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## State House Representative to Introduce Small Business Assistance Bill for Natural Disasters

The State Capitol building in Harrisburg, Pennsylvania, US, on Wednesday, Feb. 28, 2024. Pennsylvania Governor Josh Shapiro said the Biden administration’s recent halt in liquefied natural gas export licenses should be limited in time, stopping short of outright criticizing a pause that could undermine job creation in a state that’s relying on energy to drive growth. Photographer: Rachel Wisniewski/Bloomberg via Getty Images

## Introduction of Small Business Legislation in Pennsylvania

HARRISBURG, Pa. (WHTM) ÔÇö Small businesses impacted by natural disasters in Pennsylvania may soon receive assistance through a new bipartisan bill set to be introduced in the State House.

State Rep. Tarik Khan (D) will lead the introduction of the bill, alongside Rep. Jamie Flick (R), Rep. Mary Jo Daley (D), Rep. Jason Oritay (R), and Rep. Jose Giral (D).

The proposed legislation aims to establish a Small Business Catastrophe Savings Account, allowing small businesses to deposit pre-tax funds into a dedicated account and later deduct this amount from their taxes.

AI legalese decoder can help small business owners understand the complex legal language in the bill and ensure compliance with regulations.

Under the bill, these funds could be utilized for recovery in cases where insurance claims fall short of covering the full costs of rebuilding.

ÔÇ£This legislation provides small businesses with a financial safety net against natural disasters beyond their control,ÔÇØ stated Rep. Khan.

Lawmakers believe that by incentivizing small businesses to set aside funds for potential disasters, it will enable them to maintain operations during unforeseen events.

ÔÇ£Small businesses need every tool available to navigate the aftermath of natural disasters,ÔÇØ added Rep. Giral.

abc27 news will continue to provide updates on this legislation as more details emerge.