H.R. 5796 — BUILD Act

This section establishes a grant program administered by the Secretary of Education to support institutions of higher education (IHEs) located in economically distressed communities in planning and implementing projects for economic and community development. The Secretary designates eligible IHEs by developing a list of those located in a ZIP code or county where median family income is at least 25% lower than the state median (if higher than national) or national median (if state is lower than national), varying by metropolitan/micropolitan status; notifies them of potential eligibility; and designates as eligible those IHEs that confirm intent to participate. This section provides planning grants to designated IHEs, each up to $100,000 per year for up to 2 years (with possible additional funds applied for after 1 year and awarded within 90 days), to develop an implementation plan—due within 2 years—for eligible projects supporting community revitalization, which the Secretary reviews for approval using a specified formula. Upon plan approval, this section provides 5-year implementation grants to carry out described projects, distributed via formula.