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

Bill: 118-s-3646
Sponsor: full_name: Sen. Moran, Jerry [R-KS]
Introduced: 2024-01-23
Policy area: Housing and Community Development
Subjects: Government lending and loan guarantees

Housing supply and affordability

Low- and moderate-income housing

Rural conditions and development
Latest action: action_date: 2024-01-29
text: Held at the desk.

Summaries:
action_date: 2024-01-23
action_desc: Introduced in Senate
text: <p>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.</p><p>Under the bill, the term <em>development</em> includes activities necessary to develop the&nbsp;land, such as surveying, architecture, and engineering.</p>

action_date: 2024-01-23
action_desc: Passed Senate
text: <p>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.</p><p>Under the bill, the term <em>development</em> includes activities necessary to develop the&nbsp;land, such as surveying, architecture, and engineering.</p>

tv_txt: II 118th CONGRESS 2d Session S. 3646 IN THE SENATE OF THE UNITED STATES January 23, 2024 Mr. Moran (for himself, Ms. Klobuchar , and Mrs. Shaheen ) introduced the following bill; which was read twice, considered, read the third time, and passed A BILL To amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans.

1. Financial assistance to nonprofit organizations to provide sites for rural housing for low- and moderate-income families Section 524(a)(1) of the Housing Act of 1949 ( 42 U.S.C. 1490d(a)(1) ) is amended— (1) in the first sentence, by inserting after development of land the following: , including for activities necessary for the development of land, such as surveying, architecture, and engineering, ; and (2) in the second sentence— (A) by striking two years and inserting five years ; and (B) by striking or within such additional period as may be authorized by the Secretary in any case as being necessary to carry out the purposes of this section .

tv_txt: 118th CONGRESS 2d Session S. 3646 IN THE SENATE OF THE UNITED STATES AN 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.

1. Financial assistance to nonprofit organizations to provide sites for rural housing for low- and moderate-income families Section 524(a)(1) of the Housing Act of 1949 ( 42 U.S.C. 1490d(a)(1) ) is amended— (1) in the first sentence, by inserting after development of land the following: , including for activities necessary for the development of land, such as surveying, architecture, and engineering, ; and (2) in the second sentence— (A) by striking two years and inserting five years ; and (B) by striking or within such additional period as may be authorized by the Secretary in any case as being necessary to carry out the purposes of this section .

Passed the Senate January 23, 2024. Secretary