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.
Summary
SB62 amends Pennsylvania’s Fiscal Code to create the Redevelopment Authority Startup Loan Program and the Redevelopment Authority Startup Fund. Based on the bill caption and legislative history provided, the measure is intended to establish a state-backed financing mechanism to help redevelopment authorities with startup costs, likely supporting local economic development, community revitalization, and related public-purpose projects.
The bill would add new statutory provisions to the Fiscal Code governing the creation, administration, and funding of the loan program and fund. In practical terms, it would authorize a dedicated state program for redevelopment authorities to access startup loans, and it would likely set out the terms, oversight, and eligible uses for those funds. The measure therefore affects state fiscal law and the operations of redevelopment authorities, which are local or regional entities involved in redevelopment and economic development activities.
Impact
SB62 would modify the Fiscal Code by creating a new state program and fund tied to redevelopment authority financing. Its impact would be to provide a statutory basis for state-administered startup lending support, potentially changing how redevelopment authorities obtain initial capital and how the Commonwealth allocates or manages related funds. The bill would primarily affect redevelopment authorities, state fiscal administrators, and communities seeking redevelopment and economic development assistance.
Sentiment
The available voting record shows strong support in the Senate Urban Affairs and Housing Committee, with unanimous 11-0 votes to adopt the amendment and report the bill as amended. That suggests the bill was broadly viewed favorably by committee members and did not face visible opposition at that stage. The later re-referral to Appropriations indicates the bill advanced procedurally and was being reviewed for fiscal implications rather than rejected on policy grounds.
Contention
No committee transcript is available, and the recorded votes show no dissent, so there is little evidence of direct controversy in the materials provided. The main likely point of scrutiny is fiscal: because the bill creates a new loan program and fund within the Fiscal Code, Appropriations review would typically focus on funding sources, budget exposure, repayment structure, and whether the program creates ongoing state liabilities. Any concerns would likely center on cost, administration, and the effectiveness of using state-backed loans to support redevelopment authorities.
In additional special funds and restricted accounts, establishing the Survivor-Centered, Accessible, Fair and Empowering Housing Trust Fund; and making an interfund transfer.
Providing for the Waterfront Redevelopment Grant Program; establishing the Waterfront Redevelopment Fund; and imposing powers and duties on the Department of Community and Economic Development.
Providing for the redevelopment of older buildings; and establishing the Older Building Redevelopment Assistance Grant Program and the Older Building Redevelopment Fund.
A BILL to direct the Department of Housing and Community Development to establish a work group to examine the future of redevelopment and housing authorities in the Commonwealth; report.