Pennsylvania Creates Housing Trust Fund

December 2010Newsletters In the Zone

On November 23, 2010, Pennsylvania Governor Rendell signed into law House Bill 60 , which establishes the Pennsylvania Housing Affordability and Rehabilitation Enhancement Program to provide funding for housing projects to benefit older adults, people with disabilities and low-income residents.

The trust fund legislation passed with broad bipartisan support in both the House and Senate, making Pennsylvania the 39th state with a housing trust fund.

House Bill 60, introduced by State Rep. Peter Daley (D-Fayette), will create the affordable housing trust fund that will enable the Pennsylvania Housing Finance Agency to build or rehabilitate and preserve housing for low- to moderate-income people, the elderly and people with disabilities.

House Bill 60 currently has no appropriations attached but will rely on the National Housing Trust Fund, which is poised to distribute $1 billion to the states, of which Pennsylvania will receive $35 million. 30 percent of the money is targeted to those at 50 percent of area median income (about $30,000 a year or less).

For more information, please contact Robert W. Gundlach, Jr. at 215.918.3636 or [email protected].