A report on the exemption is due in five years
What the document says“Not later than the date that is 5 years after the date of enactment of this section, the Secretary of Agriculture shall submit, to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report that--”
The section requires the Secretary of Agriculture to report to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs within 5 years of enactment. The report must say whether the exemption cut review time and administrative cost, describe how it affected the affordable housing sector in rural America, and include any legislative recommendations.
What the document actually says“Not later than the date that is 5 years after the date of enactment of this section, the Secretary of Agriculture shall submit, to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report that--”
The farm agency must write a report. It has five years to send it. It goes to two committees in Congress.
A report is how Congress checks on a change it made. This one asks whether the skipped step saved time and money. It also asks what happened to rural housing.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.