Bill Information

An Act amending the act of July 2, 1984 (P.L.555, No.111), known as the Small Business Incubators Act, defining "applicant"; further defining "local sponsor" or "sponsor" and "seed capital fund"; further providing for creation of program, for incubator grants, loans and loan guarantees and for responsibilities of local sponsors; repealing provisions relating to challenge grants for seed capital funds; further providing for general powers and duties of the board and for indicators of program impact; providing for funding; and repealing provisions relating to time limit on approvals.