Pennsylvania 2025-2026 Regular Session Status: Passed Senate Bipartisan · 4 D · 3 R cosponsors

SB 323 — 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.

Last action — Referred to Finance

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has passed the Senate. Introduced February 26, 2025. It now moves to the second chamber.

Next likely step: consideration and a floor vote in the House.

Odds of enactment

Moderate chance

Based on the sponsor, cosponsors, and committee posture, this bill has a moderate chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 74% · high confidence

  • Passed Senate

    Current position in the legislative process.

  • 7 sponsors

    1 primary, 6 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (4 D · 3 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 4 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

843 added · 837 removed

Plain-language change summary

The updated version of Bill SB 323 has made a significant change to the wording in the "Findings and declaration of policy" section. The phrase about how existing economic activities could become more competitive and expand has been modified to emphasize that they "could become more competitive and could expand more rapidly" with additional financing options. This change highlights the urgency of access to financing as a key factor for economic growth, which is important for attracting investment and creating jobs.

→
Previous
Latest
PRINTER'S NO.
PRIOR PRINTER'S NO.
254 THE GENERAL ASSEMBLY OF PENNSYLVANIA SENATE BILL Session of No.
254 PRINTER'S NO.
323 2025 INTRODUCED BY ARGALL, STREET, PENNYCUICK, KANE, MILLER AND COSTA, FEBRUARY 26, 2025 REFERRED TO FINANCE, FEBRUARY 26, 2025 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.
1620 THE GENERAL ASSEMBLY OF PENNSYLVANIA SENATE BILL Session of No.
323 2025 INTRODUCED BY ARGALL, STREET, PENNYCUICK, KANE, MILLER, COSTA AND PICOZZI, FEBRUARY 26, 2025 SENATOR MARTIN, APPROPRIATIONS, RE-REPORTED AS AMENDED, APRIL 20, 2026 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.
(3) A minimum level of unemployment and a maximum level of business opportunity can best be provided by the promotion, attraction, stimulation, rehabilitation and 20250SB0323PN0254 - 2 - revitalization of industrial, commercial, technological, tourist, agricultural and other economic activities in this Commonwealth and throughout the United States.
(3) A minimum level of unemployment and a maximum level of business opportunity can best be provided by the 20250SB0323PN1620 - 2 - promotion, attraction, stimulation, rehabilitation and revitalization of industrial, commercial, technological, tourist, agricultural and other economic activities in this Commonwealth and throughout the United States.
(7) It is the policy of this Commonwealth to promote the health, safety, employment, business opportunities, economic activity and general welfare of the people by establishing an authority to exist and operate as a public instrumentality of 20250SB0323PN0254 - 3 - the Commonwealth, which is not intended to compete with any Commonwealth agency or any other authority created under the laws of this Commonwealth.
(7) It is the policy of this Commonwealth to promote the health, safety, employment, business opportunities, economic activity and general welfare of the people by establishing an 20250SB0323PN1620 - 3 - authority to exist and operate as a public instrumentality of the Commonwealth, which is not intended to compete with any Commonwealth agency or any other authority created under the laws of this Commonwealth.
"Cost of the project" or "cost." Any of the following:
20250SB0323PN1620 - 4 - "Cost of the project" or "cost." Any of the following:
20250SB0323PN0254 - 4 - (1) Costs and expenses of acquisition of interests in land, infrastructure, buildings, structures, equipment, furnishings, fixtures and other tangible or intangible property, which comprise the project.
(1) Costs and expenses of acquisition of interests in land, infrastructure, buildings, structures, equipment, furnishings, fixtures and other tangible or intangible property, which comprise the project.
(3) The General Assembly or its officers and agencies.
20250SB0323PN1620 - 5 - (3) The General Assembly or its officers and agencies.
20250SB0323PN0254 - 5 - (4) A political subdivision.
(4) A political subdivision.
"Project." A capital improvement, purchase of receivables, 20250SB0323PN0254 - 6 - property, assets, commodities, bonds or other revenue streams or related assets, working capital program or any activity that promotes economic development or opportunities within any state or territory of the United States.
20250SB0323PN1620 - 6 - "Project." A capital improvement, purchase of receivables, property, assets, commodities, bonds or other revenue streams or related assets, working capital program or any activity that promotes economic development or opportunities within any state or territory of the United States.
