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Bill > HB128

PA HB128

PA HB128
Providing for the establishment of first-time home buyer savings accounts for first-time home buyers in this Commonwealth.

summary

Introduced
01/28/2019
In Committee
02/26/2019
Crossed Over
02/21/2019
Passed
Dead
12/31/2020

Introduced Session

2019-2020 Regular Session

Bill Summary

An Act providing for the establishment of first-time home buyer savings accounts for first-time home buyers in this Commonwealth.

AI Summary

This bill establishes first-time home buyer savings accounts in Pennsylvania. Key provisions include: allowing individuals to open a first-time home buyer savings account, designating a qualified beneficiary, and setting limits on the amount that can be contributed and deducted from state income taxes. The bill also outlines the reporting requirements for account holders and the limitations on financial institutions managing these accounts. Penalties are imposed for withdrawals used for non-eligible costs or for ineligible uses of the home, such as sale or lease within three years of purchase.

Committee Categories

Budget and Finance, Housing and Urban Affairs

Sponsors (60)

Rosemary Brown (R)*,  Stephen Barrar (R),  Aaron Bernstine (R),  Ryan Bizzarro (D),  Donna Bullock (D),  Thomas Caltagirone (D),  Joe Ciresi (D),  Mary Jo Daley (D),  Margo Davidson (D),  Austin Davis (D),  Tina Davis (D),  Dan Deasy (D),  Maria Donatucci (D),  Joe Emrick (R),  Marty Flynn (D),  Bob Freeman (D),  Mark Gillen (R),  Neal Goodman (D),  Liz Hanbidge (D),  Susan Helm (R),  Carol Hill-Evans (D),  Rich Irvin (R),  Aaron Kaufer (R),  Malcolm Kenyatta (D),  Stephen Kinsey (D),  William Kortz (D),  Leanne Krueger (D),  Andrew Lewis (R),  Mark Longietti (D),  Ryan Mackenzie (R),  Maureen Madden (D),  Steve Malagari (D),  Jeanne McNeill (D),  Steve Mentzer (R),  Lori Mizgorski (R),  Kyle Mullins (D),  Ed Neilson (D),  Jenn O'Mara (D),  Donna Oberlander (R),  Danielle Otten (D),  Clint Owlett (R),  Eddie Pashinski (D),  F. Todd Polinchock (R),  Christopher Quinn (R),  Jack Rader (R),  Adam Ravenstahl (D),  Harry Readshaw (D),  Christopher Sainato (D),  Ben Sanchez (D),  Lynda Schlegel-Culver (R),  Mike Schlossberg (D),  Lou Schmitt (R),  Melissa Shusterman (D),  Justin Simmons (R),  Jim Struzzi (R),  Tarah Toohil (R),  Wendy Ullman (D),  Perry Warren (D),  Dan Williams (D),  Dave Zimmerman (R), 

Last Action

Referred to URBAN AFFAIRS AND HOUSING (on 02/26/2019)

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