Pennsylvania Housing Finance Agency Act of 1972

The 1959 Pennsylvania legislation, while commendable for its goals and its innovative financing concepts, proved inadequate over the years in meeting the changing housing needs in the state. In an attempt to correct the deficiencies of this legislation, Pennsylvania radically revised its housing law by enacting the Housing Finance Agency Act of 1972. This note undertakes a historical analysis of both the 1959 Act and the 1972 Act. Then, the new act is contrasted with similar statutes in other states. Finally, the effectiveness of the Pennsylvania legislation as a stimulate to the development of new low- and moderate-income housing is critically analyzed.