Capacity Building for Business Districts Pilot Program Act of 2024

This bill establishes a pilot program to provide grants for technical assistance and capacity building to local business districts in underserved communities. It directs the Economic Development Administration to award competitive grants to intermediary organizations (called "specified recipients"), which then distribute funds to local business district organizations ("eligible subrecipients") in low-income, rural, minority, and Native communities. The program requires grantees to report annually on job creation, fund usage, and geographic impact, with priority given to distressed communities and organizations serving multiple regions. The pilot will run for at least two years, focusing on revitalizing commercial corridors and supporting small businesses through targeted technical support.