The powers of the authority shall be exercised by the board.
The powers of the authority shall be exercised by the 20250SB0323PN1620 - 7 - board.
20250SB0323PN0254 - 7 - (c) Expenses.--Expenses of the authority shall be paid from assets or income of the authority.
(c) Expenses.--Expenses of the authority shall be paid from assets or income of the authority.
Upon the dissolution of the authority, all money, assets and other property of the authority shall vest in the Commonwealth.
Upon the dissolution of the authority, all money, assets and other property of the authority shall vest 20250SB0323PN1620 - 8 - in the Commonwealth.
20250SB0323PN0254 - 8 - (i) Procurement.--The authority shall be exempt from the provisions of 62 Pa.C.S.
(i) Procurement.--The authority shall be exempt from the provisions of 62 Pa.C.S.
(1) The administrator shall provide administrative 20250SB0323PN0254 - 9 - services and staff to the authority and the board.
20250SB0323PN1620 - 9 - (1) The administrator shall provide administrative services and staff to the authority and the board.
(i) Appointments under this paragraph shall be as follows:
(i) Appointments under this paragraph shall be as 20250SB0323PN1620 - 10 - follows:
20250SB0323PN0254 - 10 - (A) One individual appointed by the President pro tempore of the Senate.
(A) One individual appointed by the President pro tempore of the Senate.
(v) One board member appointed by the other members 20250SB0323PN0254 - 11 - of the board by a vote of a majority, whose initial term shall be 10 years and a term of 10 years thereafter.
20250SB0323PN1620 - 11 - (v) One board member appointed by the other members of the board by a vote of a majority, whose initial term shall be 10 years and a term of 10 years thereafter.
(h) Liability.--Members of the board shall not be personally 20250SB0323PN0254 - 12 - liable on any obligations of the authority, including bonds of the authority.
20250SB0323PN1620 - 12 - (h) Liability.--Members of the board shall not be personally liable on any obligations of the authority, including bonds of the authority.
(8) Contract and execute instruments, including financing agreements, loan agreements, letter of credit 20250SB0323PN0254 - 13 - agreements, liquidity agreements, guarantees, sureties, mortgages, standby loan commitments and contracts of insurance, which are necessary or appropriate for carrying on the business of the authority.
(8) Contract and execute instruments, including 20250SB0323PN1620 - 13 - financing agreements, loan agreements, letter of credit agreements, liquidity agreements, guarantees, sureties, mortgages, standby loan commitments and contracts of insurance, which are necessary or appropriate for carrying on the business of the authority.
(17) Acquire, accept, purchase, receive, collect, hold, convey and invest money, fees and property, whether tangible or intangible, from all sources, directly or by assignment, 20250SB0323PN0254 - 14 - pledge or otherwise.
(17) Acquire, accept, purchase, receive, collect, hold, convey and invest money, fees and property, whether tangible 20250SB0323PN1620 - 14 - or intangible, from all sources, directly or by assignment, pledge or otherwise.
This paragraph includes the authority's contractors, subcontractors, assignees, lessees, agents, vendors and suppliers.
This paragraph includes the authority's contractors, subcontractors, assignees, lessees, agents, 20250SB0323PN1620 - 15 - vendors and suppliers.
20250SB0323PN0254 - 15 - (24) Exercise rights provided by law for the benefit or protection of the authority or obligees of the authority.
(24) Exercise rights provided by law for the benefit or protection of the authority or obligees of the authority.
(ii) The applicants or project users to pay or cause to be paid all other costs of acquiring, constructing, maintaining and operating the projects being financed.
(ii) The applicants or project users to pay or cause to be paid all other costs of acquiring, constructing, 20250SB0323PN1620 - 16 - maintaining and operating the projects being financed.
20250SB0323PN0254 - 16 - (iii) Conveyance with or without consideration of any part or all of a project being financed to the project user or applicant on or before payment of all bonds and contractual obligations of the authority incurred with respect to the project.
(iii) Conveyance with or without consideration of any part or all of a project being financed to the project user or applicant on or before payment of all bonds and contractual obligations of the authority incurred with respect to the project.
1727.
20250SB0323PN1620 - 17 - 1727.
20250SB0323PN0254 - 17 - 1728.
1728.
(viii) mature on a date or dates not to exceed 50 years from the bonds' original issue date;
(viii) mature on a date or dates not to exceed 50 20250SB0323PN1620 - 18 - years from the bonds' original issue date;
and 20250SB0323PN0254 - 18 - (ix) be subject to terms of redemption or tender, if any.
and (ix) be subject to terms of redemption or tender, if any.
