Pennsylvania SB 1258: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in sales and use tax, further providing for exclusions from tax.

Bill Text

PRINTER'S NO. 1560
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 1258
Session of
2026
INTRODUCED BY COMITTA, FONTANA, J. WARD, COSTA, KANE, MASTRIANO
AND SCHWANK, APRIL 1, 2026
REFERRED TO FINANCE, APRIL 1, 2026
AN ACT
Amending Title 12 (Commerce and Trade) of the Pennsylvania
Consolidated Statutes, in small business first, further
providing for capital development loans.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 2306(c)(1)(i) of Title 12 of the
Pennsylvania Consolidated Statutes is amended to read:
§ 2306. Capital development loans.
* * *
(c) Authority review.--
(1) Within 30 days of receiving a recommendation and a
completed application, the authority shall review the
application. If the authority is satisfied that all
requirements have been met, the authority may approve the
loan request in accordance with the following:
(i) A loan for land, buildings and machinery and
equipment may not exceed [$400,000] $2,000,000 or 50% of
the total capital development project costs, whichever is
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less. For the purposes of this subparagraph, capital
development project costs incurred during the 12-month
period prior to the date of submission of the application
to the authority shall be considered part of the total
capital development project costs.
* * *
Section 2. This act shall take effect in 60 days.
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