(a)
Establishment— Not later than 180 days after the date of enactment of this section, the Secretary of Commerce, acting through the Economic Development Administration, shall establish, and make publicly available on the website of the Department of Commerce, a clearinghouse to be known as the Economic Development Resource Clearinghouse (hereinafter referred to as the “Clearinghouse”) for the purpose described in subsection (b).
(b)
Purpose— The purpose of the Clearinghouse shall be to increase awareness of Federal and State programs, grants, loans, loan guarantees, and other assistance that the Secretary determines can assist economic development activities in capacity-constrained communities.
(c)
Maintenance—
(1)
In general— The Secretary shall, as appropriate, maintain the Clearinghouse established under subsection (a).
(2)
Periodic updates— In maintaining the Clearinghouse, the Secretary shall, not less than once per calendar year and as often as is necessary to reflect up-to-date information, update the Clearinghouse to address changes to available resources and changes to the needs of capacity-constrained communities, as determined appropriate by the Secretary.
(d)
Consultation— In establishing and maintaining the Clearinghouse, the Secretary shall consult with such Federal agencies as considered appropriate by the Secretary.
(e)
Report to Congress— Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Secretary shall submit to Congress, and make publicly available, a report on—
(1)
the availability of resources for capacity-constrained communities;
(2)
efforts to publicize the Clearinghouse for capacity-constrained communities and the results of those efforts; and
(3)
recommendations on policy action to coordinate and facilitate strategic economic development, regional planning, capacity building, and technical assistance in capacity-constrained communities.