An Act amending the act of December 3, 1959 (P.L.1688, No.621), known as the Housing Finance Agency Law, establishing the Housing Construction Loan Program and the Housing Construction Loan Fund; and providing for duties of Pennsylvania Housing Finance Agency.

HB 844 creates Pennsylvania's Housing Construction Loan Program and a dedicated Housing Construction Loan Fund under the Pennsylvania Housing Finance Agency. The program provides loans to eligible builders (those operating in Pennsylvania for at least three years) for constructing new homes sold to low- and moderate-income households, and to those households for financing such homes. Key provisions limit loans to 80% of a county’s median home price, cap terms at 15 years, and require all sales to remain affordable to target households. Funds for the program come from state appropriations, grants, and loan repayments, managed through the State Treasury.