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Increased Support for Small Tech Businesses in Underfunded States.

This law modifies the Federal and State Technology (FAST) program, focusing support on states that historically received the fewest federal innovation grants. It prioritizes applications from these states, offering them additional financial aid and the potential to waive local matching requirements. The goal is to boost the chances of small entrepreneurs securing funds for new technology development.
Key points
Priority for 18 States: Small businesses located in the 18 states receiving the fewest innovation grants will be given priority status when applying for support.
Lower Costs for Businesses: The required local matching contribution for technology grants is lowered (from 50% to 25% or 75% to 50%), and for businesses in priority states, this requirement may be completely waived.
Increased Program Funding: Funding for the FAST program is doubled from $10 million annually to $20 million every two fiscal years (through 2027), making more resources available for innovative small businesses.
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Additional Information
Print number: 118_S_1003
Sponsor: Sen. Risch, James E. [R-ID]
Process start date: 2023-03-28
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

FAST Fix Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1003.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-28.

What are the main provisions?

Key points include:

  • Priority for 18 States: Small businesses located in the 18 states receiving the fewest innovation grants will be given priority status when applying for support.
  • Lower Costs for Businesses: The required local matching contribution for technology grants is lowered (from 50% to 25% or 75% to 50%), and for businesses in priority states, this requirement may be completely waived.
  • Increased Program Funding: Funding for the FAST program is doubled from $10 million annually to $20 million every two fiscal years (through 2027), making more resources available for innovative small businesses.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Risch, James E. [R-ID].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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