HB 2347 — An Act amending the act of April 9, 1929 (P.L.177, No.175), known as The Administrative Code of 1929, in energy development authority and emergency powers, redesignating the Energy Development Authority to the Energy Financing Authority; further providing for definitions, for Energy Development Authority, for annual report, for powers and duties and for authority indebtedness; and making editorial changes.

PRINTER'S NO.   3143

                     THE GENERAL ASSEMBLY OF PENNSYLVANIA



                         HOUSE BILL
                         No. 2347
                                               Session of
                                                 2026

     INTRODUCED BY FIEDLER, O'MARA, STEELE, DOUGHERTY, WAXMAN, HILL-
        EVANS, PROKOPIAK, D. WILLIAMS, MADDEN, SANCHEZ, PIELLI,
        GIRAL, RIVERA, SCHLOSSBERG, KENYATTA, HANBIDGE, HOHENSTEIN,
        NEILSON, BOROWSKI, MAYES, BOYD, INGLIS, CIRESI, CEPEDA-
        FREYTIZ AND PARKER, APRIL 7, 2026

     REFERRED TO COMMITTEE ON ENERGY, APRIL 8, 2026


                                    AN ACT
 1   Amending the act of April 9, 1929 (P.L.177, No.175), entitled
 2      "An act providing for and reorganizing the conduct of the
 3      executive and administrative work of the Commonwealth by the
 4      Executive Department thereof and the administrative
 5      departments, boards, commissions, and officers thereof,
 6      including the boards of trustees of State Normal Schools, or
 7      Teachers Colleges; abolishing, creating, reorganizing or
 8      authorizing the reorganization of certain administrative
 9      departments, boards, and commissions; defining the powers and
10      duties of the Governor and other executive and administrative
11      officers, and of the several administrative departments,
12      boards, commissions, and officers; fixing the salaries of the
13      Governor, Lieutenant Governor, and certain other executive
14      and administrative officers; providing for the appointment of
15      certain administrative officers, and of all deputies and
16      other assistants and employes in certain departments, boards,
17      and commissions; providing for judicial administration; and
18      prescribing the manner in which the number and compensation
19      of the deputies and all other assistants and employes of
20      certain departments, boards and commissions shall be
21      determined," in energy development authority and emergency
22      powers, further providing for definitions, for Energy
23      Development Authority, for annual report, for powers and
24      duties and for authority indebtedness.
25      The General Assembly of the Commonwealth of Pennsylvania
26   hereby enacts as follows:
27      Section 1.    The definitions of "cost" and "project" in
 1   section 2801-C of the act of April 9, 1929 (P.L.177, No.175),
 2   known as The Administrative Code of 1929, are amended to read:
 3      Section 2801-C.   Definitions.--The following words and
 4   phrases when used in this article shall have the meanings given
 5   to them in this section unless the context clearly indicates
 6   otherwise:
 7      * * *
 8      "Cost" means the expense of construction and the expense of
 9   acquisition of all structures, equipment, fixtures, lands and
10   other property rights and interests in land necessary to a
11   project. The term also includes the expense of demolishing,
12   removing or relocating any buildings, equipment, fixtures or
13   structures on lands acquired or to be acquired, including the
14   expense of acquiring any lands to which such buildings,
15   equipment, fixtures or structures may be moved or relocated;
16   storm water management; sewage treatment, waste treatment and
17   pollution control facilities; [railroad sidings, spurs or branch
18   lines;] all labor, materials, machinery, fixtures and
19   equipment[, fixtures]; financing charges; interest on all bonds
20   prior to and during construction, and for a period of one year
21   thereafter; engineering, financial and legal services; plans,
22   specifications, studies, surveys necessary or incidental to
23   determining the feasibility or practicability of constructing a
24   project; administrative expenses; reserves for interest and for
25   extension, enlargements, additions and improvements; and such
26   other expenses as may be necessary or incidental to the
27   construction of the project and the placing of the same in
28   operation[.], including expenses for energy audits,
29   environmental and geotechnical surveys, permits and other
30   necessary approvals, planning and financing.

