118th Congress · HOUSE BILLBILL

H.R. 7238Promote Affordable Rural Housing Act

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

Housing and community development
Introduced Feb 5, 2024
Last action Feb 5, 2024
Pipeline · Bill → Law
Step 1
Introduced
Feb 5, 2024
Step 2
Referred
Feb 5, 2024
Financial Services
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill extends from two years to five years the repayment term for certain loans to finance the purchase and development of housing sites for low- or moderate-income families under the Department of Agriculture Section 524 Rural Housing Site Loan program. Under the bill, the term development includes activities necessary to develop the land, such as surveying, architecture, and engineering.

Provisions · 2 sectionsIntroduced in House
Timeline · 2 actions
Feb 5, 2024
Introduced in House
Feb 5, 2024
Referred to the House Committee on Financial Services.