An Act amending the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, establishing the Put Down Roots PA Pilot Program; and providing for duties of Pennsylvania Higher Education Assistance Agency.

Senate Bill 753 establishes the Put Down Roots PA Pilot Program, to be administered by the Pennsylvania Higher Education Assistance Agency (PHEAA). This program offers student loan relief grants to eligible first-time homebuyers in Pennsylvania. To qualify, individuals must purchase a home as their primary residence, have never owned a home in the Commonwealth before, agree to reside there for at least three years, and have an annual household income under $200,000. Grants can be awarded up to $40,000, but cannot exceed the individual's student loan debt or 15% of the home's purchase price. These grant awards are also exempt from state income tax.