118 HR 7238 IH: Promote Affordable Rural Housing Act U.S. House of Representatives 2024-02-05 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS2d SessionH. R. 7238IN THE HOUSE OF REPRESENTATIVESFebruary 5, 2024Mr. Nunn of Iowa (for himself and Mr. Nickel) introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans.

1.

Short title

This Act may be cited as the Promote Affordable Rural Housing Act.

2.

Financial assistance to nonprofit organizations to provide sites for rural housing for low- and moderate-income families

Section 524(a)(1) of the Housing Act of 1949 (42 U.S.C. 1490d(a)(1)) is amended—(1)in the first sentence, by inserting after development of land the following: , including for activities necessary for the development of land, such as surveying, architecture, and engineering,; and(2)in the second sentence—(A)by striking two years and inserting five years; and(B)by striking or within such additional period as may be authorized by the Secretary in any case as being necessary to carry out the purposes of this section.