Rural Housing Reform: Streamlining Programs, Protecting Tenants, and Supporting Native Communities.
This act aims to streamline and modernize rural housing programs, making affordable housing more accessible. It introduces changes to loan procedures, supports Native communities, and provides protections for tenants in the event of property ownership changes.
Key points
Easier restructuring of multifamily housing loans to ensure affordability and safety for low-income residents.
Permanent establishment of a rural housing preservation and revitalization program, allowing for extended rental contracts and support for low-income families.
Increased eligibility for rural housing vouchers for households at risk of losing their homes due to foreclosure or loan maturity.
Creation of a relending program for Native Community Development Financial Institutions to boost homeownership opportunities for Native Americans, Alaska Natives, and Native Hawaiians.
Increased loan and grant limits for minor improvements to farm housing and buildings, facilitating renovations and better living conditions.
Mandatory annual reporting on rural housing programs to enhance transparency and evaluate program effectiveness.
Expired
Citizen Poll