The Senate today gave final approval to a House Bill that would increase state support for a program that promotes housing affordability and rehabilitation in communities across the Commonwealth, according to Senator Elder Vogel, prime sponsor of the Senate version of the measure.
House Bill 792 would dedicate a portion of funds raised from the state’s Realty Transfer Tax (RTT) for use by the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund (PHARE) for projects across the state. The legislation does not increase the RTT rate, but solely changes how the revenues under the existing rate are used. Senator Vogel introduced the measure in the Senate as Senate Bill 566.
House Bill 792 now goes to the Governor for his signature and enactment into law.
Currently, PHARE’s only revenue is from Act 13 impact fees and those monies may only be spent in Marcellus Shale counties. Revenues generated through impact fees provide resources for home repairs, new construction, rental assistance, home rehabilitation and demolition.
“The economic case for strengthening PHARE – which has already proven its power to help alleviate blight, reduce homelessness, create jobs and drive economic activity – is compelling. But the broader good that we have the opportunity to offer vulnerable residents, families and communities, is even more profound,” Senator Vogel said. “Across Pennsylvania, we see blighted and abandoned properties overwhelming the housing market. PHARE funds can be used to remediate blight as well as develop homes within reach of low-wage workers and people on fixed income.”
According to the Federal Reserve Bank of Philadelphia, there is a statewide shortage of 266,000 rental homes that are both affordable and available to households earning about $20,000 or less. The National Alliance to End Homelessness reports that 270,000 Pennsylvanians are homeless, including those living doubled up with friends or family.
CONTACT:
Cheryl Schriner
(717) 787-3076
cschriner@pasen.gov