The bill would change several rural housing programs run by the Department of Agriculture. It would create a permanent program to preserve and repair certain affordable rental properties, allow longer rental assistance contracts, and provide notice to owners and tenants when loans are nearing maturity. It would also change rules for housing vouchers, home repair loans, Native community development lenders, and transfers of rural rental properties. Other provisions address accessory dwelling units, loan terms, application reviews, staffing, and technology upgrades.
Tenants in certain rural rental properties could receive earlier notice about loan maturity and may qualify for vouchers if a property is prepaid, foreclosed, or its loan matures. Voucher amounts could be reviewed when income, household size, or rent changes. Eligible Native community development financial institutions could apply for loans to lend to qualifying homebuyers. The bill would also raise the maximum amount for certain home repair loans to $15,000 and reserve at least 60 percent of those loan funds for very low-income applicants.
The bill authorizes $200 million per year for fiscal years 2026 through 2030 for the housing preservation and revitalization program. It also authorizes amounts deemed necessary for staffing and technology upgrades for fiscal years 2026 through 2030, and for housing loan technology improvements in fiscal year 2026. It authorizes $1 million per year for fiscal years 2025 through 2027 for outreach and technical assistance to Native community development financial institutions. These are authorizations for appropriations, not stated amounts already provided. Several provisions are subject to available funding or annual appropriations.
No publicly available information.
No publicly available information.