Republicans were in the majority. The Chairs were George Hasay (Majority) and Thomas Caltagirone (Minority). The Chairs of the Subcommittee on Economic Development were Frank Tulli (Majority) and Joseph Preston (Minority). The Chairs of the Subcommittee on Financial Services and Banking were Robert Allen (Majority) and Stephen Stetler (Minority). The Chairs of the Subcommittee on Housing were Peter Zug (Majority) and Thomas Tangretti (Minority). The Secretaries were Thomas Stevenson (Majority) and John Gordner (Minority).

The 2003-2004 Commerce Committee held public hearings on the following issues: Home Equity Conversion Mortgage Practices, Identity Theft and Credit Card Debt, House Bill 2150 (Payday Lending), House Bill 2639 (Criterion/Commonwealth Contract Outsourcing) and House Bill 2725 (Firefighter Homeownership Assistance Program). Informational Meetings were held on Governor Rendell’s Economic Stimulus Package, Pennsylvania Housing Finance Agency (PHFA), and Pennsylvania Technical Assistance Program (PENNTAP) and Other Penn State Based Business Assistance and Development Programs.