PRINTER'S NO. 2406
No. 1846 Session of 2003
INTRODUCED BY BROWNE, DeWEESE, CAPPELLI, COY, CREIGHTON, DALLY,
DeLUCA, DENLINGER, GEIST, GEORGE, GINGRICH, HARHART,
HENNESSEY, HERSHEY, HORSEY, KENNEY, ROONEY, SEMMEL, SOLOBAY,
E. Z. TAYLOR, J. TAYLOR, THOMAS, WALKO AND YOUNGBLOOD,
JULY 10, 2003
REFERRED TO COMMITTEE ON CONSUMER AFFAIRS, JULY 10, 2003
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
27 the refunding, redemption and purchase of such obligations by
28 the agency, prescribing remedies of holders of such bonds and
29 notes, exempting bonds and notes of the agency, the income
30 therefrom, and the income and revenues of the agency from
31 taxation, except transfer, death and gift taxes; making such
1 bonds and notes legal investments for certain purposes; and
2 indicating how the act shall become effective," further
3 providing for agency membership.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Section 202 of the act of December 3, 1959
7 (P.L.1688, No.621), known as the Housing Finance Agency Law,
8 amended December 18, 1992 (P.L.1652, No.182), is amended to
9 read:
10 Section 202. Agency Membership.--The members of the agency
11 shall be the Secretary of Community Affairs, the State
12 Treasurer, the Secretary of Commerce [and], the Secretary of
13 Banking, the Insurance Commissioner and the respective
14 successors in office of each of them, one member appointed by
15 the Majority Leader of the Senate, one member appointed by the
16 Minority Leader of the Senate, one member appointed by the
17 Majority Leader of the House of Representatives, one member
18 appointed by the Minority Leader of the House of Representatives
19 and six additional members whom the Governor shall appoint. One
20 of the members of the agency appointed by the Governor with the
21 advice and consent of the Senate shall be a representative of a
22 community-based nonprofit group which assists low-income and
23 moderate-income individuals in housing matters. Annually at the
24 first meeting held during the calendar year, the members shall
25 elect one of the members to serve as chairperson. The members
26 initially appointed shall serve for terms of one, two, three,
27 four, five and six years, respectively, the particular term of
28 each to be designated by the Governor at the time of
29 appointment. The terms of all their successors shall be six
30 years each, except that any person appointed to fill a vacancy
31 shall serve only for the unexpired term. Every member's term
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1 shall extend until his successor is appointed and qualified. Any
2 appointment made by the Governor of a member of the agency made
3 hereafter shall be subject to the advice and consent of a
4 majority of all the members of the Senate. Any appointed member
5 of the agency shall be eligible for reappointment. The members
6 of the agency shall not receive compensation for their services
7 as members, but shall receive reimbursement for all necessary
8 expenses incurred in connection with the performance of their
9 duties as members. A member who fails to attend meetings for
10 three consecutive months shall forfeit his seat unless the
11 chairperson of the agency, upon written request from the member,
12 finds that the member should be excused from a meeting because
13 of illness or the death of an immediate family member. Members
14 appointed by the Majority Leader of the Senate, the Minority
15 Leader of the Senate, the Majority Leader of the House of
16 Representatives and the Minority Leader of the House of
17 Representatives shall not be, themselves, current members of the
18 General Assembly and shall serve at the pleasure of the
19 appointing authority.
20 Section 2. This act shall take effect in 60 days.
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