H2369B3493A05107 NAD:JSL 04/20/20 #90 A05107
AMENDMENTS TO HOUSE BILL NO. 2369
Sponsor: REPRESENTATIVE M. K. KELLER
Printer's No. 3493
Amend Bill, page 1, lines 1 through 12, by striking out all
of said lines and inserting
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 COVID-19 grant
and loan programs.
Amend Bill, page 1, lines 15 through 21; pages 2 and 3, lines
1 through 30; page 4, lines 1 through 6; by striking out all of
said lines on said pages and inserting
Section 1. Section 2501 of the act of June 29, 1996
(P.L.434, No.67), known as the Job Enhancement Act, is amended
by adding a definition to read:
Section 2501. Definitions.
The following words and phrases when used in this chapter
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
* * *
"COVID-19 impacted business." A business materially impacted
by the novel coronavirus known as COVID-19 identified in the
proclamation of disaster emergency issued by the Governor on
March 6, 2020, published at 50 PA.B. 1644 (March 21,2020), and
any renewal of the state of disaster emergency.
* * *
Section 2. The act is amended by adding a section to read:
Section 2512. COVID-19 grant and loan programs.
(a) COVID-19 grant program.--From money appropriated to or
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otherwise available to the authority for grants under this
subsection, the authority shall make money available to
community development financial institutions to make grants to
COVID-19 impacted businesses. Grants under this subsection shall
be used to provide technical assistance, training or other
support.
(b) COVID-19 loan program.--From money appropriated to or
otherwise available to the authority for loans under this
subsection, the authority shall make money available to
community development financial institutions to make loans to
COVID-19 impacted businesses.
(c) Report.--The authority shall prepare, in consultation
with the committee, a report to the chairperson and minority
chairperson of the Appropriations Committee of the Senate and
the chairperson and minority chairperson of the Appropriations
Committee of the House of Representatives. The report shall
include the amount of money appropriated to the COVID-19 grant
and loan programs under this section, the name and location of
community development financial institutions accredited by the
department and the number of grants and loans disbursed to
COVID-19 impacted businesses.
(d) Prohibition on issuance.--No grants or loans may be
issued under this section 15 years after the effective date of
this section.
Section 3. This act shall take effect immediately.
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