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 for projects such as flood control, disaster response, green infrastructure, and transportation improvements. The Act outlines the Board's powers, including the ability to provide financial assistance in the form of grants and loans, and mandates that all members participate in meetings and decision-making processes.

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 is designated for specific uses outlined in the Act, including support for blight demolition, energy efficiency projects, and business development initiatives. The legislation emphasizes the importance of regional and socioeconomic diversity in funding allocations and allows for matching funds to encourage broader participation in the program. The Act is set to take effect immediately upon passage.