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.
The Rural Housing Service Reform Act of 2025 makes comprehensive changes to the U.S. Department of Agriculture's rural housing programs to preserve affordable housing and improve access to rural housing assistance. The bill requires the agency to notify property owners and tenants of maturing loans at least two years in advance and allows loans to be restructured through interest reductions, payment deferrals, and other financial assistance to keep housing affordable for low-income residents and farm workers; it also enables rental assistance to continue for up to 20 years even after loans mature. The legislation modernizes the program by establishing a Rural Community Development Initiative offering up to $250,000 grants, extending home loans to 40 years, setting a 90-day timeline for loan application reviews, requiring annual performance reporting, and allowing nonprofits to purchase rural multifamily properties more easily. Additionally, the bill expands eligibility for loan guarantees to include accessory dwelling units and child care businesses while allowing original borrowers to be released from liability when loans are assumed by new buyers.
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