Strategy and Investment in Rural Housing Preservation Act of 2019

Bill: 116-hr-3620
Sponsor: Rep. Clay, Wm. Lacy [D-MO-1]
Introduced: 2019-07-05 in the House
Policy area: Housing and Community Development
Subjects: Advisory bodies
Assault and harassment offenses
Congressional oversight
Crime victims
Crimes against women
Domestic violence and child abuse
Foreign language and bilingual programs
Government information and archives
Government lending and loan guarantees
Housing and community development funding
Housing finance and home ownership
Housing supply and affordability
Interest, dividends, interest rates
Low- and moderate-income housing
Performance measurement
Residential rehabilitation and home repair
Rural conditions and development
Sex offenses

Summary:
action_date: 2019-07-05
text: 

Strategy and Investment in Rural Housing Preservation Act of 2019

 
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 financed with USDA loans. As part of this program, USDA may restructure existing housing loans by, for example, reducing or eliminating interest and deferring loan payments.
 
Further, USDA must annually provide, to owners of properties with loans that will mature within four years, written notice explaining the options to restructure such loans. USDA must also provide, to households in properties with loans that will mature within two years, written notice of actions that may happen upon the loan's maturity and information on how to protect their right to reside in federally assisted housing.
 
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.
 
USDA must also establish an advisory committee to assist in preserving such properties and implementing a specified plan to preserve their affordability for low-income families.
 
The bill also extends existing housing protections for victims of domestic violence, dating violence, sexual assault, and stalking to victims who receive housing voucher assistance. (These protections include a protection against eviction on the basis of being a victim of domestic violence.) 


action_date: 2019-09-10
text: 

Strategy and Investment in Rural Housing Preservation Act of 2019

 
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 financed with USDA loans. As part of this program, USDA may restructure existing housing loans by, for example, reducing or eliminating interest and deferring loan payments.
 
Further, USDA must annually provide, to owners of properties with loans that will mature within four years, written notice explaining the options to restructure such loans. USDA must also provide, to households in properties with loans that will mature within two years, written notice of actions that may happen upon the loan's maturity and information on how to protect their right to reside in federally assisted housing.
 
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.
 
USDA must also establish an advisory committee to assist in preserving such properties and implementing a specified plan to preserve their affordability for low-income families.
 
The bill also extends existing housing protections for victims of domestic violence, dating violence, sexual assault, and stalking to victims who receive housing voucher assistance. (These protections include a protection against eviction on the basis of being a victim of domestic violence.) 



Legislative actions:
action_date: 2019-09-11
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2019-09-10
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2019-09-10
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7573-7574)
action_date: 2019-09-10
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7573-7574)
action_date: 2019-09-10
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 3620.
action_date: 2019-09-10
text: Considered under suspension of the rules. (consideration: CR H7573-7576)
action_date: 2019-09-10
text: Mr. San Nicolas moved to suspend the rules and pass the bill, as amended.
action_date: 2019-09-06
text: Placed on the Union Calendar, Calendar No. 156.
action_date: 2019-09-06
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 116-198.
action_date: 2019-09-06
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 116-198.
action_date: 2019-07-11
text: Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
action_date: 2019-07-11
text: Committee Consideration and Mark-up Session Held.
action_date: 2019-07-05
text: Referred to the House Committee on Financial Services.
action_date: 2019-07-05
text: Introduced in House
action_date: 2019-07-05
text: Introduced in House