HARRISBURG, PA – Pennsylvania’s state Senate on Tuesday sent legislation to expand the state housing trust fund to the governor for signature.
“The Senate’s 47-1 vote coupled with the unanimous vote in the House reflects the broad bi-partisan commitment to a home within reach of all Pennsylvanians,” said Liz Hersh, executive director of the Housing Alliance of Pennsylvania.
The trust fund, officially known as PA Housing Affordability and Rehabilitation Enhancement (PHARE), supports development and rehabilitation of quality homes affordable to seniors, people with disabilities, veterans, low-wage working families and helps homelessness.
“This bill is about growth and opportunity. It creates jobs, reduces blight, addresses homelessness and bolsters the private rental market,” said the bill’s prime sponsor, State Representative Thomas Killion (R-Delaware). “In its first three years more than 500 jobs have been created and nearly one-quarter billion dollars is being leveraged from the state’s investment.”
PHARE is a success story. Since 2012, $34 million is helping 4,148 families through housing development, rehab and rental assistance. Currently PHARE is funded by a portion of Marcellus Shale drilling impact fees in the 37 Pennsylvania counties with wells. The new legislation will expand the Housing Trust Fund’s revenue and reach to all 67 counties without creating new fees or raising taxes. Revenue will come from future growth in the existing Realty Transfer Tax, directing it back into the residential real estate market.
Hersh expects Governor Tom Wolf to sign the legislation.
For more information on the state Housing Trust Fund, visit www.homesnotblight.org.
The Housing Alliance of Pennsylvania is a non-partisan, statewide public interest advocate working to help increase the supply of safe, affordable and accessible homes available to all Keystone State residents – especially those with low incomes, including veterans, elderly and disabled individuals. By serving as a central information hub for housing advocates, providers and the media and seeking ways to collaborate with local, state and federal policy makers, the Housing Alliance helps Pennsylvania’s most vulnerable residents find stable, secure homes and use it as the foundation of prosperity. For more information, visit www.HousingAlliancePA.org.