February 25, 2019

First-Time Homebuyers Savings Account Legislation Passes the House

House Bill 128 (Brown, R-Monroe/Bizzarro, D-Erie), the First-Time Homebuyers Savings Account program legislation, was voted out of the House on Thursday, February 21. The Pennsylvania Association of Realtors® issued a Call-to-Action last week, urging Realtors® to contact their legislators to ask them to move the legislation. The bill moves on to the Senate for consideration. Thank you to all everyone that participated in this very successful Call-to-Action.

Senator Mensch (R-Montgomery) also introduced First Time Homebuyer legislation this week as Senate Bill 309. It is expected that the bill will be considered by the Senate Urban Affairs and Housing Committee soon after they return from Pa. Budget Hearings in March.

The First-Time Homebuyers Savings Account Program would allow Pennsylvanians to save money toward the purchase of a home and the money saved would qualify as a tax deduction for their state income tax return. Parents and grandparents would be eligible to save for children and grandchildren as well. To learn more about First Time Homebuyer Savings Accounts, visit FirstHomePA.com.