(2) Bonds shall be payable solely from money received by the authority from revenues derived from the operation of the project or accounts pledged or available for repayment of the bonds as authorized in this chapter, which may include any of the following:
(2) Bonds shall be payable solely from money received by the authority from revenues derived from the operation of the project or accounts pledged or available for repayment of the bonds as authorized in this chapter, which may include any of 20250SB0323PN1620 - 19 - the following:
20250SB0323PN0254 - 19 - (i) The proceeds of bonds.
(i) The proceeds of bonds.
(4) THE COMMONWEALTH SHALL HAVE NO LIABILITY FOR <-- DEFAULTS OR FAILURES ASSOCIATED WITH PROJECTS, ISSUERS, OBLIGORS OR RELATED ENTITIES, WHETHER LOCATED WITHIN OR OUTSIDE THIS COMMONWEALTH.
(h) Use.--The authority may use the proceeds of bonds for any of the following:
20250SB0323PN1620 - 20 - (h) Use.--The authority may use the proceeds of bonds for any of the following:
20250SB0323PN0254 - 20 - (3) Paying expenses in connection with activity under paragraphs (1) and (2), including administrative costs of the authority and the administrator.
(3) Paying expenses in connection with activity under paragraphs (1) and (2), including administrative costs of the authority and the administrator.
(b) No tax liability.--The authority, as a public instrumentality of the Commonwealth performing essential governmental functions, is not required to pay any taxes or assessments upon any property located in this Commonwealth acquired or used or permitted to be used by the authority for 20250SB0323PN0254 - 21 - the authority's purposes.
20250SB0323PN1620 - 21 - (b) No tax liability.--The authority, as a public instrumentality of the Commonwealth performing essential governmental functions, is not required to pay any taxes or assessments upon any property located in this Commonwealth acquired or used or permitted to be used by the authority for the authority's purposes.
(2) A description of the project or projects to be financed.
20250SB0323PN1620 - 22 - (2) A description of the project or projects to be financed.
(4) A summary of the comments made and questions posed 20250SB0323PN0254 - 22 - at the public hearing.
(4) A summary of the comments made and questions posed at the public hearing.
(iii) Extending the time for the payment of bonds or interest.
20250SB0323PN1620 - 23 - (iii) Extending the time for the payment of bonds or interest.
20250SB0323PN0254 - 23 - (4) Covenant relating to any of the following:
(4) Covenant relating to any of the following:
Show all 50 changed rows (10 more)
Previous
Latest
(ii) Maintenance of the authority's real and personal property.
(ii) Maintenance of the authority's real and 20250SB0323PN1620 - 24 - personal property.
(iv) Insurance to be carried on the authority's real and personal property and the use and disposition of the 20250SB0323PN0254 - 24 - insurance proceeds.
(iv) Insurance to be carried on the authority's real and personal property and the use and disposition of the insurance proceeds.
(10) Pay the costs or expenses incident to any of the following:
20250SB0323PN1620 - 25 - (10) Pay the costs or expenses incident to any of the following:
20250SB0323PN0254 - 25 - (iii) The trust agreement securing the bonds.
(iii) The trust agreement securing the bonds.
A pledge or grant of a security interest in revenues or instruments made by the authority shall be valid and binding from the time the pledge is made.
20250SB0323PN1620 - 26 - A pledge or grant of a security interest in revenues or instruments made by the authority shall be valid and binding from the time the pledge is made.
The revenues, receipts, money or other property or instruments pledged and later received by the authority shall immediately be subject to the lien of the 20250SB0323PN0254 - 26 - pledge or security interest without any physical delivery of the property pledged or further act.
The revenues, receipts, money or other property or instruments pledged and later received by the authority shall immediately be subject to the lien of the pledge or security interest without any physical delivery of the property pledged or further act.
§ 1728.
20250SB0323PN1620 - 27 - § 1728.
20250SB0323PN0254 - 27 - (1) Government agencies.
(1) Government agencies.
The authority shall pay, on an annual basis, to the Commonwealth, the money generated by the authority after the payment of all costs and expenses to operate the authority, including payments to the administrator and the retention of money to maintain reasonable reserves as determined by the board.
The authority shall pay, on an annual basis, to the Commonwealth, the money generated by the authority after the payment of all costs and expenses to operate the authority, 20250SB0323PN1620 - 28 - including payments to the administrator and the retention of money to maintain reasonable reserves as determined by the board.
20250SB0323PN0254 - 28 -
20250SB0323PN1620 - 29 -
⬇ Download PDF
View plain text versions (2)

