An Act establishing programs to provide linked deposits for certain enterprises with certain lending institutions.

This bill creates a program called the Linked Deposit Impact Pennsylvania Act to help small, for-profit businesses owned by Pennsylvania residents that employ 100 or fewer people and earn less than $10 million annually. Under the plan, the State Treasurer would place funds with approved local banks, which then agree to lend that same amount to eligible small businesses at a reduced interest rate. The legislation requires banks to follow standard lending practices to check borrower creditworthiness and prohibits them from charging fees for participating in the program. Ultimately, the State Treasurer manages the program by reviewing loan applications and deciding how much money to deposit with each participating bank.