H.R. 2728 — GREATER Act

This section directs the Small Business Administration (SBA) Administrator, the head of the Appalachian Regional Commission (ARC), and the head of the Delta Regional Authority (DRA)—referred to as covered officials—to enter into one or more memoranda of understanding (MOUs) or agreements within 120 days of enactment to expand rural entrepreneurship and support covered small business concerns (i.e., small businesses as defined in 15 U.S.C. 632 located in the Appalachian or Delta regions). (As background: ARC and DRA are federal-state partnerships that promote economic development in their respective economically distressed multi-state regions.) In carrying out the MOUs, covered officials must include covered small business concerns; may enter reimbursable agreements among themselves, SBA, ARC, DRA, and other entities; and may collaborate with other federal agencies. This section further requires covered officials to submit a joint report to Congress within two years of enactment describing (1) coordination among them, (2) opportunities to expand assistance to rural entrepreneurs and covered small business concerns, (3) the number of such entrepreneurs and concerns assisted, (4) areas for future collaboration, and (5) plans to continue coordination.