The main purpose of this legislation is to reauthorize grants that support the development of rural cooperatives. These cooperatives are businesses owned and operated by a group of individuals for their mutual benefit, often in rural areas. The goal is to enhance economic opportunities and improve the quality of life in these communities. Key provisions of the legislation include a clearer definition of "cooperative development," which encompasses activities such as outreach, education, training, and technical assistance aimed at helping new and existing cooperatives thrive.