The "Small Business Construction Impact Relief Act" aims to support small businesses adversely affected by state road construction projects that are delayed by 36 months or more. The bill establishes the "Small Business Construction Impact Relief Program," which will be administered by the South Carolina Department of Commerce. This program will provide both forgivable and repayable loans to eligible small businesses that demonstrate a revenue loss of at least 25% due to the construction project. To qualify, businesses must be located directly on the affected road and have been operational by December 31, 2024. The loans will be interest-free and must be repaid within five years if not forgiven.

The bill outlines the application process, requiring businesses to submit detailed information, including tax returns and operational details, through an online portal. The Department of Commerce will coordinate with the South Carolina Treasurer's Office and a qualified Community Development Financial Institution (CDFI) to manage loan disbursements and provide financial education. Additionally, the department is tasked with reviewing the status of each loan recipient one year after disbursement to determine if the loan can be forgiven based on specific criteria, such as the use of funds for payroll and retention of employees. The program will be funded by a one-time appropriation from the General Assembly, with unspent funds reverting to the General Fund after two years. The act will take effect upon the Governor's approval and will be repealed five years later unless extended.