HB 225 establishes tax-advantaged savings accounts in Pennsylvania for first-time home buyers. It allows individuals who haven’t owned a home in the past three years to open accounts with financial institutions, designating themselves or another person as the "qualified beneficiary" for down payments and closing costs on a single-family residence. Account holders can deduct up to $5,000 annually (or $10,000 for joint filers) from their taxable income, with a lifetime cap of $150,000 total contributions across all accounts. The bill directly affects eligible Pennsylvania residents seeking to purchase their first home, providing a state-level tax incentive to save for homeownership.
HB 1650 establishes Pennsylvania's Home Preservation Grant Program, administered by the Department of Community and Economic Development. It provides grants to local governments (counties, cities, townships) to fund repairs and improvements on existing owner-occupied homes, targeting households earning 80-120% of the area median income. Grants can cover up to $50,000 per unit for habitability fixes, energy/water efficiency upgrades, or accessibility modifications, with local governments allowed to use up to 10% of funds for administration. Applications must demonstrate experience in housing rehabilitation and include plans for using funds per the bill's requirements, with priority given to projects leveraging additional funding sources.
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.
HB 842 amends Pennsylvania's Tax Reform Code to create new deductions for realty transfer tax paid on certain home purchases. It directly affects low-to-moderate income buyers (those collecting SSI or with household income ≤215% of federal poverty level) and buyers purchasing primary residences at ≤80% of their county's median home price. The bill allows these buyers to deduct the transfer tax paid from their taxable income, and in the second scenario, the seller also receives this deduction. Counties must submit annual median home price data to the Department of Revenue to implement the price-based deduction. The changes take effect 60 days after enactment.
HB 882 prohibits real estate professionals (including agents, brokers, and developers) and construction companies from using "predatory tactics" like repeated unsolicited contact after a homeowner requests no further contact, or threats regarding the sale of their property. It requires these professionals to disclose their identity and the intended buyer of the homeowner's property during initial contact. Violators face civil penalties of $2,000 to $10,000 per violation, with each continuing day counting as a separate violation. Homeowners harmed by these practices can sue for damages and recover attorney fees.
HB 1094 creates a new tax credit for homeowners who rehabilitate historic properties in economically distressed areas of Pennsylvania. It directly affects homeowners who own and occupy as their primary residence certified historic properties located in designated "qualified census tracts" (areas at or below state median income or qualified opportunity zones). The credit covers qualified rehabilitation costs like structural repairs and exterior work, excluding property acquisition, interior improvements, or building expansions. The Pennsylvania Historical and Museum Commission and Department of Community and Economic Development will administer the program and manage a dedicated fund to support the credit.
HB 818 creates a program allowing first-time homebuyers in the Commonwealth to open state-backed savings accounts for down payments and closing costs. It establishes a dedicated First-time Homebuyer Savings Account Fund and requires the Treasury Department to manage the program and allocate funds. The bill directly affects eligible first-time homebuyers by providing a new savings mechanism for housing costs. Key provisions include the fund's creation, Treasury's administrative duties, and the structure for account access.
