This part reworks the rural housing programs of the farm agency. It makes a program to save aging rental housing permanent. Owners and tenants must be told years before a loan comes due. Rent aid can be kept in place even when a loan ends. A yearly report on these programs must be published.
The document says “is amended”Who acts: CongressHow: statuteSec. 502 in the PDF
What the document says
“(A) by striking ``or 515'' and inserting ``515, or 538''; and (B) by inserting ``, 1490p-2'' after ``1485''.”
The section amends section 363(2)(F) of the Multifamily Mortgage Foreclosure Act of 1981 to add loans under section 538 of the Housing Act of 1949, and the matching United States Code citation, to the mortgages the Act's procedures reach.
What the document actually says
“(A) by striking ``or 515'' and inserting ``515, or 538''; and (B) by inserting ``, 1490p-2'' after ``1485''.”
That sentence, in plain words
Two words come out of an older law. Longer words go in. They add one more kind of loan. A code citation is added to match.
What this is about
The older Act sets out how the farm agency forecloses. It listed some loan programs and not others. Now it lists one more.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(A) the Secretary shall maintain any rental assistance payments that are attached to any dwelling units in the property; and ``(B) the rental assistance contract may be used to provide further assistance to existing projects under 514, 515, or 516.''.”
The section adds a new paragraph to section 521(d) of the Housing Act of 1949 requiring the Secretary of Agriculture, when managing or disposing of a multifamily property the Department owns or holds a mortgage on and during foreclosure on a property with a rental assistance contract, to keep any rental assistance payments attached to the units, and allowing the contract to help other existing projects under sections 514, 515, or 516.
What the document actually says
“``(A) the Secretary shall maintain any rental assistance payments that are attached to any dwelling units in the property; and ``(B) the rental assistance contract may be used to provide further assistance to existing projects under 514, 515, or 516.''.”
That sentence, in plain words
The farm agency must keep the rent aid tied to the homes. The contract may also help other projects that already exist.
What this is about
A foreclosure can wipe out a rent subsidy. Then a tenant loses help through no fault of their own. This keeps the aid with the home.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“the Secretary of Agriculture shall conduct a study and submit to Congress a publicly available report on the loan program under section 521 of the Housing Act of 1949 (42 U.S.C. 1490a), including--”
The section requires the Secretary of Agriculture to study and report publicly to Congress within six months of enactment on the loan program under section 521 of the Housing Act of 1949, covering the total subsidies given to borrowers with section 502 loans, how much of those subsidies is being recaptured, and the time and cost of recapturing them.
What the document actually says
“the Secretary of Agriculture shall conduct a study and submit to Congress a publicly available report on the loan program under section 521 of the Housing Act of 1949 (42 U.S.C. 1490a), including--”
That sentence, in plain words
The farm agency must study one loan program. It must send Congress a report. The report must be open to the public.
What this is about
A subsidy here lowers what a borrower pays. Some of it is taken back later. The study asks how much and at what cost.
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.
The document says “can”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“Utilizing funds appropriated for such purposes, the Secretary of Agriculture may increase staffing capacity and upgrade information technology to support all Rural Housing Service programs.”
The section lets the Secretary of Agriculture, using funds appropriated for the purpose, add staff and upgrade information technology across all Rural Housing Service programs, and separately lets the Secretary improve the technology used to process and manage housing loans. Money appropriated for that stays available for five years, and the improvements must be made within that five-year period.
What the document actually says
“Utilizing funds appropriated for such purposes, the Secretary of Agriculture may increase staffing capacity and upgrade information technology to support all Rural Housing Service programs.”
That sentence, in plain words
The farm agency may hire more staff. It may also update its computer systems. Both cover the rural housing programs.
What this is about
This depends on Congress setting money aside. A second rule covers the loan systems. That money lasts five years and the work must be done in that time.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“The Secretary shall carry out a program under this section for the preservation and revitalization of multifamily rental housing projects financed under section 514, 515, or 516.”
The section adds a new section 545 to title V of the Housing Act of 1949 requiring the Secretary of Agriculture to run a program preserving and revitalizing multifamily rental housing projects financed under sections 514, 515, or 516 of that Act.
What the document actually says
“The Secretary shall carry out a program under this section for the preservation and revitalization of multifamily rental housing projects financed under section 514, 515, or 516.”
