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 have started operations by December 31, 2024, be located directly on a qualified construction project, and submit a complete application to the department.

The bill outlines specific requirements for loan eligibility, application processes, and conditions for loan forgiveness. Eligible businesses must utilize at least 60% of the loan for payroll, rent, or utilities and retain or rehire 75% of their pre-construction workforce within a year of receiving the loan. The Department of Commerce is tasked with maintaining an online application portal and coordinating with the South Carolina Treasurer's Office and a qualified Community Development Financial Institution (CDFI) for loan disbursement and support. The program will be funded by a one-time appropriation from the General Assembly, with any 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 The act will take effect upon the Governor's approval and will be repealed five years later unless extended.