H2418B3580A05192 DMS:JSL 04/21/20 #90 A05192
AMENDMENTS TO HOUSE BILL NO. 2418
Sponsor: REPRESENTATIVE SCHWEYER
Printer's No. 3580
Amend Bill, page 1, line 21, by inserting after
"determined,""
in organization of independent administrative boards and
commissions, further providing for The Pennsylvania
Industrial Development Authority and additional members; and
Amend Bill, page 1, lines 25 through 27, by striking out all
of said lines and inserting
Section 1. Section 307 of the act of April 9, 1929 (P.L.177,
No.175), known as The Administrative Code of 1929, is amended to
read:
Section 307. The Pennsylvania Industrial Development
Authority[; Additional Members].--(a) In addition to the
members of the board of The Pennsylvania Industrial Development
Authority provided in section 4 of the act of May 17, 1956 (1955
P.L.1609, No.537), known as the "Pennsylvania Industrial
Development Authority Act," the Majority Leader of the Senate,
the Minority Leader of the Senate, the Majority Leader of the
House of Representatives and the Minority Leader of the House of
Representatives shall each appoint one member to the board of
[The Pennsylvania Industrial Development Authority] the
authority. A member appointed pursuant to this section shall
serve at the pleasure of the officer who appointed the member.
Members of the General Assembly shall not be eligible for
appointment to the board.
(b) In addition to the persons eligible for benefits under
the Small Business First Program established under 12 Pa.C.S.
Ch. 23 (relating to small business first), during the effective
period of a disaster emergency declared under 35 Pa.C.S. § 7301
(relating to general authority of Governor), the following shall
be considered a small business and eligible for these benefits:
(1) A not-for-profit enterprise that employs more than five
(5) but fewer than one hundred one (101) individuals and that
provides any of the following services:
(i) health-related services;
(ii) domestic violence or rape crisis programs;
(iii) violence prevention services;
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(iv) counseling services;
(v) shelter for homeless individuals;
(vi) the collection and distribution of food to hunger-
relief charities;
(vii) food, nutrition education and related services to
residents suffering from hunger and food insecurity in the
community served by the enterprise;
(viii) cultural activities;
(ix) adult literacy services; or
(x) community and economic development.
(2) An enterprise that employs fewer than one hundred (100)
individuals and is engaged in research and development. The
authority may not require the enterprise to maintain a minimum
debt service coverage ratio or provide a loan guarantee.
(c) During the effective period of a disaster emergency
declared by the Governor under 35 Pa.C.S. § 7301(c) (relating to
general authority of Governor), the authority may enter into
loan agreements under the Small Business First Program with
eligible applicants as determined by the authority. The
authority may waive or adjust loan requirements and terms,
including applicant eligibility requirements, loan amounts,
interest rates, collateral requirements, repayment periods and
job creation or preservation requirements for small businesses
located in the geographic area specified in the disaster
emergency declaration. The authority may accept applications
directly from eligible applicants for loans and other financial
assistance under the program.
(d) The sum of one hundred million dollars ($100,000,000) is
transferred from the Budget Stabilization Reserve Fund under
section 1701-A of the act of April 9, 1929 (P.L.343, No.176),
known as "The Fiscal Code," to the authority for the Small
Business First Program. Section 1703-A of "The Fiscal Code" does
not apply to this subsection.
(e) As used in this section, "authority" shall mean the
Pennsylvania Industrial Development Authority.
Section 2. The act is amended by adding an article to read:
Amend Bill, page 2, line 15, by striking out "2" and
inserting
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