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Strategy and Investment in Rural Housing Preservation Act of 2021

USA117th CongressHR-1728| House 
| Updated: 3/10/2021
Cynthia Axne

Cynthia Axne

Democratic Representative

Iowa

Cosponsors (2)
Al Lawson (Democratic)Emanuel Cleaver (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Strategy and Investment in Rural Housing Preservation Act of 2021 This bill provides assistance to rural, multifamily rental-housing projects and tenants. Specifically, the Department of Agriculture (USDA) must implement a program for the preservation and revitalization of such housing projects that are financed with USDA loans. As part of this program, USDA may restructure existing housing loans by reducing or eliminating interest and deferring loan payments. When offering to restructure such a loan, USDA must also offer to renew a property owner's contract for rental assistance payments for a term of 20 years, provided that the property owner agrees to maintain the property as decent, safe, and sanitary housing for the full term of the contract. USDA must annually provide written notice explaining the options to restructure such loans to certain property owners. Additionally, USDA may provide technical assistance grants to qualified nonprofit organizations and public housing agencies to help borrowers acquire multifamily rental-housing properties in areas where there is a risk of loss of affordable housing. Further, USDA may provide rural housing vouchers for low-income households (including those not receiving rental assistance) residing in certain properties financed with or insured by USDA loans. The bill also extends existing housing protections for victims of domestic violence, dating violence, sexual assault, and stalking to victims who receive rural housing voucher assistance. These protections include protections against denial or termination of assistance or eviction.
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Timeline

Bill from Previous Congress

HR 116-3620
Strategy and Investment in Rural Housing Preservation Act of 2019
Mar 10, 2021
Introduced in House
Mar 10, 2021
Referred to the House Committee on Financial Services.
Sep 20, 2022

Latest Companion Bill Action

S 117-4872
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
  • Bill from Previous Congress

    HR 116-3620
    Strategy and Investment in Rural Housing Preservation Act of 2019


  • March 10, 2021
    Introduced in House


  • March 10, 2021
    Referred to the House Committee on Financial Services.


  • September 20, 2022

    Latest Companion Bill Action

    S 117-4872
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.

Housing and Community Development

Related Bills

  • HR 117-1882: VAWA Protections for Rural Women Act of 2021
  • S 117-4872: Strategy and Investment in Rural Housing Preservation Act of 2022
  • S 117-2820: DASH Act
  • HR 117-1537: To amend the Immigration and Nationality Act to provide for terms and conditions for nonimmigrant workers performing agricultural labor or services, and for other purposes.
  • HR 117-1603: Farm Workforce Modernization Act of 2021
Advisory bodiesAssault and harassment offensesCongressional oversightCrimes against womenCrime victimsDomestic violence and child abuseForeign language and bilingual programsGovernment information and archivesGovernment lending and loan guaranteesHousing and community development fundingHousing finance and home ownershipHousing supply and affordabilityInterest, dividends, interest ratesLow- and moderate-income housingPerformance measurementResidential rehabilitation and home repairRural conditions and developmentSex offenses

Strategy and Investment in Rural Housing Preservation Act of 2021

USA117th CongressHR-1728| House 
| Updated: 3/10/2021
Strategy and Investment in Rural Housing Preservation Act of 2021 This bill provides assistance to rural, multifamily rental-housing projects and tenants. Specifically, the Department of Agriculture (USDA) must implement a program for the preservation and revitalization of such housing projects that are financed with USDA loans. As part of this program, USDA may restructure existing housing loans by reducing or eliminating interest and deferring loan payments. When offering to restructure such a loan, USDA must also offer to renew a property owner's contract for rental assistance payments for a term of 20 years, provided that the property owner agrees to maintain the property as decent, safe, and sanitary housing for the full term of the contract. USDA must annually provide written notice explaining the options to restructure such loans to certain property owners. Additionally, USDA may provide technical assistance grants to qualified nonprofit organizations and public housing agencies to help borrowers acquire multifamily rental-housing properties in areas where there is a risk of loss of affordable housing. Further, USDA may provide rural housing vouchers for low-income households (including those not receiving rental assistance) residing in certain properties financed with or insured by USDA loans. The bill also extends existing housing protections for victims of domestic violence, dating violence, sexual assault, and stalking to victims who receive rural housing voucher assistance. These protections include protections against denial or termination of assistance or eviction.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-3620
Strategy and Investment in Rural Housing Preservation Act of 2019
Mar 10, 2021
Introduced in House
Mar 10, 2021
Referred to the House Committee on Financial Services.
Sep 20, 2022

Latest Companion Bill Action

S 117-4872
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
  • Bill from Previous Congress

    HR 116-3620
    Strategy and Investment in Rural Housing Preservation Act of 2019


  • March 10, 2021
    Introduced in House


  • March 10, 2021
    Referred to the House Committee on Financial Services.


  • September 20, 2022

    Latest Companion Bill Action

    S 117-4872
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Cynthia Axne

Cynthia Axne

Democratic Representative

Iowa

Cosponsors (2)
Al Lawson (Democratic)Emanuel Cleaver (Democratic)

Financial Services Committee

Housing and Community Development

Related Bills

  • HR 117-1882: VAWA Protections for Rural Women Act of 2021
  • S 117-4872: Strategy and Investment in Rural Housing Preservation Act of 2022
  • S 117-2820: DASH Act
  • HR 117-1537: To amend the Immigration and Nationality Act to provide for terms and conditions for nonimmigrant workers performing agricultural labor or services, and for other purposes.
  • HR 117-1603: Farm Workforce Modernization Act of 2021
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Advisory bodiesAssault and harassment offensesCongressional oversightCrimes against womenCrime victimsDomestic violence and child abuseForeign language and bilingual programsGovernment information and archivesGovernment lending and loan guaranteesHousing and community development fundingHousing finance and home ownershipHousing supply and affordabilityInterest, dividends, interest ratesLow- and moderate-income housingPerformance measurementResidential rehabilitation and home repairRural conditions and developmentSex offenses