BillTrack50 logo
Free Signup Login
Bill

Bill > SB753

PA SB753

PA SB753
Establishing the Put Down Roots PA Pilot Program; and providing for duties of Pennsylvania Higher Education Assistance Agency.

summary

Introduced
05/12/2025
In Committee
05/12/2025
Crossed Over
Passed
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

Amending the act of April 9, 1929 (P.L.343, No.176), entitled "An act relating to the finances of the State government; providing for cancer control, prevention and research, for ambulatory surgical center data collection, for the Joint Underwriting Association, for entertainment business financial management firms, for private dam financial assurance and for reinstatement of item vetoes; providing for the settlement, assessment, collection, and lien of taxes, bonus, and all other accounts due the Commonwealth, the collection and recovery of fees and other money or property due or belonging to the Commonwealth, or any agency thereof, including escheated property and the proceeds of its sale, the custody and disbursement or other disposition of funds and securities belonging to or in the possession of the Commonwealth, and the settlement of claims against the Commonwealth, the resettlement of accounts and appeals to the courts, refunds of moneys erroneously paid to the Commonwealth, auditing the accounts of the Commonwealth and all agencies thereof, of all public officers collecting moneys payable to the Commonwealth, or any agency thereof, and all receipts of appropriations from the Commonwealth, authorizing the Commonwealth to issue tax anticipation notes to defray current expenses, implementing the provisions of section 7(a) of Article VIII of the Constitution of Pennsylvania authorizing and restricting the incurring of certain debt and imposing penalties; affecting every department, board, commission, and officer of the State government, every political subdivision of the State, and certain officers of such subdivisions, every person, association, and corporation required to pay, assess, or collect taxes, or to make returns or reports under the laws imposing taxes for State purposes, or to pay license fees or other moneys to the Commonwealth, or any agency thereof, every State depository and every debtor or creditor of the Commonwealth," establishing the Put Down Roots PA Pilot Program; and providing for duties of Pennsylvania Higher Education Assistance Agency.

AI Summary

This bill establishes the Put Down Roots PA Pilot Program, a student loan relief initiative administered by the Pennsylvania Higher Education Assistance Agency (PHEAA) that provides grants to first-time homebuyers in Pennsylvania. To be eligible, applicants must purchase a home in Pennsylvania, intend to use it as their primary residence, have never previously owned a home in the state, commit to living in the home for at least three years, and have an annual household income not exceeding $200,000. The program allows individuals to receive grants up to $40,000, but with important restrictions: the grant cannot exceed the individual's student loan debt, cannot be more than 15% of the home's purchase price, and only one grant can be awarded per individual or home address. If multiple individuals are on a home's deed, each eligible person may apply, but they must collectively determine who receives the grant. The bill requires PHEAA to publish annual reports detailing program statistics, such as the number of applications, grants awarded, and recipient household incomes. The program will begin accepting applications after the General Assembly appropriates funding and will cease when those funds are exhausted. Grants awarded under this program will be tax-free, and PHEAA may charge a reasonable administrative fee for implementing the program.

Committee Categories

Education

Sponsors (11)

Last Action

Referred to Education (on 05/12/2025)

bill text

bill summary

Loading...

bill summary

Loading...
Loading...