An Act providing for the funding of the development of comprehensive regional plans, competitive sites for businesses to locate or expand within this Commonwealth and competitive industrial and nonindustrial sites by assisting in the reduction of development risk; establishing the Pennsylvania Strategic Investments to Enhance Sites (PA SITES) Program, the PA SITES Fund and the PA SITES Debt Service Restricted Account; and conferring powers and duties on the Department of Community and Economic Development Pennsylvania Economic Development Financing Authority.

This bill creates the PA SITES Program to help Pennsylvania municipalities, redevelopment authorities, and other local organizations develop competitive sites for businesses to locate or expand within the state. It authorizes the Pennsylvania Economic Development Financing Authority to issue up to $500 million in bonds to fund regional planning efforts and the redevelopment or revitalization of both industrial and nonindustrial properties. The program is designed to reduce development risks by providing financing for these projects, with repayment covered by specific pledged revenues rather than general state funds.