SC H4467

Establishes the "Small Business Construction Impact Relief Program" administered by the Department of Commerce to provide forgivable and repayable loans to small businesses impacted by state road construction projects delayed 36 months or more beyond original completion dates

Eligible businesses must have no more than 100 full-time employees, be located directly on a qualified construction project road, have begun operations by December 31, 2024, and demonstrate at least 25% revenue loss during the construction period

Loans are forgiven if the business uses at least 60% of funds for payroll, rent, or utilities within 12 months, retains 75% of pre-construction employees, and complies with all tax obligations; otherwise, loans must be repaid over 5 years with zero interest

Requires the State Treasurer's Office to work with a South Carolina-based Community Development Financial Institution (CDFI) to handle underwriting, financial literacy education, and compliance support, with CDFI fees capped at 2% of the loan amount

Department of Commerce must submit annual reports to the Governor and General Assembly on loans awarded, funds disbursed, and economic impact; program funded by one-time appropriation and automatically repeals after 5 years unless extended