Build to Scale Reauthorization Act of 2026

Increased Access to Capital: The bill adds a requirement to increase access to capital to invest in innovation-based business ventures in geographic regions (Section 2, subsection (a), paragraph (2), subparagraph (G)). This could help local businesses grow.

Economic Prosperity through Venture Development: The updated definition of a venture development organization includes providing direct financing to private innovation-centered businesses, services to accelerate research commercialization, and tailored entrepreneurial support (Section 2, subsection (a), paragraph (2), subparagraph (4)). This is intended to contribute to regional or sector-based economic prosperity.

Targeted Outreach: The Secretary is directed to conduct outreach to encourage participation from public and private sector entities in specific areas, including rural communities, communities negatively impacted by trade, and areas with persistent economic distress (Section 2, subsection (a), paragraph (2), subparagraph (5), paragraph (6)).

Workforce Collaboration: Outreach includes entities that agree to collaborate with local workforce investment area boards to carry out workforce or training related activities (Section 2, subsection (a), paragraph (2), subparagraph (5), paragraph (6)(B)).

Funding Limits and Restrictions: While the bill changes the language regarding how the Secretary carries out activities, the Federal share of the cost for any activity is capped at 50 percent, plus an additional amount that cannot exceed 40 percent based on regional needs (Section 2, subsection (a), paragraph (2), subparagraph (5)).

Dependence on Appropriations: The implementation of these initiatives is explicitly subject to the availability of appropriations (Section 2, subsection (a), paragraph (2), subparagraph (3)(A)).