University Centers for Growth, Development, Prosperity (GDP) Act

Hozzl · 2022-12-29T23:18:22Z

Explore the details of House Bill 7572 University Centers for Growth, Development, Prosperity (GDP) Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

12/29/2022, 11:18 PM

Summary of Bill HR 7572

Bill 117 HR 7572, also known as the University Centers for Growth, Development, Prosperity (GDP) Act, aims to establish a program within the Department of Education to support universities in promoting economic growth and development in their communities. The bill seeks to provide funding for universities to create centers focused on research, innovation, and entrepreneurship.

Under the GDP Act, universities would be able to apply for grants to establish or expand centers that focus on developing partnerships with local businesses, government agencies, and non-profit organizations. These centers would work to identify opportunities for economic growth and development, as well as provide resources and support for entrepreneurs and small businesses.

The bill also includes provisions for universities to collaborate with other institutions of higher education, as well as with industry partners, to share best practices and promote regional economic development. Additionally, the GDP Act emphasizes the importance of diversity and inclusion in these efforts, ensuring that all members of the community have access to resources and opportunities for economic advancement. Overall, the University Centers for Growth, Development, Prosperity (GDP) Act aims to support universities in playing a key role in driving economic growth and development in their communities, while also fostering innovation and entrepreneurship.

Congressional Summary of HR 7572

University Centers for Growth, Development, Prosperity (GDP) Act

This bill requires the Economic Development Administration (EDA) to establish in each state a university center at an institution of higher education that must, to the extent possible, collaborate with economic development districts, provide technical assistance and business development services to area businesses, and conduct research and analysis relating to economic development. In selecting such centers, the EDA must prioritize Historically Black Colleges and Universities, Tribal Colleges and Universities, Hispanic-Serving Institutions, and other minority-serving institutions.

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Current Status of Bill HR 7572

Bill HR 7572 is currently in the status of Bill Introduced since April 26, 2022. Bill HR 7572 was introduced during Congress 117 and was introduced to the House on April 26, 2022. Bill HR 7572's most recent activity was Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management. as of April 27, 2022

Bipartisan Support of Bill HR 7572

Total Number of Sponsors

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 7572

Primary Policy Focus

Commerce

Alternate Title(s) of Bill HR 7572

University Centers for Growth, Development, Prosperity (GDP) Act

To amend the Public Works and Economic Development Act of 1965 to establish university centers to encourage certain economic development, and for other purposes.