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PA SB671
PA SB671In Community Development Bank Grant and Loan Program, further providing for definitions and providing for financial assistance to air ambulance crash impacted businesses.
summary
Introduced
04/30/2025
04/30/2025
In Committee
04/30/2025
04/30/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
Amending the act of June 29, 1996 (P.L.434, No.67), entitled "An act to enhance job creation and economic development by providing for an annual financing strategy, for opportunity grants, for job creation tax credits, for small business assistance, for the Small Business Advocacy Council, for a family savings program, for industrial development assistance, for community development bank grants and loans and for tax-exempt bond allocation; conferring powers and duties on various administrative agencies and authorities; further providing for various funds; and making repeals," in Community Development Bank Grant and Loan Program, further providing for definitions and providing for financial assistance to air ambulance crash impacted businesses.
AI Summary
This bill amends the Job Enhancement Act to create a specialized grant and loan program specifically for businesses impacted by an air ambulance crash that occurred in Philadelphia on January 31, 2025. The bill establishes two main financial assistance mechanisms: a grant program that provides technical assistance, training, and support to affected businesses through eligible institutions or nonprofits, and a loan program that allows eligible institutions to provide funding to impacted businesses. Additionally, the bill requires the authority administering these programs to submit a detailed report within 180 days of implementation, documenting the funds allocated, participating nonprofits, and the number of grants and loans disbursed. The bill also mandates that the Joint State Government Commission conduct a comprehensive study on providing grants to small businesses during emergency situations, which will examine economic recovery approaches from other states and identify best practices for small business redevelopment after an emergency. Importantly, the bill includes a sunset provision that prevents the authority from awarding grants or loans more than five years after the section's effective date, ensuring the program remains temporary and targeted to the specific air ambulance crash incident.
Committee Categories
Business and Industry
Sponsors (8)
Joseph Picozzi (R)*,
Dave Argall (R),
Carolyn Comitta (D),
Jay Costa (D),
Doug Mastriano (R),
Nikil Saval (D),
Pat Stefano (R),
Tina Tartaglione (D),
Last Action
Referred to Community, Economic & Recreational Development (on 04/30/2025)
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