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Pennsylvania State Senate
04/18/2024 11:16 PM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20130&cosponId=12463
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Senate of Pennsylvania
Session of 2013 - 2014 Regular Session

MEMORANDUM

Posted: April 11, 2013 10:46 AM
From: Senator Kim L. Ward
To: All Senate members
Subject: Senate Bill – Amending Titles 12 (Commerce and Trade) and 64 (Public Authorities and Quasi Public Corporations) of the Pennsylvania Consolidated Statutes, providing for the Pennsylvania Business Development Authority (PBDA) for the purpose of consolidating existing business financing (loan) programs, imposing duties on the Department of Community and Economic Development (DCED) and making related repeals.
 
I will be introducing legislation that would establish a flexible business financing authority to be known as the Pennsylvania Business Development Authority (PBDA), which would create a simplified, one-stop-shop for job creators seeking capital to grow their businesses in Pennsylvania. The PBDA would be able to pledge its unencumbered assets as security to leverage additional private funds. This legislation would consolidate eight existing business financing (loan) programs [see below for a listing], currently governed by four different entities (e.g., Commonwealth Finance Authority (CFA), Pennsylvania Industrial Development Authority (PIDA), Pennsylvania Minority Business Development Authority (PMBDA), and the Department of Community and Economic Development (DCED) under one authority (PBDA) and board oversight. The consolidation also imposes related duties and responsibilities on the Department of Community and Economic Development (DCED) and makes necessary related repeals of prior law. For more details see attached DCED brochure (3/11/13) titled, “The Importance of The PA Business Development Authority.” [Attachment]

Consolidation and Elimination of Existing Business Financial (loan) Programs

The PBDA will provide guidance, counsel, oversight and maintenance of all lending activities currently held within the following financial (loan) programs being consolidated:


{Consolidates}
  • Small Business First (SBF) Program [small business] – {currently administered by DCED}
  • Community Economic Development (CED) Program [small business] – {currently administered by DCED}
  • Export Financing (EF) Program – {currently administered by DCED}
  • PA Industrial Development Authority (PIDA) Program (revolving fund) – {currently administered by PIDA}
  • PA Minority Business Development Authority (PMBDA) Program [being renamed the Disadvantaged Business Development (DBD) Program] – {currently administered by PMBDA}
  • Machinery and Equipment Loan (MELF) Program – {currently administered by DCED}
  • First Industries (FI) Program – {currently administered by CFA}
  • Second Stage Loan Guarantee (SSLG) Program – {currently administered by CFA}

{Eliminates}
  • Pollution Prevention Assistance (Pollution Prevention Assistance Account) [Act June 29, 1996 (P.L. 434, No. 67), known as the Job Enhancement Act] (A little used program that has been further marginalized by the prior establishment of the Alternative and Clean Energy Program) – {currently administered by DCED}

This legislation is encompassed within the Governor’s Executive Budget (FY 2013-14) proposals and is similar to prior session 2011-12, Senate Bill 1257, Printer’s No. 2048 (Earll) that was previously reported out of the Senate Committee on Community, Economic and Recreational Development (CERD).

If you have any questions, please contact Jason R. Brehouse, Esq. at 717-787-6063 or jbrehouse@pasen.gov.

View Attachment

Introduced as SB525