Action History

  1. Referred to Finance

  2. Third consideration and final passage

  3. Re-reported as amended

  4. Re-referred to Appropriations

  5. Second consideration

  6. First consideration

  7. Reported as committed

  8. Referred to Finance

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 6 co-sponsors · 246 not signed on · 9 voted No

Sponsors (1)

Co-sponsors (6)

Not signed on (246)

246 members have not signed on to this bill.

Show all 246 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

FINAL PASSAGE

Passed 40 Yea · 8 Nay
Party YeaNayPresentNot Voting
Republican 20601
Democratic 20201
Total 40802
% of votes cast 80%16%0%4%
How each member voted (50)
Member Party Vote
Amanda M. Cappelletti Democratic Yea
Anthony H. Williams Democratic Yea
Art Haywood Democratic Yea
Carolyn T. Comitta Democratic Yea
Christine M. Tartaglione Democratic Yea
James Andrew Malone Democratic Yea
Jay Costa Democratic Yea
John I. Kane Democratic Yea
Judith L. Schwank Democratic Yea
Katie J. Muth Democratic Nay
Lindsey M. Williams Democratic Nay
Lisa M. Boscola Democratic Yea
Maria Collett Democratic Yea
Marty Flynn Democratic Yea
Nick Miller Democratic Yea
Nick Pisciottano Democratic Yea
Nikil Saval Democratic Yea
Patty Kim Democratic Not Voting
Sharif Street Democratic Yea
Steven J. Santarsiero Democratic Yea
Timothy P. Kearney Democratic Yea
Vincent J. Hughes Democratic Yea
Wayne D. Fontana Democratic Yea
Camera Bartolotta Republican Yea
Chris Gebhard Republican Nay
Cris Dush Republican Yea
Daniel Laughlin Republican Yea
David G. Argall Republican Yea
Dawn W. Keefer Republican Nay
Devlin J. Robinson Republican Yea
Doug Mastriano Republican Nay
Elder A. Vogel Republican Yea
Frank A. Farry Republican Yea
Gene Yaw Republican Yea
Greg Rothman Republican Yea
Jarrett Coleman Republican Nay
Joe Picozzi Republican Yea
Joe Pittman Republican Yea
Judy Ward Republican Yea
Kim L. Ward Republican Yea
Kristin Phillips-Hill Republican Nay
Lisa Baker Republican Nay
Lynda Schlegel Culver Republican Yea
Michele Brooks Republican Yea
Patrick J. Stefano Republican Yea
Rosemary M. Brown Republican Yea
Scott E. Hutchinson Republican Yea
Scott Martin Republican Yea
Tracy Pennycuick Republican Not Voting
Wayne Langerholc Republican Yea

