House Commerce Committee advances Conklin’s legislation
Bill would fund Minority Business Development Program
Rep. Scott Conklin April 16, 2024 | 12:35 PM
HARRISBURG, April 16 – Today, the PA House Commerce Committee reported to the full House legislation introduced by state Rep. Scott Conklin, D-Centre, to provide funding for minority businesses in Pennsylvania.
House Bill 2202 would establish the Minority Business Development Program to provide low-interest loans or equity financing for minority businesses, allocating funding ranging from $3 million for one or more projects to a maximum of $5 million for up to three projects.
“As chair of the House Commerce Committee, I believe we must fund minority businesses to ensure marginalized Pennsylvanians have the ability to start their business in our commonwealth,” Conklin said. “With more than 1.15% of businesses owned by minorities in 2020, we need to make the economy more equitable for Pennsylvania’s entrepreneurs by allowing minority businesses to prosper in our economy and remain competitive in our marketplace. By advancing this legislation to the House, we will invest in Pennsylvania’s businesses, ensuring that we keep Pennsylvania open for business.”
The House Commerce Committee approved Conklin’s bill 19-6.
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