That sentence, in plain words
The farm agency must run a program. Its job is to save and renew rental housing. That housing was built with three kinds of federal loan.
What this is about
Much rural rental housing was built decades ago. Its loans are now coming due. When they do, the housing can leave the program.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“the Secretary shall provide written notice to each owner of a property financed under section 514, 515, or 516 that will mature within the 4-year period beginning upon the provision of the notice, setting forth the options and financial incentives that are available to facilitate the extension of the loan term or the option to decouple a rental assistance contract”
The new section 545 requires the Secretary of Agriculture to write each year to every owner whose loan will mature within four years, setting out the options and financial incentives available for extending the loan term or for decoupling a rental assistance contract.
What the document actually says
“the Secretary shall provide written notice to each owner of a property financed under section 514, 515, or 516 that will mature within the 4-year period beginning upon the provision of the notice, setting forth the options and financial incentives that are available to facilitate the extension of the loan term or the option to decouple a rental assistance contract”
That sentence, in plain words
The farm agency must write to each owner every year. It writes when a loan will come due within four years. The letter must set out the choices open to the owner.
What this is about
A loan matures when the last payment falls due. At that point the housing can leave the program. The letter gives the owner four years to decide.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(i) the date of the loan maturity; ``(ii) the possible actions that may happen with respect to the property upon that maturity; and ``(iii) how to protect their right to reside in federally assisted housing, or how to secure housing voucher, after that maturity.”
The new section 545 requires the Secretary of Agriculture to write each year, no later than two years before a loan matures, to every household in the property, telling them the maturity date, what may happen to the property then, and how to protect their right to stay in federally assisted housing or to get a voucher. The notice must be in plain English and translated where a significant number of residents in the area speak another language.
What the document actually says
“``(i) the date of the loan maturity; ``(ii) the possible actions that may happen with respect to the property upon that maturity; and ``(iii) how to protect their right to reside in federally assisted housing, or how to secure housing voucher, after that maturity.”
That sentence, in plain words
The letter must give the date the loan comes due. It must say what could happen to the building then. It must say how a tenant can keep a home with federal help.
What this is about
The letter must go out at least two years ahead. It must be in plain English. It must be translated where many people in the area speak another language.
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.
The document says “can”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(1) reducing or eliminating interest; ``(2) deferring loan payments; ``(3) subordinating, reducing, or reamortizing loan debt;”
The new section 545 lets the Secretary of Agriculture restructure existing housing loans, on a proposal from either side, so that projects have enough resources to stay safe and affordable for low-income residents and farm laborers. The tools are cutting or removing interest, deferring payments, subordinating, reducing, or reamortizing debt, other financial help including advances, payments, and incentives allowing owners a reasonable return, and permanently taking some units out of income restrictions where vacancies have persisted.
What the document actually says
“``(1) reducing or eliminating interest; ``(2) deferring loan payments; ``(3) subordinating, reducing, or reamortizing loan debt;”
That sentence, in plain words
The farm agency may lower or drop the interest. It may let payments wait. It may shrink the debt or spread it over more years.
What this is about
Restructuring changes the terms of a loan already made. Here it is meant to keep the housing going. The owner or the agency may start the talks.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“the Secretary shall offer to renew the rental assistance contract under section 521(a)(2) for a term that is the shorter of 20 years and the term of the restructured loan, subject to annual appropriations, provided that the owner agrees to bring the property up to such standards that will ensure maintenance of the property as decent, safe, and sanitary housing”
The new section 545 requires the Secretary of Agriculture, when a loan is restructured, to offer to renew the rental assistance contract for the shorter of 20 years and the term of the restructured loan, subject to annual appropriations, provided the owner agrees to bring the property up to standards keeping it decent, safe, and sanitary for the full term. Where assistance is not available for every household, the Secretary may extend more to unassisted households as needed to make the project safe and affordable.
What the document actually says
“the Secretary shall offer to renew the rental assistance contract under section 521(a)(2) for a term that is the shorter of 20 years and the term of the restructured loan, subject to annual appropriations, provided that the owner agrees to bring the property up to such standards that will ensure maintenance of the property as decent, safe, and sanitary housing”
That sentence, in plain words
The farm agency must offer to renew the rent aid. The term is 20 years or the length of the new loan, whichever is shorter. The owner must agree to bring the building up to standard.
