PRINTER'S NO. 625
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
593
Session of
2017
INTRODUCED BY THOMAS, DRISCOLL, LONGIETTI AND McNEILL,
FEBRUARY 23, 2017
REFERRED TO COMMITTEE ON COMMERCE, FEBRUARY 23, 2017
AN ACT
Amending Title 64 (Public Authorities and Quasi-Public
Corporations) of the Pennsylvania Consolidated Statutes, in
Commonwealth Financing Authority, further providing for
Second Stage Loan Program.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 1553(a), (d)(2), (e)(1)(ii) and (f) of
Title 64 of the Pennsylvania Consolidated Statutes are amended
and subsection (d) is amended by adding a paragraph to read:
ยง 1553. Second Stage Loan Program.
(a) Establishment.--There is established a program to be
known as the Second Stage Loan Program. The program shall
provide loan guarantees to commercial lending institutions that
make loans to life sciences, advanced technology or
manufacturing businesses located within this Commonwealth.
* * *
(d) Application for guarantee.--A commercial lending
institution enrolled in the program authorized by this section
may submit an application to the authority for the guarantee of
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