The limit on minor repair loans rises from $7,500 to $15,000
To increase the supply of housing in America, and for other purposes, section 502, Sec. 502.
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The limit on minor repair loans rises from $7,500 to $15,000
The document says “is amended”Who acts: CongressHow: statuteSec. 502 in the PDF
What the document says
“(1) in the first sentence, by inserting ``and may make a loan to an eligible low-income applicant'' after ``applicant''; and (2) by striking ``$7,500'' and inserting ``$15,000''.”
The section amends section 504(a) of the Housing Act of 1949 to add authority to make a loan to an eligible low-income applicant and to raise the dollar limit from $7,500 to $15,000.
What the document actually says
“(1) in the first sentence, by inserting ``and may make a loan to an eligible low-income applicant'' after ``applicant''; and (2) by striking ``$7,500'' and inserting ``$15,000''.”
That sentence, in plain words
New words let a loan go to an applicant with low income. One figure also comes out and a bigger one goes in. It rises from $7,500 to $15,000.
What this is about
Section 504 helps pay for small repairs to farm homes. The old cap was set long ago. Doubling it lets it cover more work.
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.
Increase the supply of housing in America, Public Law 119-101, sec. 502, 140 Stat. 918 (2026). https://www.govinfo.gov/content/pkg/PLAW-119publ101/html/PLAW-119publ101.htm
This page
“The limit on minor repair loans rises from $7,500 to $15,000,” Increase the supply of housing in America, section 502, Sec. 502. Read the Mandate, https://readthemandate.org/pl-119-101/proposal/sec502-repair-loans/ (retrieved October 10, 2026).
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