PENNSYLVANIA, April 24 - PRINTER'S NO. 628

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

616

Session of

2023

INTRODUCED BY HUGHES, SAVAL, CAPPELLETTI, KANE, HAYWOOD,

TARTAGLIONE, FONTANA, BREWSTER, COMITTA, DILLON, COSTA,

KEARNEY, MILLER, SCHWANK AND COLLETT, APRIL 24, 2023

REFERRED TO URBAN AFFAIRS AND HOUSING, APRIL 24, 2023

AN ACT

Amending the act of December 3, 1959 (P.L.1688, No.621),

entitled "An act to promote the health, safety and welfare of

the people of the Commonwealth by broadening the market for

housing for persons and families of low and moderate income

and alleviating shortages thereof, and by assisting in the

provision of housing for elderly persons through the creation

of the Pennsylvania Housing Finance Agency as a public

corporation and government instrumentality; providing for the

organization, membership and administration of the agency,

prescribing its general powers and duties and the manner in

which its funds are kept and audited, empowering the agency

to make housing loans to qualified mortgagors upon the

security of insured and uninsured mortgages, defining

qualified mortgagors and providing for priorities among

tenants in certain instances, prescribing interest rates and

other terms of housing loans, permitting the agency to

acquire real or personal property, permitting the agency to

make agreements with financial institutions and Federal

agencies, providing for the purchase by persons of low and

moderate income of housing units, and approving the sale of

housing units, permitting the agency to sell housing loans,

providing for the promulgation of regulations and forms by

the agency, prescribing penalties for furnishing false

information, empowering the agency to borrow money upon its

own credit by the issuance and sale of bonds and notes and by

giving security therefor, permitting the refunding,

redemption and purchase of such obligations by the agency,

prescribing remedies of holders of such bonds and notes,

exempting bonds and notes of the agency, the income

therefrom, and the income and revenues of the agency from

taxation, except transfer, death and gift taxes; making such

bonds and notes legal investments for certain purposes; and

indicating how the act shall become effective," in the

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