Economic Development Administration Reauthorization Act of 2003
Economic Development Administration Reauthorization Act of 2003 - Amends the Public Works and Economic Development Act of 1965 to reauthorize the Economic Development Administration and authorize appropriations for economic development assistance programs for FY 2004 though 2008.
Authorizes the Secretary of Commerce to: (1) provide technical assistance for economic development activities and partnerships to non-profit entities; (2) convene meetings with Federal agencies, State and local governments, economic development districts, Indian tribes, and other appropriate planning and development organizations to improve coordination between Federal agencies; (3) increase the Federal share of project grants; (4) make training, research, and technical assistance grants for studies to evaluate the effectiveness of coordinating funded projects with projects funded under other acts; (5) issue regulations to maintain the proper operation and financial integrity of revolving loan funds established by assistance recipients; (6) approve the use of excess funds to increase the Federal share of a project's cost; (7) determine that a grant recipient is unable to comply with comprehensive economic development strategy requirements and designate the area represented by the recipient as a special impact area; (8) make performance incentive grants and establish performance measures in connection with project grants; and (9) make grants for projects to expand, redevelop, or reuse brownfield sites and for a project for the development of brightfield sites. Requires the Secretary to ensure that grants under such Act will promote job creation and will have a high probability of meeting performance requirements.
Received in the Senate and Read twice and referred to the Committee on Environment and Public Works.