SB 1258

                                                      PRINTER'S NO.    1560
                  THE GENERAL ASSEMBLY OF PENNSYLVANIA
                        SENATE BILL
                        No. 1258
                                                Session of
                                                  2026
 INTRODUCED BY COMITTA, FONTANA, J. WARD, COSTA, KANE, MASTRIANO
    AND SCHWANK, APRIL 1, 2026
 REFERRED TO FINANCE, APRIL 1, 2026
                                     AN ACT
1 Amending Title 12 (Commerce and Trade) of the Pennsylvania
2    Consolidated Statutes, in small business first, further
3    providing for capital development loans.
4    The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6    Section 1.  Section 2306(c)(1)(i) of Title 12 of the
7 Pennsylvania Consolidated Statutes is amended to read:
8 § 2306.    Capital development loans.
9    * * *
10    (c)    Authority review.--
11(1)   Within 30 days of receiving a recommendation and a
12    completed application, the authority shall review the
13    application. If the authority is satisfied that all
14    requirements have been met, the authority may approve the
15    loan request in accordance with the following:
16(i)    A loan for land, buildings and machinery and
17equipment may not exceed [$400,000] $2,000,000 or 50% of
18the total capital development project costs, whichever is
1less. For the purposes of this subparagraph, capital
2development project costs incurred during the 12-month
3period prior to the date of submission of the application
4to the authority shall be considered part of the total
5capital development project costs.
6* * *
7   Section 2.    This act shall take effect in 60 days.
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