Pennsylvania HB 1574: An Act amending the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, establishing the Redevelopment Authority Startup Loan Program and the Redevelopment Authority Startup Fund.

Bill Text

PRINTER'S NO. 1862
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 1574
Session of
2025
INTRODUCED BY T. DAVIS, HOGAN, GIRAL, HILL-EVANS, KHAN, POWELL,
D. WILLIAMS, SANCHEZ, MAYES, MALAGARI AND NEILSON,
JUNE 6, 2025
REFERRED TO COMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT,
JUNE 9, 2025
AN ACT
Amending the act of April 9, 1929 (P.L.343, No.176), entitled
"An act relating to the finances of the State government;
providing for cancer control, prevention and research, for
ambulatory surgical center data collection, for the Joint
Underwriting Association, for entertainment business
financial management firms, for private dam financial
assurance and for reinstatement of item vetoes; providing for
the settlement, assessment, collection, and lien of taxes,
bonus, and all other accounts due the Commonwealth, the
collection and recovery of fees and other money or property
due or belonging to the Commonwealth, or any agency thereof,
including escheated property and the proceeds of its sale,
the custody and disbursement or other disposition of funds
and securities belonging to or in the possession of the
Commonwealth, and the settlement of claims against the
Commonwealth, the resettlement of accounts and appeals to the
courts, refunds of moneys erroneously paid to the
Commonwealth, auditing the accounts of the Commonwealth and
all agencies thereof, of all public officers collecting
moneys payable to the Commonwealth, or any agency thereof,
and all receipts of appropriations from the Commonwealth,
authorizing the Commonwealth to issue tax anticipation notes
to defray current expenses, implementing the provisions of
section 7(a) of Article VIII of the Constitution of
Pennsylvania authorizing and restricting the incurring of
certain debt and imposing penalties; affecting every
department, board, commission, and officer of the State
government, every political subdivision of the State, and
certain officers of such subdivisions, every person,
association, and corporation required to pay, assess, or
collect taxes, or to make returns or reports under the laws
imposing taxes for State purposes, or to pay license fees or
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other moneys to the Commonwealth, or any agency thereof,
every State depository and every debtor or creditor of the
Commonwealth," establishing the Redevelopment Authority
Startup Loan Program and the Redevelopment Authority Startup
Fund.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of April 9, 1929 (P.L.343, No.176), known
as The Fiscal Code, is amended by adding an article to read:
ARTICLE XVI-Z.1
REDEVELOPMENT AUTHORITY STARTUP LOAN PROGRAM
Section 1601-Z.1. Definitions.
The following words and phrases when used in this article
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Department." The Department of Community and Economic
Development of the Commonwealth.
"Fund." The Redevelopment Authority Startup Fund established
in this article.
"Qualified land bank." A public body and a body corporate
and politic established under 68 Pa.C.S. Ch. 21 (relating to
land banks).
"Qualified redevelopment authority." A public body and body
corporate and politic created and organized in accordance with
the provisions of the act of May 24, 1945 (P.L.991, No.385),
known as the Urban Redevelopment Law, and established in a
qualified county.
"Startup loan." A loan issued to a qualified redevelopment
authority or a qualified land bank from the fund.
Section 1602-Z.1. (Reserved).
Section 1603-Z.1. Redevelopment Authority Startup Loan Program.
The Redevelopment Authority Startup Loan Program is
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established in the department.
Section 1604-Z.1. Application and approval process.
(a) Application.--A qualified redevelopment authority or a
qualified land bank may apply to the department for a startup
loan as provided under this article. An application made under
this subsection must be submitted in a form and manner required
by the department.
(b) Application period.--A qualified redevelopment authority
or a qualified land bank may submit an application to the
department for a startup loan beginning 60 days after a transfer
of money to the fund as appropriated by the General Assembly
until the earlier of the following:
(1) the date on which all money appropriated by the
General Assembly to the fund has been awarded as startup
loans; or
(2) January 1, 2028.
(c) Review.--When reviewing applications for startup loans,
the department:
(1) Shall provide a startup loan from the fund to at
least one qualified redevelopment authority located in a
county of each classification, if a county of that
classification has applied and the county is in compliance
with all requirements established by the department.
(2) Shall give priority to