Pennsylvania legislation · 2025-2026 Regular Session
Pennsylvania SB1040: An Act authorizing the State Treasurer to waive interest on budgetary impasse investment loans.
Status: Passed one chamber, October 8, 2025
What the bill says
From the introduced text, October 3, 2025:
PRINTER'S NO. 1208 THE GENERAL ASSEMBLY OF PENNSYLVANIA SENATE BILL No. Session of INTRODUCED BY K. WARD, PITTMAN AND MARTIN, OCTOBER 3, 2025 REFERRED TO APPROPRIATIONS, OCTOBER 3, 2025 Authorizing the State Treasurer to waive interest on budgetary impasse investment loans. The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows: Section 1. Short title. This act shall be known and may be cited as the Budgetary Impasse Investment Loan Act. Section 2. Definitions. The following words and phrases when used in this act shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Budgetary impasse." Any of the following: (1) The period beginning July 1, 2025, and ending on the effective date of a General Appropriation Act for the 2025- 2026 fiscal year. (2) The period beginning July 1, 2026, and ending on the effective date of a General Appropriation Act for the 2026- 2027 fiscal year. "Budgetary impasse investment loan." An investment loan entered into or otherwise authorized by the State Treasurer, pursuant to section 301.1 of the Fiscal Code, during a budgetary impasse, the purpose of which is to provide short-term funding support to a loan recipient in anticipation of the receipt of State appropriation payments subsequent to the enactment of the General Appropriation Act for the 2025-2026 fiscal …
Sponsors
- Kim Ward (R, 39) · primary sponsor
- Joe Pittman (R, 41)
- Scott Martin (R, 13)
- Wayne Langerholc (R, 35)
Latest actions
- : Referred to APPROPRIATIONS, Oct. 8, 2025
- : In the House
- : (Remarks see Senate Journal Page 877-882), Oct. 8, 2025
- : Third consideration and final passage, Oct. 8, 2025 (29-20)
- : (Remarks see Senate Journal Page 869), Oct. 7, 2025
- : Second consideration, Oct. 7, 2025 (27-21)
- : First consideration, Oct. 6, 2025
- : Reported as committed, Oct. 6, 2025
- : Referred to APPROPRIATIONS, Oct. 3, 2025
Votes
- Third consideration and final passage, Oct. 8, 2025 (29-20) (October 8, 2025): 29 yea, 20 nay, passed
- Second consideration, Oct. 7, 2025 (27-21) (October 7, 2025): 27 yea, 21 nay, passed
- Senate Appropriations: Reported as Committed (October 6, 2025): 14 yea, 6 nay, passed
Subjects: APPROPRIATIONS
Common questions
- What is SB1040?
- SB1040 is a bill in the Pennsylvania Legislature (2025-2026 Regular Session): An Act authorizing the State Treasurer to waive interest on budgetary impasse investment loans.
- What is the status of SB1040?
- Passed one chamber as of October 8, 2025. Latest action: Referred to APPROPRIATIONS, Oct. 8, 2025 (October 8, 2025).
- Who sponsored SB1040?
- Kim Ward (R, 39), with 3 co-sponsors.
- Where is the official record for SB1040?
- On the Pennsylvania Legislature website: https://www.palegis.us/legislation/bills/2025/sb1040
Source: official Pennsylvania record. Tracked by Delilah, AI for legislation across all 50 states and Congress.