PA House bill creates state Housing Trust Fund

The PA House of Representatives passed House Bill 60 Monday, creating a state Housing Trust Fund.

The PA Association of REALTORS® has supported the Housing Alliance of PA’s efforts to create a statewide housing trust fund. HB 60 uses federal stimulus funds to create more affordable housing opportunities for Pennsylvanians while helping to rebuild the state’s economy by putting properties back on the tax rolls and increasing property values, which in turn will help stabilize communities. Pennsylvania stands to receive nearly $40 million in funding from the federal stimulus program.

In other legislative issues, House Bill 1196 was not acted on during Monday’s session. HB 1196 would have extended the 2006 Uniform Construction Code and removed the sprinkler mandate for all new construction starting in January 2011. Because the bill was not passed, the state Department of Labor and Industry will adopt regulations implementing mandatory sprinklers in all new homes in 2011.

PAR opposed mandated sprinklers in new construction because Pennsylvanians can’t afford it. Mandatory sprinklers in new one- and two-family construction will drive up new home prices in Pennsylvania and stall the recovery of the housing sector and improve the Pennsylvania economy.