PRINTER'S NO. 11
No. 12 Special Session No. 1 of 2007-2008
INTRODUCED BY DePASQUALE, BELFANTI, BENNINGTON, BRENNAN,
CALTAGIRONE, FRANKEL, FREEMAN, GEORGE, GERBER, GRUCELA,
HARKINS, HARPER, HELM, HERSHEY, HORNAMAN, LEACH, LONGIETTI,
MANDERINO, MANN, McCALL, McGEEHAN, MELIO, MOUL, MUNDY,
MUSTIO, M. O'BRIEN, PALLONE, PRESTON, READSHAW, SABATINA,
SANTONI, SCAVELLO, SIPTROTH, TANGRETTI, VITALI, WALKO,
YOUNGBLOOD, FABRIZIO, GEIST, HARHAI, McILHATTAN,
McILVAINE SMITH, RUBLEY, JOSEPHS AND DeWEESE,
SEPTEMBER 24, 2007
REFERRED TO COMMITTEE ON ENVIRONMENTAL RESOURCES AND ENERGY,
SEPTEMBER 24, 2007
AN ACT
1 Amending the act of December 3, 1959 (P.L.1688, No.621),
2 entitled, as amended, "An act to promote the health, safety
3 and welfare of the people of the Commonwealth by broadening
4 the market for housing for persons and families of low and
5 moderate income and alleviating shortages thereof, and by
6 assisting in the provision of housing for elderly persons
7 through the creation of the Pennsylvania Housing Finance
8 Agency as a public corporation and government
9 instrumentality; providing for the organization, membership
10 and administration of the agency, prescribing its general
11 powers and duties and the manner in which its funds are kept
12 and audited, empowering the agency to make housing loans to
13 qualified mortgagors upon the security of insured and
14 uninsured mortgages, defining qualified mortgagors and
15 providing for priorities among tenants in certain instances,
16 prescribing interest rates and other terms of housing loans,
17 permitting the agency to acquire real or personal property,
18 permitting the agency to make agreements with financial
19 institutions and Federal agencies, providing for the purchase
20 by persons of low and moderate income of housing units, and
21 approving the sale of housing units, permitting the agency to
22 sell housing loans, providing for the promulgation of
23 regulations and forms by the agency, prescribing penalties
24 for furnishing false information, empowering the agency to
25 borrow money upon its own credit by the issuance and sale of
26 bonds and notes and by giving security therefor, permitting
1 the refunding, redemption and purchase of such obligations by
2 the agency, prescribing remedies of holders of such bonds and
3 notes, exempting bonds and notes of the agency, the income
4 therefrom, and the income and revenues of the agency from
5 taxation, except transfer, death and gift taxes; making such
6 bonds and notes legal investments for certain purposes; and
7 indicating how the act shall become effective," establishing
8 an energy-efficient home assistance program.
9 The General Assembly of the Commonwealth of Pennsylvania
10 hereby enacts as follows:
11 Section 1. The act of December 3, 1959 (P.L.1688, No.621),
12 known as the Housing Finance Agency Law, is amended by adding an
13 article to read:
14 ARTICLE IV-D
15 ENERGY-EFFICIENT HOME ASSISTANCE PROGRAM
16 Section 401-D. General authority.
17 (a) Pilot program.--
18 (1) The agency shall operate a pilot program for two
19 years commencing with the effective date of this section,
20 which program shall award grants of up to $5,000 to
21 homebuyers to offset closing costs or down payment
22 assistance, including, but not limited to, the mortgage rate
23 buy-down, for homes that meet the following criteria for
24 energy efficiency or alternative energy systems, or both.
25 (2) After the conclusion of the pilot program the agency
26 may, in its sole discretion, continue to make such grants in
27 accordance with this article, based on availability of
28 funding.
29 (b) Grant amount.--
30 (1) Two thousand five hundred dollars of a grant issued
31 under this article may be provided to the purchaser of a home
32 that exceeds the energy and water conservation requirements
33 set by the Statewide Uniform Construction Code and achieves
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1 an Energy Star Label certified to by a Home Energy Rating
2 System rater.
3 (2) An additional grant amount of $2,500 may be provided
4 to the purchaser of a home that incorporates an alternative
5 energy generating system in its design. These systems
6 include, but are not limited to, photovoltaic solar energy
7 systems, solar hot water heater systems, wind turbine energy
8 systems or passive solar energy systems.
9 (3) Evidence shall be provided by the grantee to
10 document to the agency that the alternative energy generating
11 system was properly designed and installed to maximize the
12 energy output or energy savings potential of the system.
13 (c) Grant provisions.--The grant shall be a separate product
14 attached to other mortgage products to assist with offsetting
15 the closing costs or down payment assistance for the grant.
16 Section 402-D. Grant repayment.
17 (a) General rule.--A grant issued under this article may not
18 be required to be repaid to the agency if the home is owned by
19 the grantee for a minimum period of five years after the closing
20 date on the home.
21 (b) Recapture.--In the event the grantee relinquishes the
22 home in less than five years from the closing date on the home,
23 the agency shall be entitled to recapture one-fifth of the grant
24 for each succeeding year up to the five-year minimum.
25 Section 403-D. Eligibility.
26 In order to be eligible for a grant under this article:
27 (1) The home must be the primary residence of the
28 grantee.
29 (2) The home must be new construction with no prior
30 occupants.
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1 (3) The annual income of the grantee may not exceed 150%
2 of Statewide median income.
3 Section 404-D. Participating lenders.
4 The agency shall offer the grant through participating
5 lenders of the agency as well as other independent lending
6 institutions.
7 Section 405-D. Program guidelines.
8 Within 60 days of the of the effective date of this section,
9 the agency shall adopt initial program guidelines for the
10 implementation of this article and may revise the guidelines
11 whenever appropriate.
12 Section 406-D. Report to General Assembly.
13 The agency shall, within 60 days of the conclusion of the
14 pilot program, submit a written report to the General Assembly
15 on the implementation of the program.
16 Section 2. This act shall take effect in 60 days.
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