Vote Smart's Synopsis:

Vote to pass a bill that authorizes Treasurer Stacy Garrity to waive interest, costs, and fees on loans administered through her short-term loan program, designed to aid entities affected by the lack of state funding in Pennsylvania.

Highlights:

• Specifies that a budgetary impasse occurs when no General Appropriation Act has been enacted for the 2025-2026 or 2026-2027 fiscal years (Sec. 2).

• Authorizes a budgetary impasse investment loan granted by the State Treasurer to provide funding during such impasse (Sec. 2).

• Establishes eligible loan recipients (Sec. 2) :

• County Governments;

• Domestic Violence Entities;

• Head Start Agencies;

• Rape Crisis Entities; and

• Approved providers under the Pennsylvania Pre-K Counts Program.

• Authorizes the State Treasurer to waive or forgo interest, costs, or fees on investment loans (Sec. 3).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the Governor (Sec. 3).

Full Bill Text