What this is about
Rent aid pays part of what a tenant owes. It runs only as long as Congress funds it each year. The offer here comes with a repair promise.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“As part of the preservation and revitalization agreement for a project, the Secretary shall obtain a restrictive use agreement that is recorded and obligates the owner to operate the project in accordance with this title.”
The new section 545 requires the Secretary of Agriculture to obtain a recorded restrictive use agreement binding the owner to run the project under title V of the Housing Act of 1949. Its term matches the restructured loan, except that with a 20-year extension of the rental assistance contract it runs for the longer of 20 years or the remaining loan term. The Secretary may end a 20-year agreement early where the matching rental assistance contract ends for reasons outside the owner's control.
What the document actually says
“As part of the preservation and revitalization agreement for a project, the Secretary shall obtain a restrictive use agreement that is recorded and obligates the owner to operate the project in accordance with this title.”
That sentence, in plain words
The farm agency must get a written promise from the owner. It is filed in the land records. The owner must run the building under the rules of this part of the law.
What this is about
A recorded promise binds later owners too. Its length follows the loan. A longer rent aid deal makes it longer.
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.
The document says “can”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“the Secretary may renew the rental assistance contract, notwithstanding any requirement under section 521 that the recipient be a current borrower under section 514 or 515, for a term of 20 years, subject to annual appropriations.”
The new section 545 lets the Secretary of Agriculture renew a rental assistance contract for 20 years, subject to annual appropriations, where a loan maturing within four years of the owner notice cannot reasonably be restructured because it is not financially feasible or the owner does not agree, and the project was operating with rental assistance under section 521 with a borrower under section 514 or 515. The usual requirement that the recipient be a current borrower does not apply.
What the document actually says
“the Secretary may renew the rental assistance contract, notwithstanding any requirement under section 521 that the recipient be a current borrower under section 514 or 515, for a term of 20 years, subject to annual appropriations.”
That sentence, in plain words
The farm agency may renew the rent aid for 20 years. It may do so even though the owner is no longer a borrower. Money must still be set aside each year.
What this is about
To decouple is to split the rent aid from the loan. Without it, aid ends when the loan does. This lets the aid carry on.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(i) shall determine the maximum initial rent based on current fair market rents established under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f); and”
The new section 545 requires that any agreement extending a rental assistance contract oblige the owner to keep the project decent, safe, and sanitary and to run it as affordable housing. The Secretary must set the maximum initial rent from current fair market rents under section 8 of the United States Housing Act of 1937, and may adjust it each year by the operating cost adjustment factor under section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997, unless the project's budget-based needs require a higher rent, in which case the Secretary may approve a budget-based rent level.
What the document actually says
“``(i) shall determine the maximum initial rent based on current fair market rents established under section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f); and”
That sentence, in plain words
The farm agency sets the top starting rent. It uses the fair market rents from another housing law. Those figures are already worked out.
What this is about
Fair market rent is a figure set for each area. It stands for what a modest home costs there. The rent may rise each year by a set factor.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“Before the approval of a rental assistance contract authorized under this section, the Secretary shall require, through an annual notice in the Federal Register, the owner to submit to the Secretary a plan that identifies financing sources and a timetable for renovations and improvements determined to be necessary by the Secretary to maintain and preserve the project.”
The new section 545 requires the Secretary of Agriculture, through an annual notice in the Federal Register, to make an owner file a plan naming financing sources and a timetable for the renovations and improvements the Secretary finds necessary to keep the project going, before approving a rental assistance contract under the section.
What the document actually says
“Before the approval of a rental assistance contract authorized under this section, the Secretary shall require, through an annual notice in the Federal Register, the owner to submit to the Secretary a plan that identifies financing sources and a timetable for renovations and improvements determined to be necessary by the Secretary to maintain and preserve the project.”
That sentence, in plain words
The owner must hand in a plan before the deal is approved. The plan names where the money will come from. It also gives dates for the repair work.
What this is about
The farm agency asks for this through a yearly notice. That notice goes in the Federal Register. Without the plan there is no contract.
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.
