The MATH Act, or the Modern Access to Treasury & Housing Act, consists of four bills aimed at allowing Pennsylvania to keep pace with other states by increasing affordability in housing, supporting programs that help first-time homebuyers, updating how PA allows residents to recover unclaimed property and increasing economic development through investments in communities.
First-Time Homebuyers Savings Accounts
H.B. 126 allows savings accounts for the exclusive purpose of purchasing a first home and money can be deducted from state income tax.
Unclaimed Property Progress
H.B. 2092 mandates return of all property worth $10,000 or less to any owner whose contact information can be verified within the last year.
Best way to protect PA’s more than $163 billion in investments is encouraging the growth of families and businesses here.
What does it do? Funds financial institutions to provide low-interest loans to qualified borrowers at the direction of the Treasurer.
What positive affect will Impact Pennsylvania have on PA? Infuses capital into local projects that might otherwise be restrained by limited loans or high-interest rates; supports community banks by creating partnerships to ensure a robust financial market.
Program allows PA to keep up with neighbors and states across the political sphere:
Texas Certified Capital Companies
CalCAP in California
GrowNow Ohio
New Mexico Small Business Investment Corporation
Invest in Illinois
Nevada’s Silver State Opportunities Fund
Outdated and dangerous infrastructure is affecting the state’s ability to retain and attract families and businesses. When federal dollars are implemented, state spending on infrastructure typically declines – leading to an overall loss in investment.
What does it do? Strengthens infrastructure and real estate throughout PA. Partners with investment firms to provide for development projects and require they double match every dollar invested by the state.
What positive affect will Keystone Investstructure Fund have on PA? Creates mechanism to ensure long-term focus and returns by improving infrastructure and housing. Provides foundation and focus for sustainable development while mandating fair wages and benefits.
Program allows PA to keep up with neighbors and states across the political sphere:
ResultsOHIO
Michigan Finance Authority
First Fund in Illinois