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 1      * * *
 2      "Project" means [an] a structure, fixture, real or other
 3   property or property right or interest, facility, undertaking or
 4   activity, entirely or largely located or conducted in
 5   Pennsylvania, which cannot be effectively funded using privately
 6   available resources, relating to:
 7      (1)   basic and applied research concerning energy use,
 8   renewable energy resources and energy extraction, transmission,
 9   storage or conversion;
10      (2)   limited scale demonstration of innovative or
11   commercially unproven technology to promote the production, use
12   or conservation of energy; [or]
13      (3)   activities to promote or remove obstacles to the
14   utilization and transportation of Pennsylvania energy resources,
15   including but not limited to limited scale synthetic fuel
16   facilities and the conversion or technological improvement of
17   industrial, commercial or agricultural systems to utilize
18   Pennsylvania coal or renewable energy resources: Provided, That
19   no such facility unreasonably interferes with private waste
20   recycling industries[.];
21      (4)   the development, generation, conservation, management,
22   delivery or storage of renewable energy resources for
23   residential, commercial, industrial, governmental, agricultural,
24   transportation or cogeneration use on an individual or
25   aggregated basis; or
26      (5)   the strengthening of the resiliency of infrastructure
27   that supports the development, generation, conservation,
28   management, delivery, storage or efficient use of energy.
29      Section 2.   Section 2803-C(b)(1), (2), (3) and (4) and (d) of
30   the act are amended and the section is amended by adding a

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 1   subsection to read:
 2      Section 2803-C.    Energy Development Authority.--* * *
 3      (b)   The authority shall be governed and all of its corporate
 4   powers exercised by a board of directors which shall be composed
 5   of the following individuals:
 6      (1)   [Nine] Five members to be appointed by the Governor[,
 7   one of whom shall be designated as chairman]. At least two
 8   members shall be members of the general public. The members
 9   initially appointed shall serve for terms of two, three and four
10   years, respectively, the particular term of each to be
11   designated by the Governor at the time of appointment. The terms
12   of all of their successors shall be four years each, except that
13   any person appointed to fill a vacancy shall serve only for the
14   unexpired term. Every member's term shall extend until his
15   successor is appointed and qualified. Any appointment of a
16   member of the authority shall be subject to the advice and
17   consent of a majority of all of the members of the Senate. Any
18   appointed member of the authority shall be eligible for
19   reappointment.
20      (2)   The Secretary of Environmental [Resources or his]
21   Protection or the secretary's designee.
22      (3)   The Secretary of [Banking or his] Conservation and
23   Natural Resources or the secretary's designee.
24      (4)   The Secretary of [Commerce or his] Community and
25   Economic Development or the secretary's designee.
26      * * *
27      (d)   The board of directors shall provide for the holding of
28   regular and special meetings. [Ten] Eight directors attending
29   shall constitute a quorum for the transaction of any business
30   and at least [six] five votes shall be required to adopt any

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 1   action, except that at least [nine] seven votes shall be
 2   required to approve financial assistance for any project.
 3      (e)    The Governor shall designate a member of the board to
 4   serve as chairperson. The members shall select from among
 5   themselves other officers as the members deem necessary.
 6      Section 3.   Section 2805-C of the act is amended to read:
 7      Section 2805-C.   Annual Report.--The board shall make an
 8   annual report of the authority's activities for the preceding
 9   fiscal year not later than one hundred [twenty] eighty days
10   after the conclusion thereof to the Governor and the General
11   Assembly. Each such report shall contain a statement of
12   activities and a complete operating and financial statement
13   covering the operations of the authority during such year.
14      Section 4.   Section 2806-C(2), (11), (14) and (18) of the act
15   are amended and the section is amended by adding paragraphs to
16   read:
17      Section 2806-C.   Powers and Duties.--The authority, as a
18   public corporation and governmental instrumentality exercising
19   public powers of the Commonwealth, is hereby granted and shall
20   have and may exercise all powers necessary or appropriate to
21   carry out and effectuate the purposes of this article, including
22   the following powers, in addition to others herein granted:
23      * * *
24      [(2)    To have existence for a term of fifty years, or until
25   its existence shall be terminated by law.]
26      (2.1)   To have existence until the later of ten years after
27   the effective date of this paragraph or one hundred eighty days
28   after the authority finally pays and discharges all debts, bonds
29   and other liabilities, including all interest due on the debts,
30   bonds and other liabilities, and settles all other outstanding

