Sponsors (2)
The bill directs substantial, targeted federal resources and program changes to preserve affordable rural rental housing and give tenants more notice and voice, but it increases federal spending, creates implementation complexity, and leaves some tenant protections dependent on future appropriations or agency discretion.
Low-income renters in rural and USDA-financed multifamily projects will face lower risk of displacement because the bill expands preservation tools (loan restructuring, rental-assistance renewals, and rural vouchers) to keep units affordable when loans mature or subsidies end.
Tenants (including farmworker households and women farmworker representatives) gain stronger protections and voice through annual plain-language notices before loan maturities and formal advisory/representation requirements that improve targeting of preservation actions.
The bill provides predictable, dedicated federal support for preservation by authorizing $200 million per year (FY2026–2030) to fund preservation actions, increasing program stability for preserving affordable rural housing.
Taxpayers will face increased federal spending (notably $200 million/year FY2026–2030 plus $50 million for modernization and expanded voucher use), raising budgetary pressure and potential deficit or offset needs.
Many tenant protections and renewed rental assistance are conditioned on annual appropriations or left to agency discretion, so tenants and owners could lose support or face uncertainty if Congress does not continue funding or the Secretary chooses not to renew.
Implementation complexity and additional administrative burdens for USDA and state agencies (new plans, approvals, voucher administration, reporting, and IT upgrades) could delay assistance and reduce on-the-ground effectiveness.
Based on analysis of 7 sections of legislative text.
Creates a permanent USDA rural housing preservation program to restructure loans, extend/renew rental assistance and vouchers, require tenant notices, fund tech upgrades, and form an advisory committee.
Introduced March 6, 2025 by Jeanne Shaheen · Last progress March 6, 2025
Creates a permanent rural multifamily Housing Preservation and Revitalization Program to preserve and revitalize rental properties financed under USDA sections 514, 515, and 516 by allowing loan restructuring, offering extended rental assistance, and protecting tenants from displacement. Requires advance written notices to owners and tenants, expands eligibility for rural housing vouchers, clarifies rental assistance renewal authority, directs $50 million for USDA multifamily housing technology upgrades, and mandates a USDA plan plus an advisory committee to guide preservation actions.