The document says “can”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“the Secretary may provide grants to qualified nonprofit organizations, housing cooperative corporations, and public housing agencies to provide technical assistance, including financial and legal services, to borrowers under loans under this title for multifamily housing to facilitate the acquisition or preservation of such multifamily housing properties”
The new section 545 lets the Secretary of Agriculture give grants to qualified nonprofits, housing cooperative corporations, and public housing agencies to provide technical assistance, including financial and legal services, to borrowers, so as to help them buy or preserve multifamily housing in areas where the Secretary finds a risk of losing affordable housing. No more than $1,000,000 of the money available in a fiscal year may go to administrative expenses.
What the document actually says
“the Secretary may provide grants to qualified nonprofit organizations, housing cooperative corporations, and public housing agencies to provide technical assistance, including financial and legal services, to borrowers under loans under this title for multifamily housing to facilitate the acquisition or preservation of such multifamily housing properties”
That sentence, in plain words
The farm agency may give grants to nonprofits and housing groups. They then help borrowers with expert advice. That covers money and legal work.
What this is about
Buying or saving an apartment building is complex. A small owner may not know how. The help is aimed where housing is at risk of being lost.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(2) Interim final rule.--Not later than 1 year after the date of enactment of the 21st Century ROAD to Housing Act, the Secretary shall publish an interim final rule to carry out this section.''.”
The new section 545 requires the Secretary of Agriculture to publish an advance notice of proposed rulemaking and consult stakeholders within 180 days of enactment, and to publish an interim final rule carrying out the section within a year.
What the document actually says
“``(2) Interim final rule.--Not later than 1 year after the date of enactment of the 21st Century ROAD to Housing Act, the Secretary shall publish an interim final rule to carry out this section.''.”
That sentence, in plain words
The farm agency must publish a rule within one year. It is an interim final rule. Its job is to put this part of the law to work.
What this is about
First the agency must give early notice and ask others. That step is due within 180 days. An interim final rule takes hold while comments come in.
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.
The document says “is amended”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(B) upon request of an owner of a project financed under section 514 or 515, the Secretary is authorized to enter into renewal of such agreements for a period of 20 years or the term of the loan, whichever is shorter, subject to amounts made available in appropriations Acts;'';”
The section amends section 521(d) of the Housing Act of 1949 to let the Secretary of Agriculture, at an owner's request, renew a rental assistance agreement for 20 years or the loan term, whichever is shorter, subject to appropriations, and changes a requirement in paragraph (2) from shall to may. It also adds a rule that where contract authority is freed by the end of assistance to a family, the owner has up to six months to use it for another eligible unassisted family in the same project, after which the Secretary must use what remains for eligible families in other projects originally financed under sections 514, 515, or 516.
What the document actually says
“``(B) upon request of an owner of a project financed under section 514 or 515, the Secretary is authorized to enter into renewal of such agreements for a period of 20 years or the term of the loan, whichever is shorter, subject to amounts made available in appropriations Acts;'';”
That sentence, in plain words
An owner may ask for the rent aid deal to be renewed. The farm agency may then renew it for 20 years, or for the length of the loan if that is shorter. Money must be set aside for it.
What this is about
When one family leaves, its aid is freed. The owner gets six months to use it for another family there. After that it moves to other projects.
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.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“The Secretary shall establish a Rural Community Development Initiative, under which the Secretary shall provide grants, subject to the availability of appropriations, to eligible intermediaries to carry out programs to provide financial and technical assistance to eligible entities”
The section adds a new section 381O to subtitle E of the Consolidated Farm and Rural Development Act requiring the Secretary of Agriculture to establish a Rural Community Development Initiative giving grants, subject to appropriations, to qualified nonprofit or public intermediaries. They in turn help nonprofit community housing or development organizations, rural communities, and federally recognized Indian tribes build the capacity to improve housing, community facilities, and community and economic development in rural areas. A grant may be no more than $500,000, and the recipient must match it from other sources unless the Secretary waives that for a project in a persistently poor rural region.
What the document actually says
“The Secretary shall establish a Rural Community Development Initiative, under which the Secretary shall provide grants, subject to the availability of appropriations, to eligible intermediaries to carry out programs to provide financial and technical assistance to eligible entities”
That sentence, in plain words
The farm agency must set up a rural development program. It gives grants to go-between groups. Those groups then help local bodies with money and advice.
What this is about
A grant here is capped at five hundred thousand dollars. The group must usually match it. That match can be waived in a very poor region.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(1) raw data sortable by programs and by region regarding loan performance; ``(2) the housing stock of those programs, including information on why properties end participation in those programs, such as for maturation, prepayment, foreclosure, or other servicing issues; and ``(3) risk ratings for properties assisted under those programs.”
The section adds a new section 546 to title V of the Housing Act of 1949 requiring the Secretary of Agriculture to send the appropriate committees of Congress, and publish on the Department of Agriculture website, an annual report on rural housing programs with significant detail on program health, including sortable raw data on loan performance, the housing stock and why properties leave, and risk ratings. The data may be aggregated or anonymized to protect participant financial or personal information.
What the document actually says
“``(1) raw data sortable by programs and by region regarding loan performance; ``(2) the housing stock of those programs, including information on why properties end participation in those programs, such as for maturation, prepayment, foreclosure, or other servicing issues; and ``(3) risk ratings for properties assisted under those programs.”
That sentence, in plain words
The report must carry raw data on how loans are doing. It must be sortable by program and by region. It must say why buildings leave the programs. It must give a risk rating for each one.
What this is about
The report goes to Congress and onto the agency website. Figures may be grouped or stripped of names. That protects private details.
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.
The document says “shall”Who acts: Comptroller General of the United StatesHow: statuteSec. 502 in the PDF
What the document says
“(1) an analysis of how the outdated technology used by the Rural Housing Service impacts participants in the programs of the Rural Housing Service; (2) an estimate of the amount of funding that is needed to modernize the technology used by the Rural Housing Service; and”
The section requires the Comptroller General of the United States to report to Congress within a year of enactment on how the Rural Housing Service's outdated technology affects program participants, how much money would be needed to modernize it, and how many and what kind of new employees the Service needs to do so.
What the document actually says
“(1) an analysis of how the outdated technology used by the Rural Housing Service impacts participants in the programs of the Rural Housing Service; (2) an estimate of the amount of funding that is needed to modernize the technology used by the Rural Housing Service; and”
That sentence, in plain words
The report must say how old computer systems affect people in the programs. It must also put a figure on what fixing them would cost.
What this is about
The Comptroller General runs the audit arm of Congress. The report is due within one year. It must also say how many new staff are needed.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“the Secretary of Agriculture shall issue regulations to establish a process for adjusting the voucher amount provided under section 542 of the Housing Act of 1949 (42 U.S.C. 1490r) after the issuance of the voucher following an interim or annual review of the amount of the voucher.”
The section requires the Secretary of Agriculture, within two years of enactment, to issue regulations creating a process for adjusting a rural housing voucher after it is issued, following an interim or annual review. An interim review must allow recalculation at a tenant's request where income falls, family composition changes, or the rent changes. An annual review must require tenants to recertify family composition and that family income is no more than 80 percent of area median income, with the Secretary weighing extenuating circumstances behind a late recertification. An updated amount takes effect the first day of the month after the voucher expires, and the review must be done at least 60 days before the voucher term ends.
What the document actually says
“the Secretary of Agriculture shall issue regulations to establish a process for adjusting the voucher amount provided under section 542 of the Housing Act of 1949 (42 U.S.C. 1490r) after the issuance of the voucher following an interim or annual review of the amount of the voucher.”
That sentence, in plain words
The farm agency must write rules within two years. They set a way to change a voucher amount after it is given. That follows a review during the term or once a year.
What this is about
A tenant whose income drops may ask for a recheck. So may one whose family or rent changes. Once a year the tenant must confirm income and household.
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.
The document says “can”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(1) been prepaid with or without restrictions imposed by the Secretary pursuant to section 502(c)(5)(G)(ii)(I); ``(2) been foreclosed; or ``(3) matured after September 30, 2005.''.”
The section adds a new subsection (c) to section 542 of the Housing Act of 1949 letting the Secretary of Agriculture give rural housing vouchers to any low-income household, including those not receiving rental assistance, living for a term longer than the remainder of their lease in a property financed under sections 514, 515, or 516 whose loan has been prepaid, foreclosed, or matured after September 30, 2005. A separate subsection sets how the monthly assistance payment is worked out and provides for interim and annual review.
