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To amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans.
2/6/2024, 8:15 AM
Summary of Bill HR 7238
The 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," designated as H.R. 7238 in the 118th Congress and introduced on February 5, 2024, aims to make changes to rural housing site loans by extending their term and providing clarity on acceptable uses for these loans.
Congressional Summary of HR 7238
Promote Affordable Rural Housing Act
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.
Under the bill, the term development includes activities necessary to develop the land, such as surveying, architecture, and engineering.
Current Status of Bill HR 7238
Bill HR 7238 is currently in the status of Bill Introduced since February 5, 2024. Bill HR 7238 was introduced during Congress 118 and was introduced to the House on February 5, 2024. Bill HR 7238's most recent activity was Referred to the House Committee on Financial Services. as of February 5, 2024
Bipartisan Support of Bill HR 7238
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7238
Primary Policy Focus
Alternate Title(s) of Bill HR 7238
To amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans.
To amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans.
Comments
Sponsors and Cosponsors of HR 7238
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