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Pennsylvania State Senate
04/27/2024 04:58 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20230&cosponId=42169
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Senate of Pennsylvania
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: February 22, 2024 04:08 PM
From: Senator Steven J. Santarsiero and Sen. Nick Miller, Sen. Vincent J. Hughes
To: All Senate members
Subject: Put Down Roots in PA
 
In 2023, Pennsylvania ranked eighth in the nation in the number of people who moved out of state. Simultaneously, our population is aging at an increasing rate. If these trends continue, they will lead to long-term economic stagnation. To reverse course, we must enact policies that incentivize young people, whether they grew up here or elsewhere, to put down roots in Pennsylvania.
 
To help accomplish this goal, we will be introducing the Put Down Roots PA Pilot Program aimed to provide student loan relief for individuals making their first home purchase in Pennsylvania.
 
The Put Down Roots PA Pilot Program is crafted to aid first-time homebuyers through financial assistance in the form of grants, capped at $40,000.  Grants will be provided to first-time homebuyers, whose household income does not exceed $200,000, for student loan relief.  PHEAA will administer the program and will be responsible for ensuring geographical diversity in grant distribution across the Commonwealth.
 
This initiative aligns with our shared goals of fostering economic growth, promoting responsible homeownership, and addressing the challenges faced by our constituents.