What is the official ID of this bill?
The official print number for this legislation is HR 1728.
Rural Housing Support: Tenant Protection and Preservation
This act aims to protect access to affordable housing in rural areas for low-income individuals and farm laborers. It introduces loan restructuring programs for property owners and provides support for tenants to prevent displacement. Citizens can expect more stable housing conditions and access to assistance when loan agreements expire.
Key points
Property owners in rural areas can restructure loans to maintain affordable rents, potentially leading to lower rents for residents.
Tenants will receive two-year advance notice of loan maturities on their buildings, allowing them time to prepare and utilize available options, including housing vouchers.
The program provides for 20-year extensions of rental assistance contracts, ensuring long-term housing stability for low-income individuals.
Housing vouchers will be available for low-income households residing in properties where loans have matured or been prepaid.
Financial support for non-profit organizations and public agencies to help acquire properties and prevent the loss of affordable housing.
Status:
Expired
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