Official roll call →

Committee vote (Appropriations): Adopt Amendment

Passed 19 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 13001
Democratic 6002
Total 19003
% of votes cast 86%0%0%14%
How each member voted (22)
Member Party Vote
Amanda M. Cappelletti Democratic Yea
Art Haywood Democratic Yea
Jay Costa Democratic Yea
Judith L. Schwank Democratic Yea
Patty Kim Democratic Not Voting
Sharif Street Democratic Yea
Timothy P. Kearney Democratic Yea
Vincent J. Hughes Democratic Not Voting
Cris Dush Republican Yea
Daniel Laughlin Republican Yea
Devlin J. Robinson Republican Yea
Elder A. Vogel Republican Yea
Jarrett Coleman Republican Yea
Joe Picozzi Republican Yea
Joe Pittman Republican Yea
Kim L. Ward Republican Yea
Kristin Phillips-Hill Republican Yea
Lynda Schlegel Culver Republican Yea
Rosemary M. Brown Republican Yea
Scott Martin Republican Yea
Tracy Pennycuick Republican Not Voting
Wayne Langerholc Republican Yea

Official roll call →

Committee vote (Appropriations): Re-Reported as Amended

Passed 18 Yea · 1 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 12101
Democratic 6002
Total 18103
% of votes cast 82%5%0%14%
How each member voted (22)
Member Party Vote
Amanda M. Cappelletti Democratic Yea
Art Haywood Democratic Yea
Jay Costa Democratic Yea
Judith L. Schwank Democratic Yea
Patty Kim Democratic Not Voting
Sharif Street Democratic Yea
Timothy P. Kearney Democratic Yea
Vincent J. Hughes Democratic Not Voting
Cris Dush Republican Nay
Daniel Laughlin Republican Yea
Devlin J. Robinson Republican Yea
Elder A. Vogel Republican Yea
Jarrett Coleman Republican Yea
Joe Picozzi Republican Yea
Joe Pittman Republican Yea
Kim L. Ward Republican Yea
Kristin Phillips-Hill Republican Yea
Lynda Schlegel Culver Republican Yea
Rosemary M. Brown Republican Yea
Scott Martin Republican Yea
Tracy Pennycuick Republican Not Voting
Wayne Langerholc Republican Yea

Official roll call →

Committee vote (Finance): Reported as Committed

Passed 10 Yea · 1 Nay
Party YeaNayPresentNot Voting
Republican 7000
Democratic 3100
Total 10100
% of votes cast 91%9%0%0%
How each member voted (11)
Member Party Vote
Art Haywood Democratic Yea
Katie J. Muth Democratic Nay
Nick Pisciottano Democratic Yea
Wayne D. Fontana Democratic Yea
Daniel Laughlin Republican Yea
Greg Rothman Republican Yea
Jarrett Coleman Republican Yea
Kim L. Ward Republican Yea
Scott E. Hutchinson Republican Yea
Tracy Pennycuick Republican Yea
Wayne Langerholc Republican Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 323?
SB 323 is sponsored by David G. Argall (Republican), Sharif Street (Democratic), Tracy Pennycuick (Republican), John I. Kane (Democratic), Nick Miller (Democratic), Jay Costa (Democratic), and Joe Picozzi (Republican).
What is the current status of SB 323?
This bill has passed the Senate. Introduced February 26, 2025. It now moves to the second chamber.
Where can I track SB 323?
Track SB 323 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 323

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of SB 323

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →