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Permanent Program to Preserve Affordable Rural Rental Housing and Aid Tenants.

This Act establishes a permanent program dedicated to preserving safe and affordable multifamily rental housing for low-income families and farm laborers in rural areas. It introduces loan restructuring options for property owners and mandates early notification and long-term rental assistance extensions (20 years) to protect tenants from losing their subsidized homes. This ensures long-term housing stability for vulnerable rural residents.
Key points
Owners of rural affordable housing can restructure existing loans (e.g., reduced interest, deferred payments) to ensure properties remain affordable and safe for residents.
Tenants must receive written notice two years before their building's loan matures, informing them of their rights and options regarding continued federal housing assistance.
The program authorizes 20-year renewals of rental assistance contracts and provides rural housing vouchers to households at risk of displacement, minimizing housing loss.
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Additional Information
Print number: 118_S_1490
Sponsor: Sen. Shaheen, Jeanne [D-NH]
Process start date: 2023-05-09
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Strategy and Investment in Rural Housing Preservation Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1490.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-05-09.

What are the main provisions?

Key points include:

  • Owners of rural affordable housing can restructure existing loans (e.g., reduced interest, deferred payments) to ensure properties remain affordable and safe for residents.
  • Tenants must receive written notice two years before their building's loan matures, informing them of their rights and options regarding continued federal housing assistance.
  • The program authorizes 20-year renewals of rental assistance contracts and provides rural housing vouchers to households at risk of displacement, minimizing housing loss.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Shaheen, Jeanne [D-NH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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