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Bill would use 10% of state realty transfer tax to fund $2,500 first‑time homebuyer rebates; committee raises targeting and funding questions
Summary
Representative Nate Davidson told the House Finance Committee that House Bill 1450 would divert 10% of the state portion of the realty transfer tax to a rebate fund that pays up to $2,500 to qualifying homebuyers; the draft defines eligibility as "first time in Pennsylvania ever" for in‑migrants and residents who have not purchased a home in the past five years, and sunsets in 2030.
Representative Nate Davidson introduced House Bill 1450 to the House Finance Committee, proposing a rebate program for homebuyers funded by diverting 10% of the state portion of the realty transfer tax (RTT).
Davidson said the bill is intended to help homebuyers cope with post‑COVID price increases and to spur population growth in Pennsylvania ahead of the 2030 census. He described the proposal as a rebate (rather than a tax credit) to deliver funds quickly: “I peeled off 10% of the RTT to fund this program,” he said, and described the eligibility rule as “first time in Pennsylvania ever” for people moving into the state and “first time in the past five years” for residents who already live in Pennsylvania. The draft sets the rebate at up to $2,500 per eligible household and the program to sunset in 2030, with a required report to the General Assembly evaluating the program’s efficacy.
Mark Kibbe, chair of the Pennsylvania…
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