A civil rights action can be filed. However, unless there was some action by a government action that played a role in the conviction or hindered the release, I do not think there would be relief. I am not aware of any other means.
This is not intended as individual legal advice and there is no attorney client relationship established by this answer. It is advisable that you seek individualized legal assistance. This is not a substitute for hiring an attorney.
Pennsylvania does not have a statute as you describe. A Federal lawsuit my being relief but there is immunity issues and a very high threshold to over come. It is suggested that you meet with a civil rights attorney to determine if a cause of action exists. Good luck.
You must have evidence of wrongful conduct on the part of the state for a successful civil rights action. A good source for you may be The Innocence Project at Temple University.
I am an attorney in Pennsylvania but I am not currently *your* attorney. Nothing in my communication should be construed as creating an attorney/client relationship. Please contact me if you wish to retain me as your counsel.
"Is there legislation or has a law been passed that requires the state to render compensation to the wrongfully person?"
This answer is informational only and does not create an attorney client relationship. I am not expressing an opinion on the merits of your case based on the facts above. My answer to this question might seems curt or mean. My job is not to be your friend, but to tell you the truth. Sometimes the truth hurts. You don't want a lawyer that tells you everything you want to hear, pats your head, rubs your belly, and gives you a balloon. That lawyer is not doing you any favors. This is not legal advice. This is free. You pay for legal advice.