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Extending Rural Housing Site Loans and Clarifying Fund Use for Affordable Housing.

This law makes it easier for non-profit organizations to develop land for low- and moderate-income housing in rural areas. It extends the repayment period for site loans from two years to five years, providing developers with greater flexibility. Crucially, it clarifies that these loan funds can explicitly cover essential land development costs, such as surveying and architectural services.
Key points
Non-profits developing affordable rural housing now have five years (up from two) to repay site acquisition and development loans.
Loan funds can explicitly cover necessary land preparation costs, including engineering, architectural, and surveying fees.
The changes aim to accelerate and simplify the provision of affordable housing sites in rural communities.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_S_3646
Sponsor: Sen. Moran, Jerry [R-KS]
Process start date: 2024-01-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3646.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-01-23.

What are the main provisions?

Key points include:

  • Non-profits developing affordable rural housing now have five years (up from two) to repay site acquisition and development loans.
  • Loan funds can explicitly cover necessary land preparation costs, including engineering, architectural, and surveying fees.
  • The changes aim to accelerate and simplify the provision of affordable housing sites in rural communities.
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. Moran, Jerry [R-KS].

What is the latest detailed status?

The latest detailed status is: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S225; text: CR S225)

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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