The state Senate Community, Economic and Recreational Development Committee recently advanced two pieces of bipartisan legislation.
Senate Bill 830 would establish a guaranteed loan program for veteran-owned businesses. Loans would be guaranteed for up to $250,000 and would be authorized out of a $5 million allotment designated for the new veteran-owned business endeavor.
“There are more than 700,000 veterans residing in Pennsylvania, and this legislation represents an opportunity for the General Assembly to thank those American heroes for their service,” state Sen. John Yudichak (I-Carbon County), committee chairman, said. “I can think of no better way to honor our veterans than by helping them launch a prosperous and productive civilian life.”
Senate Bill 635 would update an existing property-assessed clean energy program to include new provisions.
The Property-Assessed Clean Energy Program (C-PACE) was enacted in 2018. It originally enabled property owners to take advantage of long-term financing and private capital for commercial and industrial properties, water conservation and clean energy for agricultural, and to implement energy efficiency.
Updates would include eligibility for indoor air upgrades, resiliency improvements, and
multifamily commercial buildings.
“Nationwide, C-PACE programs have led to over $2 billion in investments, more than 2,500 commercial projects, and 24,000 new jobs,” Yudichak said.
The bills move to the full Senate for consideration.