph (1) up to 100 percent, as the Secretary determines to be appropriate.

(3)

Waiver

The Secretary may increase the Federal share under paragraph (1) up to 100 percent if the Secretary determines that the grant recipient is unable to pay, or would experience significant financial hardship if required to pay, the non-Federal share.

(h)

Administrative costs

Of the amounts made available to carry out this section for a fiscal year, the Secretary may use not more than 2 percent for the administrative costs of carrying out this section.

(i)

Authorization of appropriations

There is authorized to be appropriated to the Secretary $50,000,000 for each of fiscal years 2022 through 2026, to remain available until expended, to carry out this section.

(b)

Direct expenditure or redistribution by recipient

Section 217(a) of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3154c(a)) is amended by striking or 207 and inserting 207, or 219.