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US HB4957
Bill
Status
8/12/2025
Primary Sponsor
Zachary Nunn
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AI Summary
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Permanently establishes a Housing Preservation and Revitalization Program to restructure maturing loans for multifamily rental housing financed under sections 514, 515, or 516, with options including interest reduction, payment deferral, and debt reamortization
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Authorizes 20-year rental assistance contract renewals for rural housing projects upon owner request, and allows "decoupling" of rental assistance from properties when loan restructuring is not feasible
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Expands Section 504 home repair loans to include low-income applicants (not just very low-income), increases the grant limit from $7,500 to $15,000, and reserves 60% of funds for very low-income applicants
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Extends Section 502 single-family loan terms from 33 to 40 years, allows accessory dwelling units to be leased with rental income counting toward loan qualification, and releases original borrowers from liability when loans are assumed
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Requires the Secretary of Agriculture to complete loan application eligibility determinations within 90 days and authorizes appropriations for FY 2026-2030 for Rural Housing Service staffing, IT upgrades, and technology modernization
Legislative Description
Rural Housing Service Reform Act of 2025
Housing and community development
Last Action
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
8/12/2025