PA HB1989

Establishes the Keystone National Finance Authority as an independent public instrumentality of Pennsylvania to issue conduit revenue bonds for economic development projects throughout the United States

Creates a 13-member governing board with appointees from the Governor (2), State Treasurer (1), Auditor General (1), four legislative leaders, and five members appointed by the board itself to staggered 10-year terms

Authorizes the authority to finance infrastructure, transportation, housing, industrial parks, energy facilities, health care facilities, and other capital improvement projects through tax-exempt and taxable bonds with maturities up to 50 years

Bonds issued are not debts or liabilities of the Commonwealth; repayment comes solely from project revenues, with political subdivision approval required for capital projects within their jurisdiction

Requires annual independent audits, publication of financial statements, and payment of excess revenues to the Commonwealth after operating costs and reserves are maintained