New Legislation Helps Drive the National Cooperative Movement | PR Newswire

WASHINGTON, June 20, 2013 /PRNewswire-USNewswire/ — The chief Congressional champion for the national cooperative movement, Congressman Chaka Fattah (D-PA), has introduced H.R. 2437, the Creating Jobs Through Cooperatives Act.

The legislation authorizes $25 million per year through 2017 to create the National Cooperative Development Program within the US Department of Housing and Urban Development. This program will provide assistance in a number of ways including:

  • awarding grants to nonprofit organizations, colleges and universities for technical assistance to cooperatives or groups seeking to form co-ops;
  • providing guidance, best practices and technical assistance to communities seeking to establish cooperatives;
  • creating a revolving loan fund to provide seed capital to groups attempting to form cooperatives; and
  • provide funding to train providers with technical assistance and support existing professional development for organizations engaged in cooperative development.

Read the whole press release at PR Newswire.

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