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PRINTER'S NO. 3552
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
2402
Session of
2020
INTRODUCED BY CEPHAS, ISAACSON, FREEMAN, SCHLOSSBERG, McCARTER,
HOHENSTEIN, ULLMAN, HILL-EVANS, MARKOSEK, MURT, KOSIEROWSKI,
HARRIS, CIRESI, SCHWEYER, BURGOS, KENYATTA, GALLOWAY, DeLUCA,
WILLIAMS, STURLA, MALAGARI, DEASY, CONKLIN, ROZZI, NEILSON,
READSHAW, FRANKEL, DERMODY AND GAINEY, APRIL 14, 2020
REFERRED TO COMMITTEE ON FINANCE, APRIL 14, 2020
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
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bonds and notes legal investments for certain purposes; and
indicating how the act shall become effective," in general
provisions, providing for suspension of interest payment
collection.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of December 3, 1959 (P.L.1688, No.621),
known as the Housing Finance Agency Law, is amended by adding a
section to read:
Section 105. Suspension of Interest Payment Collection.--
Notwithstanding any other law, beginning on the effective date
o f this section and continuing until thirty days after the
termination or expiration under 35 Pa.C.S. ยง 7301(c) (relating
to general authority of Governor) of the declaration of disaster
emergency issued by the Governor on March 6, 2020, published at
50 Pa.B. 1644 (March 21, 2020), and any renewal of the state of
disaster emergency, the agency may not collect interest in
connection with payments for loans otherwise collectible under
this act.
Section 2. This act shall take effect immediately.
20200HB2402PN3552 - 2 -
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