Strategy and Investment in Rural Housing Preservation Act of 2025
Sponsored By: Senator Shaheen, Jeanne [D-NH]
Introduced
Summary
Preserve and revitalize affordable rural multifamily housing. This bill would create a permanent Housing Preservation and Revitalization Program in Title V of the Housing Act of 1949 to protect properties financed under sections 514, 515, and 516 and to keep units safe and affordable for residents.
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 4 benefits, 1 costs, 0 mixed.
Help to preserve rural apartments
If enacted, the bill would create a permanent USDA program to preserve rural multifamily rental buildings. The Secretary could restructure loans — lower or cut interest, defer or reamortize payments, and give other financial help — to keep units affordable. Owners who accept help would sign recorded use restrictions that usually last the loan term, or at least 20 years if rental help is extended. Owners must give a financing and repair plan before rental help; if the Secretary does not act in 30 days, the plan is auto‑approved for up to one year. These actions depend on later appropriations.
Funding and admin limits for preservation
If enacted, the bill would authorize $200 million per year for FY2026 through FY2030 for the preservation program, subject to later appropriations. It would also authorize $50 million for fiscal year 2026 to upgrade USDA multifamily loan and housing technology, with work finished within five years. The bill would cap program administrative spending at $1,000,000 per year.
New rural housing vouchers
If enacted, the bill would let USDA give rural housing vouchers to low‑income households who lived (for the remaining term of their lease) in certain 514/515/516 properties that were prepaid without restrictions, foreclosed, or matured after Sept. 30, 2005 and are not getting other preservation help. Monthly voucher payments would be set using the existing rule in subsection (a) of section 542. This could help tenants stay housed after a building loses its subsidy.
Tenant notices and help to stay
If enacted, the bill would require USDA and owners to send yearly written notices to owners and tenants before loans mature. Tenant notices must start at least 3 years before maturity and be in plain English and translated where needed. The Secretary would build faster processes to transfer rental help or give vouchers, allow tenant pre‑registration, and give owners one year to assign newly available help to eligible tenants. The Secretary must also send Congress a six‑month plan, form a 16‑member advisory committee, and meet rulemaking deadlines to implement preservation.
Agency gets more discretion
If enacted, the bill would change one sentence in existing law from 'shall' to 'may', giving the Agriculture Secretary discretion instead of a required duty in that specific paragraph. This could reduce guaranteed actions for owners or tenants in some cases.
Sponsors & CoSponsors
Sponsor
Shaheen, Jeanne [D-NH]
NH • D
Cosponsors
Sen. Moran, Jerry [R-KS]
KS • R
Sponsored 3/6/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov