AN ACT ESTABLISHING A REVOLVING LOAN FUND TO ASSIST IN DEVELOPING COMMERCIAL STOREFRONTS.

HB 6785 establishes a state-funded revolving loan program within the Department of Economic and Community Development to help small businesses and property owners develop commercial storefronts. The fund will provide low-cost loans distributed through local municipalities and nonprofit organizations, with repaid funds being reused to support additional storefront projects. This program directly assists businesses seeking to renovate or build storefronts in commercial districts, particularly in underserved areas. The bill creates a self-sustaining mechanism where loan repayments replenish the fund, enabling ongoing support without requiring new annual appropriations.