HARRISBURG – In an effort to provide stability for families, bipartisan legislation is being reintroduced. House Bill 730 establishes a new savings account program in PA for first-time homebuyers. The First-Time Homebuyers Savings Accounts would allow account holders to make tax deductible contributions at a total of $50,000 over a 10-year period, with an annual contribution cap of $5,000 for single taxpayers and $10,000 for those filing a joint return. The National Association of Realtors says the program has the potential to boost home sales by 4,000 annually across the state and economic impacts are estimated at up to more than $68 million. A previous version of the bill passed the House in the 2018-19 Legislative Session, but stalled in a Senate committee. The bill now awaits consideration from the House Urban Affairs Committee.