1. Short title This Act may be cited as the Care is an Economic Development Strategy Act or the CEDS Act . 2. Comprehensive economic development strategies (a) In general Section 302(a)(3)(A) of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3162(a)(3)(A) ) is amended— (1) by striking and before balances resources ; and (2) by inserting , and directly or indirectly increases the accessibility of affordable, quality care-based services, including child care, early childhood education, disability and long-term care, and elder care after sound management of development . (b) Guidance (1) In general Not later than 1 year after the date of enactment of this Act, the Secretary of Commerce shall issue guidance on implementing the amendments made by subsection (a), to include how to increase access to the affordable, quality care-based services described in section 302(a)(3)(A) of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3162(a)(3)(A) ) in a comprehensive economic development strategy developed under section 302 of such Act. (2) Existing comprehensive economic development strategies In issuing the guidance under paragraph (1), with respect to a grant recipient whose comprehensive economic development strategy has been approved under section 302 of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3162 ) before the date of enactment of this Act, the Secretary shall ensure that such grant recipient is only required to update such comprehensive economic development strategy to comply with the amendments made by this Act when a regularly scheduled update to such comprehensive economic development strategy is required.