What the document actually says
“``(1) been prepaid with or without restrictions imposed by the Secretary pursuant to section 502(c)(5)(G)(ii)(I); ``(2) been foreclosed; or ``(3) matured after September 30, 2005.''.”
That sentence, in plain words
The loan was paid off early, with or without conditions. Or the property was foreclosed on. Or the loan came due after September 30, 2005.
What this is about
A voucher helps a tenant pay rent. When a building leaves the program, the tenant can be left exposed. This widens who may get one.
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.
The document says “can”Who acts: nonprofit and public body purchasersHow: statuteSec. 502 in the PDF
What the document says
“``(A) makes a commitment to address rehabilitation needs during ownership and long-term use restrictions on the property; and ``(B) at the time of purchase, accepts long-term use restrictions on the property.''; and”
The section amends section 515 of the Housing Act of 1949 to let a nonprofit or public body purchaser, including a limited partnership whose general partner exists mainly to provide affordable housing, buy a property with a market value appraisal without addressing repair needs at purchase, so long as it commits to address them during ownership and accepts long-term use restrictions at purchase. It also raises a figure in subsection (w)(1) from 9 percent to 25 percent.
What the document actually says
“``(A) makes a commitment to address rehabilitation needs during ownership and long-term use restrictions on the property; and ``(B) at the time of purchase, accepts long-term use restrictions on the property.''; and”
That sentence, in plain words
The buyer must promise to deal with repairs while it owns the place. It must also accept long-term limits on how the property is used. Both must be agreed at the time of sale.
What this is about
Repairs can cost more than a buyer has on day one. Requiring them up front can block a sale. This lets the promise stand in for the 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.
The document says “can”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(B) The Secretary may refinance or modify the period of any loan, including any refinanced loan, made under this section in accordance with terms and conditions as the Secretary shall prescribe, but in no event shall the total term of the loan from the date of the refinance or modification exceed 40 years.''.”
The section amends section 502(a)(2) of the Housing Act of 1949 to let the Secretary of Agriculture refinance or change the period of any loan made under that section, on terms the Secretary prescribes, so long as the total term from the date of refinancing or modification does not exceed 40 years. The amendment applies to loans made before, on, or after enactment.
What the document actually says
“``(B) The Secretary may refinance or modify the period of any loan, including any refinanced loan, made under this section in accordance with terms and conditions as the Secretary shall prescribe, but in no event shall the total term of the loan from the date of the refinance or modification exceed 40 years.''.”
That sentence, in plain words
The farm agency may refinance a loan or change how long it runs. It sets the terms. From that day the loan may not run more than 40 years.
What this is about
Refinancing replaces a loan with a new one. A longer term means a smaller payment each month. The change reaches loans already made.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(10) Transfer and assumption.--Upon the transfer of property for which a guaranteed loan under this subsection was made, and the assumption of the guaranteed loan by an approved eligible borrower, the original borrower of a guaranteed loan under this subsection shall be relieved of liability with respect to the loan.'';”
The section replaces paragraph (10) of section 502(h) of the Housing Act of 1949 so that when a property is transferred and an approved eligible borrower assumes the guaranteed loan, the original borrower is released from liability. It also adds a new paragraph letting the mortgagee charge the assuming borrower a reasonable and customary processing fee, with the Secretary setting a maximum that may be indexed for inflation.
What the document actually says
“``(10) Transfer and assumption.--Upon the transfer of property for which a guaranteed loan under this subsection was made, and the assumption of the guaranteed loan by an approved eligible borrower, the original borrower of a guaranteed loan under this subsection shall be relieved of liability with respect to the loan.'';”
That sentence, in plain words
A home with a backed loan can pass to a new owner. If an approved buyer takes on the loan, the first borrower is off the hook.
What this is about
To assume a loan is to take it over on the same terms. The lender may charge the new borrower a fee. The farm agency sets the top fee.
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.
The document says “shall”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“(A) a home-based business that is a licensed, registered, or regulated child care provider under State law or by a tribal organization; and (B) an applicant that has applied to become a licensed, registered, or regulated child care provider under State law or by a tribal organization.”
