Update of Public Works and Economic Adjustment Act Grant Rate Regulations

On January 4, 2025, the Economic Development Reauthorization Act of 2024 became law. The Economic Development Administration ("EDA"), U.S. Department of Commerce, publishes this final rule to reflect an amendment made to the grant rates prescribed by EDA's authorizing statute, the Public Works and Economic Development Act of 1965. Immediate implementation of the rule will prevent public confusion between EDA's implementing regulations and changes enacted in the Economic Development Reauthorization Act of 2024.