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Permanent Funding for Native Home Loans in Rural Areas.

This Act permanently authorizes a Department of Agriculture lending program aimed at boosting homeownership for members of Indian Tribes, Alaska Native, and Native Hawaiian communities in rural areas. It mandates setting aside $50 million annually for direct loans to specialized financial institutions (Native CDFIs) that serve these communities, significantly increasing their capacity to issue mortgages. This change directly improves access to housing finance for these groups, particularly on Tribal lands.
Key points
Dedicated Home Loan Capital: $50 million is set aside annually to provide capital to Native Community Development Financial Institutions (Native CDFIs), directly increasing the availability of home loans for Native populations.
Priority Lending: Native CDFIs must prioritize lending to eligible borrowers residing on priority Tribal lands.
Operational Support: The bill provides grants for operational support and technical assistance to these financial institutions, strengthening their ability to serve rural Native homebuyers.
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Additional Information
Print number: 118_S_1941
Sponsor: Sen. Smith, Tina [D-MN]
Process start date: 2023-06-13
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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

Native American Rural Homeownership Improvement Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1941.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-13.

What are the main provisions?

Key points include:

  • Dedicated Home Loan Capital: $50 million is set aside annually to provide capital to Native Community Development Financial Institutions (Native CDFIs), directly increasing the availability of home loans for Native populations.
  • Priority Lending: Native CDFIs must prioritize lending to eligible borrowers residing on priority Tribal lands.
  • Operational Support: The bill provides grants for operational support and technical assistance to these financial institutions, strengthening their ability to serve rural Native homebuyers.
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. Smith, Tina [D-MN].

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.

CATEGORIES

Real Estate Agriculture