The section requires the Secretary of Agriculture to revise section 3555.102(c) of title 7 of the Code of Federal Regulations to exclude from the restriction there a home-based business that is a licensed, registered, or regulated child care provider under State law or by a tribal organization, and an applicant who has applied to become one. The terms State and tribal organization take the meanings given in section 658P of the Child Care and Development Block Grant Act of 1990.
What the document actually says
“(A) a home-based business that is a licensed, registered, or regulated child care provider under State law or by a tribal organization; and (B) an applicant that has applied to become a licensed, registered, or regulated child care provider under State law or by a tribal organization.”
That sentence, in plain words
Two kinds of case are taken out of the rule. One is a home child care business with a state or tribal license. The other is a person who has applied for one.
What this is about
The rule sits in a federal regulation, not in this law. It restricts running a business from a home with such a loan. Child care in the home is now carved out.
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.
The document says “may not be construed”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“``(C) Rule of construction.--Nothing in this paragraph shall be construed to prohibit the leasing of an accessory dwelling unit or the use of rental income derived from such a lease to qualify for a loan guaranteed under this subsection--”
The section amends section 502(h)(4) of the Housing Act of 1949 to add a definition of an accessory dwelling unit as a single habitable living unit with its own way in and out, usually smaller, that can be added to, created within, or detached from a primary single-family dwelling and that together with it forms a single interest in real estate. It adds a rule of construction that nothing in the paragraph bars leasing such a unit or using the rent from it to qualify for a guaranteed loan, after the date of enactment and where the property was built before that date.
What the document actually says
“``(C) Rule of construction.--Nothing in this paragraph shall be construed to prohibit the leasing of an accessory dwelling unit or the use of rental income derived from such a lease to qualify for a loan guaranteed under this subsection--”
That sentence, in plain words
This part does not bar renting out a small extra home on the lot. It does not bar using that rent to qualify for a backed loan.
What this is about
An accessory dwelling unit is a second small home on one lot. The rule reaches loans after this law passed. The house itself must have been built before then.
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.
The document says “should”Who acts: Secretary of AgricultureHow: statuteSec. 502 in the PDF
What the document says
“It is the sense of Congress, not later than 90 days after the date on which the Secretary of Agriculture receives an application for a loan, grant, or combined loan and grant under section 502 or 504 of the Housing Act of 1949 (42 U.S.C. 1472, 1474), the Secretary of Agriculture should--”
The section states the sense of Congress that within 90 days of receiving an application under section 502 or 504 of the Housing Act of 1949 the Secretary of Agriculture should review it, complete the underwriting, decide eligibility, and notify the applicant. It requires an annual report to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services on how timely those determinations are, with reasons for any taking longer than 90 days and recommendations to shorten the timeline, until the Secretary has met the 90-day mark on every determination over a five-year period.
What the document actually says
“It is the sense of Congress, not later than 90 days after the date on which the Secretary of Agriculture receives an application for a loan, grant, or combined loan and grant under section 502 or 504 of the Housing Act of 1949 (42 U.S.C. 1472, 1474), the Secretary of Agriculture should--”
That sentence, in plain words
Congress states its view about how fast the farm agency should act. It covers applications for two kinds of rural housing help. The mark is 90 days from the day the form arrives.
What this is about
A sense of Congress states an aim rather than a rule. The report that follows is a rule. It runs each year until the mark is met for five years.
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.
Each distinct thing the section does across its nineteen subsections: the foreclosure procedures and preservation of rental assistance, the study of the section 521 loan program, the staffing and technology authority, the permanent preservation and revitalization program with its notices, restructuring, rental assistance renewal, restrictive use agreements, decoupling, technical assistance, administrative cap and rulemaking, the rental assistance contract authority changes, the higher repair loan limit, the new Rural Community Development Initiative, the new annual report, the report by the Comptroller General, the voucher adjustment process, the widened voucher eligibility, the transfer of multifamily projects, the extended loan term, the release of liability on assumption, the child care loan restriction, the accessory dwelling unit rules, and the application review provisions.
Purely mechanical amendments that redesignate subparagraphs or update a cross reference are recorded only where they change what somebody must do.
The section works by amending the Housing Act of 1949, the Multifamily Mortgage Foreclosure Act of 1981, and the Consolidated Farm and Rural Development Act. None of those is indexed here, so nothing is recorded about what sections 502, 504, 514, 515, 516, 521, or 542 of the Housing Act of 1949 provide.