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 1   claims against the authority.
 2      * * *
 3      (11)    To lease, lease with an option to purchase, sell by
 4   installment sale or otherwise, or to otherwise dispose of, any
 5   or all of its projects, or any or all of its real or other
 6   property or property rights or interests necessary for a
 7   project, in whole or in part, for such rentals or amounts and
 8   upon such terms and conditions as the authority may deem proper.
 9      * * *
10      (14)    To [make grants] provide grants, loans, loan
11   guarantees, rebates and dividends to fund [research] or support
12   projects, including pilot programs for projects.
13      * * *
14      (18)    To receive appropriations and apply for and accept
15   grants, gifts, donations, bequests and settlements from any
16   public, quasi-public, nonprofit or private source[.], including
17   the Federal Government, the Commonwealth or any political
18   subdivision of the Commonwealth, corporation, association,
19   partnership, nonprofit corporation, charitable organization,
20   foundation, estate or individual. Funds received by the
21   authority shall be deposited in the Energy Development Fund and
22   used for the purposes of the authority. As used in this
23   paragraph, the term "grant" includes all of the following:
24      (i)    The tax refund generated by the authority's elective
25   payment of an applicable Federal tax credit.
26      (ii)    To the extent permitted by Federal law, a tax credit,
27   or the total or partial dollar value of a tax refund generated
28   by the elective payment of a tax credit, that is transferred,
29   assigned, paid, conveyed to or shared with the authority by a
30   public, quasi-public, nonprofit or private entity.

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 1      (19)     To establish, through bylaws and amendments to the
 2   bylaws, the authority's fiscal year.
 3      (20)     To consider assistance to low-income and moderate-
 4   income individuals and disadvantaged communities, assistance to
 5   small businesses and local governmental entities and job
 6   creation, retention and training in establishing and
 7   effectuating the authority's priorities.
 8      (21)     To plan, design, develop, finance, construct, own,
 9   operate, maintain and improve projects, including pilot programs
10   for projects, either alone or jointly with another entity, if
11   the authority or a wholly owned subsidiary of the authority
12   maintains majority ownership of a project at all times unless or
13   until the authority terminates its interest in the project
14   consistent with this section. This paragraph shall apply to a
15   project on real property that the authority does not own or in
16   which the authority does not have a property right or interest,
17   subject to agreement by the owner of the real property, right or
18   interest.
19      (22)     To provide capital, leverage private capital, provide
20   credit enhancements, facilitate the packaging of savings
21   generated by individual energy management devices into
22   marketable securities, make investments and provide other forms
23   of financial assistance to support the development or deployment
24   of renewable energy resources in this Commonwealth, either
25   directly or by contract with an external administrator acting
26   under the oversight of the authority. The authority or its
27   contractor may invest in or finance projects alone or in
28   conjunction with other investors, including community
29   development financial institutions, insured credit unions,
30   depository institutions and nonprofit organizations that perform

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 1   lending activities. Except as otherwise provided in this act,
 2   neither the authority nor its contractor may provide typical
 3   banking functions or accept deposits other than deposits from
 4   repayments and other revenue received from financial assistance
 5   provided under this section.
 6      (23)     To acquire, own, lease or maintain real or other
 7   property or property rights or interests necessary for a
 8   project.
 9      (24)     To apply for and receive and assist a public, quasi-
10   public, nonprofit or private entity in applying for and
11   receiving a Federal tax refund generated by the elective payment
12   of an applicable Federal tax credit. The authority may charge a
13   reasonable fee for assistance provided under this paragraph and
14   shall deposit fees collected under this paragraph into the
15   Energy Development Fund for the purposes of the authority.
16      Section 5.     Section 2807-C(j) introductory paragraph of the
17   act is amended to read:
18      Section 2807-C.     Authority Indebtedness.--* * *
19      (j)     In the event that the authority shall default in the
20   payment of principal [of] or premium, if any, or interest on any
21   issue of bonds after the principal, premium or interest shall
22   become due, whether at maturity, upon call for redemption or
23   otherwise and such default shall continue for a period of thirty
24   days or in the event that the authority shall fail or refuse to
25   comply with the provisions of this act or shall default in any
26   agreement made with the holders of the bonds, the holders of
27   twenty-five percent (25%) in aggregate principal amount of the
28   bonds then outstanding of such issues, by instrument or
29   instruments filed in the Office of the Prothonotary of the
30   Commonwealth Court, may appoint a trustee to represent the

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1   bondholders for the purpose herein provided. Such trustee and
2   any trustee under any indenture or other agreement, may, and
3   upon written request of the holders of twenty-five percent
4   (25%), or such other percentage as may be specified in any
5   indenture or other agreement aforesaid, in principal amount of
6   the particular issues of bonds then outstanding, shall, in his
7   or its own name:
8      * * *
9      Section 6.   This act shall take effect immediately.




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