Rural Housing Reform: Support, Streamlining, and New Programs
This act aims to improve access to housing in rural areas, especially for low-income individuals and Native communities. It introduces new support programs, streamlines loan processes, and protects tenants, potentially enhancing living conditions for many families.
Key points
Easier access to housing loans and grants for minor home improvements for rural residents, including an increase in the grant limit to $15,000.
Support for Native communities (Indian Tribes, Alaska Natives, and Native Hawaiians) through special lending programs and grants for housing development.
Tenant protection in cases of property foreclosure or loan maturity, ensuring continued rental assistance and informing about available options.
Streamlining administrative and technological processes in housing programs to expedite the review of loan and grant applications.
Option to extend housing loan terms up to 40 years, potentially lowering monthly payments for borrowers.
Introduced
Additional Information
Print number: 119_S_1260
Sponsor: Sen. Smith, Tina [D-MN]
Process start date: 2025-04-02