Housing Committee
JOINT FAVORABLE REPORT
Bill No.: HB-5679
AN ACT CONCERNING PROPERTY TAX ABATEMENT FOR CERTAIN FIRST-
Title: TIME HOME BUYERS.
Vote Date: 3/11/2021
Vote Action: Joint Favorable
PH Date: 2/18/2021
File No.:
Disclaimer: The following JOINT FAVORABLE Report is prepared for the benefit of the
members of the General Assembly, solely for purposes of information, summarization and
explanation and does not represent the intent of the General Assembly or either chamber
thereof for any purpose.
SPONSORS OF BILL:
Rep. Joseph Zullo, District 99
REASONS FOR BILL:
Although CHFA loans offer lower rates and costs than many other loan products, lenders
often don't promote them because they cannot make as much commission off them as they
can other loan products. As a result, homeowners who are most often first-time homebuyers,
end up paying more in interest. This credit is meant to incentivize people seeking mortgages
to ask for CHFA loans.
RESPONSE FROM ADMINISTRATION/AGENCY:
None
NATURE AND SOURCES OF SUPPORT:
Landlord Stephen Rejniak- Supports this bill in written testimony because it will help families
become homeowners.
NATURE AND SOURCES OF OPPOSITION:
Senior Legislative Associate of CCM Zachary McKeown- Opposes this bill in written
testimony saying the bill imposes a mandate on towns and cities. It would provide property
tax relief to a select few at the expense of the remaining local taxpayers. Cities and towns
cannot endure the burden of more property tax abatements according to the coalition.
Reported by: Eddie Aledia Date: 3/24/21