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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | May 28, 2024 09:39 AM |
|---|---|
| From: | Senator Lindsey M. Williams |
| To: | All Senate members |
| Subject: | Expanding Access to Affordable Housing through RAD |
| The Commonwealth of Pennsylvania has a shortage of affordable rental homes available to our residents. The National Low Income Housing Coalition reports that Pennsylvania lacks more than 265,000 housing units to meet demand for renters earning less than 30% of the area median income, or $30,000 per year. These households are severely cost burdened, spending more than half of their income on housing. These households are also more likely than other renters to sacrifice necessities, like food and healthcare, to pay the rent and to experience unstable housing situations, including evictions. Housing instability has a ripple effect on our entire economy. That is why I intend to introduce legislation that will allow housing authorities in Pennsylvania to develop much-needed, affordable housing options through the Rental Assistance Demonstration (RAD) program administered by the U.S. Department of Housing and Urban Development (HUD). My legislation will update the Tax Reform Code to exclude projects developed through RAD from the realty transfer tax (RTT). Since 2018, one county has been able to utilize this type of policy to support the development of affordable housing, but the rest of the state does not currently have that option. My bill will extend the exclusion to housing authorities throughout the state, equipping them with the flexibility necessary to explore the various modern models now available to develop affordable housing. I hope you will join me in co-sponsoring this important legislation. |
Introduced as SB1286
Memo Updated: May 28, 2024 09:41 AM