Senator Tom McGarrigle (R-26), chairman of the Pennsylvania Senate’s Urban Affairs and Housing Committee, today advanced a key affordable housing bill.
Senate Bill 1185, sponsored by Senator Tom Killion (R-9), cleared McGarrigle’s committee with a bipartisan unanimous vote. McGarrigle is the first co-sponsor of the bill.
This legislation will increase private investment in affordable housing by creating a state housing tax credit. This new tax credit, modeled after the highly successful federal Low Income Housing Tax Credit (LIHTC), will incentivize private investment in new and existing affordable housing.
The goal of the legislation is to increase affordable housing options for struggling families.
“Strong families are the key to stable, healthy neighborhoods, and the lack of affordable housing undermines both families and communities,” said McGarrigle. “Senator Killion’s state housing tax credit will not only help senior citizens, individuals with disabilities and families, it will spur economic development and replace blighted properties with new and refurbished housing.”
McGarrigle noted that affordable housing is desperately needed in Pennsylvania. For every 100 low-income households in our state, there are only 66 affordable rental units, and for every 100 very low-income households, there are only 38 affordable units available.
Killion’s bill is supported by the Housing Alliance of Pennsylvania, the state’s premier coalition advocating for affordable housing.
“There is an affordable housing crisis in our state,” said Killion. “We need to do everything we can to help provide homes for families who are facing economic challenges. I am grateful that Senator McGarrigle is helping to make this affordable housing tax credit a reality,” he added.