PA HB1574

Establishes the Redevelopment Authority Startup Loan Program within the Department of Community and Economic Development to provide loans up to $500,000 to qualified redevelopment authorities and land banks

Loans may be used for purchasing, redeveloping, or remediating residential and commercial properties, with up to 5% allowed for administrative expenses

Loan terms cannot exceed 10 years with a maximum interest rate of 2% per year, and the department may require collateral to protect the Commonwealth's interests

Creates the Redevelopment Authority Startup Fund as a revolving loan fund in the State Treasury, with repaid principal returning to the fund for future loans

Application period begins 60 days after money is transferred to the fund and ends when all appropriated funds are awarded or January 1, 2028, whichever comes first