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Sponsor Testimony on House Bill 517 — Representative Nick Santucci (Ohio House)

Summary

Sponsor testimony by Representative Nick Santucci, 64th House District, to the House Economic and Workforce Development Committee on House Bill 517. The testimony says the bill would allow active duty service members to participate in the Homeownership Savings Linked Deposit Program. It says the program makes available premium rate savings accounts for the down payment and closing costs associated with the purchase of a home. It says service members who are residents of the state via a residency or domicile election would be eligible to apply for a homeownership savings account.

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“Sponsor Testimony on House Bill 517 — Representative Nick Santucci (Ohio House).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-06-11-econ-workforce-dev-testimony-testimony-12087-41c77e57df/, SHA-256 047496e20c3da962aca82dc6d90b94272ad9962b8a49def19ab8f227130fbd34.

Full text

                              Sponsor Testimony: House Bill 517

                      Representative Nick Santucci, 64th House District

                 House Economic and Workforce Development Committee


Chairman Swearingen, Ranking Member Upchurch, and members of the House Economic and
Workforce Development Committee, thank you for allowing me to testify today on House Bill
517, which would allow active duty service members to participate in the Homeownership Savings
Linked Deposit Program.

A home is one of the most important investments that many Ohioans make in their lives. It is a
symbol of security and demonstrates a commitment to invest time, dedication, and resources in a
community. The Homeownership Savings Linked Deposit Program supports Ohioans as they take
this step in life by making available premium rate savings accounts for the down payment and
closing costs associated with the purchase of a home. Housing is an issue that we are facing
throughout the country, and this program helps to alleviate the pressure on some Ohio citizens who
would like to purchase a home, but do not yet have the necessary resources to do so.

House Bill 517 will extend this program to include active duty service members who are residents
of the state via a residency or domicile election. These service members will be eligible to apply
for a homeownership savings account so they can purchase a home while on active duty
assignment here in Ohio. America owes a great and undeniable debt to her service members who
have dedicated their lives to protecting and serving our country. We depend on these individuals
for our security, and through House Bill 517, we can help them obtain security for themselves by
ensuring that they are afforded the resources necessary to purchase a home and to take that step
for their future while serving out their assignments here in Ohio.

Chairman Swearingen, Ranking Member Upchurch, and members of the House Economic and
Workforce Development Committee, thank you again for giving me the opportunity to provide
sponsor testimony on House Bill 517. I would be happy to answer any questions you may have.

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