SB 323 Pennsylvania Senate · 2025-2026 Regular Session

An Act amending Title 64 (Public Authorities and Quasi-Public Corporations) of the Pennsylvania Consolidated Statutes, in economic development financing, providing for Keystone National Finance Authority.

Senate Bill 323 creates the Keystone National Finance Authority, a new public entity intended to promote economic development and job creation across Pennsylvania and the United States. This authority aims to provide additional financing for a wide range of projects, including industrial, commercial, and agricultural activities, as well as infrastructure, transportation, energy, and housing developments. It is designed to issue bonds and engage in conduit financing to fund these projects, supporting community revitalization and business opportunities. The authority is intended to serve as a public instrumentality of the Commonwealth, complementing existing agencies.
Bill status passed 3 of 5 stages cleared
Introduction
Feb 2025
Committee Review
Apr 2026
Senate Passage
Apr 2026
House Passage
Governor
Introduced Feb 26, 2025 Last action Apr 23, 2026
Maddy AI version diff · 1 comparison

What changed between versions

Printer's No. PN0254 Printer's No. PN1620 · 4 edits
MODERATE
The bill text was updated from an early draft (Printer's No. 254) to a later version (Printer's No. 1620) that includes new sponsors and a re-reporting status indicating amendments. Substantive changes include adding 'revitalization' to the bill's economic goals, expanding the definition of a 'Project' to include working capital and revenue streams, and increasing the initial term for a specific board member from 8 to 10 years.
Scope change
The bill's scope was expanded to include 'revitalization' of economic activities and 'working capital programs' as eligible projects, broadening the authority's operational capabilities.
DEFINITION

The definition of 'Project' was expanded to explicitly include working capital programs and various revenue streams, not just capital improvements.

REQUIREMENT

The word 'revitalization' was added to the list of economic activities the authority is intended to promote.

The initial term for one board member appointed by fellow board members was increased from 8 years to 10 years.

TECHNICAL

New sponsors (Costa and Picozzi) and a re-reporting status by Senator Martin were added to the header, reflecting legislative history.

Floor votes · Senate Apr 21, 2026

How they voted

408
Passed · 2 other
Total votes 50
Apr 21, 2026
D Democratic23
20 Yea 2 Nay 1
86% Yea
R Republican27
20 Yea 6 Nay 1
74% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
8
Key actions
3
Committee
4
Amendments
1
Apr 23, 2026
Committee
Referred to Finance
lower
Apr 21, 2026
Upper · Passed
Third consideration and final passage
upper
Apr 20, 2026
Upper · Passed
Re-reported as amended
upper
May 7, 2025
Committee
Re-referred to Appropriations
upper
Apr 1, 2025
Upper · Passed
Reported as committed
upper
Feb 26, 2025
Committee
Referred to Finance
upper
1 primary · 6 co-sponsors

Sponsors