The Rebuild Pennsylvania Act establishes the Rebuild Pennsylvania Board, the Rebuild Pennsylvania Program, and the Rebuild Pennsylvania Fund to enhance infrastructure and community development across the Commonwealth. The Board, composed of members appointed by various state leaders, will oversee the allocation of program funds, which are designated for a range of purposes including flood control, disaster response, green infrastructure, redevelopment, and transportation infrastructure. The Act outlines the Board's powers, duties, and operational guidelines, including provisions for meetings, quorum requirements, and member compensation.

Additionally, the Act creates the Rebuild Pennsylvania Fund, which will receive a transfer of $3 billion from the General Fund for the fiscal year 2024-2025. This fund will be utilized for financial assistance in the form of grants and loans for eligible projects as specified in the Act. The Board is tasked with ensuring that financial assistance considers regional and socioeconomic diversity, and it may require matching funds for certain projects. The Act is set to take effect immediately upon passage.