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 Pennsylvania Strategic Investments to Enhance Sites (PA SITES) Program to help fund the development of regional plans and business sites within the state. It authorizes the Pennsylvania Economic Development Financing Authority to issue up to $500 million in bonds to support projects that reduce development risks for municipalities, economic development organizations, and other eligible entities. The funds can be used for creating comprehensive real estate plans, preparing industrial or nonindustrial sites for business relocation or expansion, and other projects deemed eligible by the Department of Community and Economic Development. All bond payments must be covered by specific pledged revenues rather than general state funds, ensuring the bonds do not create a direct debt obligation for the Commonwealth.