[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 2790 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  1st Session
                                S. 2790

       To reform rural housing programs, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 13, 2023

 Ms. Smith (for herself and Mr. Rounds) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
       To reform rural housing programs, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Rural Housing 
Service Reform Act of 2023''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
                   TITLE I--STREAMLINING AND UPDATES

Sec. 101. Application of multifamily mortgage foreclosure procedures to 
                            multifamily mortgages held by the Secretary 
                            of Agriculture and preservation of the 
                            rental assistance contract upon 
                            foreclosure.
Sec. 102. Study on rural housing loans for housing for low- and 
                            moderate-income families.
Sec. 103. Authorization of appropriations for staffing needs and 
                            information technology upgrades.
        TITLE II--RURAL HOUSING PRESERVATION AND REVITALIZATION

Sec. 201. Permanent establishment of housing preservation and 
                            revitalization program.
Sec. 202. Eligibility for rural housing vouchers.
Sec. 203. Amount of voucher assistance.
Sec. 204. Rental assistance contract authority.
Sec. 205. Funding for technical improvements.
                    TITLE III--NATIVE CDFI RELENDING

Sec. 301. Native CDFI relending program.
                 TITLE IV--SECTION 504 LOANS AND GRANTS

Sec. 401. Modifications to loans and grants for minor improvements to 
                            farm housing and buildings.
         TITLE V--RURAL COMMUNITY DEVELOPMENT INITIATIVE GRANTS

Sec. 501. Rural Community Development Initiative.
                           TITLE VI--REPORTS

Sec. 601. Annual report on rural housing programs.
Sec. 602. GAO report on Rural Housing Service technology.
                TITLE VII--RURAL HOUSING VOUCHER PROGRAM

Sec. 701. Adjustment to rural development voucher amount.
            TITLE VIII--TRANSFERS TO NONPROFIT ORGANIZATIONS

Sec. 801. Transfer of multifamily rural housing projects.
    TITLE IX--TERM OF DIRECT LOANS MADE BY THE RURAL HOUSING SERVICE

Sec. 901. Extension of loan term.

                   TITLE I--STREAMLINING AND UPDATES

SEC. 101. APPLICATION OF MULTIFAMILY MORTGAGE FORECLOSURE PROCEDURES TO 
              MULTIFAMILY MORTGAGES HELD BY THE SECRETARY OF 
              AGRICULTURE AND PRESERVATION OF THE RENTAL ASSISTANCE 
              CONTRACT UPON FORECLOSURE.

    (a) Multifamily Mortgage Procedures.--Section 363 of the 
Multifamily Mortgage Foreclosure Act of 1981 (12 U.S.C. 3702) is 
amended--
            (1) in paragraph (2)--
                    (A) in subparagraph (D), by striking ``and'' at the 
                end;
                    (B) in subparagraph (E), by striking the period at 
                the end and inserting ``; or''; and
                    (C) by adding at the end the following:
                    ``(F) section 514, 515, or 538 of the Housing Act 
                of 1949 (42 U.S.C. 1484, 1485, 1490p).''; and
            (2) in paragraph (10)--
                    (A) by striking ``means the Secretary'' and 
                inserting the following: ``means--
                    ``(A) the Secretary'';
                    (B) in subparagraph (A), as so designated, by 
                striking the period at the end and inserting ``, with 
                respect to a multifamily mortgage described in 
                subparagraph (A), (B), (C), (D), or (E) of paragraph 
                (2); and''; and
                    (C) by adding at the end the following:
                    ``(B) the Secretary of Agriculture, with respect to 
                a multifamily mortgage described in paragraph 
                (2)(F).''.
    (b) Preservation of Contract.--Section 521(d) of the Housing Act of 
1949 (42 U.S.C. 1490a(d)) is amended by adding at the end the 
following:
    ``(3) Notwithstanding any other provision of law in managing and 
disposing of any multifamily property that is owned or has a mortgage 
held by the Secretary, and during the process of foreclosure on any 
property with a contract for rental assistance under this section--
            ``(A) the Secretary shall maintain any rental assistance 
        payments that are attached to any dwelling units in the 
        property; and
            ``(B) the rental assistance contract may be used to provide 
        further assistance to existing projects under 514, 515, or 
        516.''.

SEC. 102. STUDY ON RURAL HOUSING LOANS FOR HOUSING FOR LOW- AND 
              MODERATE-INCOME FAMILIES.

    Not later than 6 months after the date of enactment of this Act, 
the Secretary of Agriculture shall conduct a study and submit to 
Congress a publicly available report on the loan program under section 
521 of the Housing Act of 1949 (42 U.S.C. 1490a), including--
            (1) the total amount provided by the Secretary in subsidies 
        under such section 521 to borrowers with loans made pursuant to 
        section 502 of such Act (42 U.S.C. 1472);
            (2) how much of the subsidies described in paragraph (1) 
        are being recaptured; and
            (3) the amount of time and costs associated with 
        recapturing those subsidies.

SEC. 103. AUTHORIZATION OF APPROPRIATIONS FOR STAFFING NEEDS AND 
              INFORMATION TECHNOLOGY UPGRADES.

    There is authorized to be appropriated to the Secretary of 
Agriculture for each of fiscal years 2024 through 2028 such sums as may 
be necessary for increased staffing needs and information technology 
upgrades to support all Rural Housing Service programs.

        TITLE II--RURAL HOUSING PRESERVATION AND REVITALIZATION

SEC. 201. PERMANENT ESTABLISHMENT OF HOUSING PRESERVATION AND 
              REVITALIZATION PROGRAM.

    Title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is 
amended by adding at the end the following:

``SEC. 545. HOUSING PRESERVATION AND REVITALIZATION PROGRAM.

    ``(a) Establishment.--The Secretary shall carry out a program under 
this section for the preservation and revitalization of multifamily 
rental housing projects financed under section 514, 515, or 516.
    ``(b) Notice of Maturing Loans.--
            ``(1) To owners.--On an annual basis, the Secretary shall 
        provide written notice to each owner of a property financed 
        under section 514, 515, or 516 that will mature within the 4-
        year period beginning upon the provision of the notice, setting 
        forth the options and financial incentives that are available 
        to facilitate the extension of the loan term or the option to 
        decouple a rental assistance contract pursuant to subsection 
        (f).
            ``(2) To tenants.--
                    ``(A) In general.--On an annual basis, for each 
                property financed under section 514, 515, or 516, not 
                later than the date that is 2 years before the date 
                that the loan will mature, the Secretary shall provide 
                written notice to each household residing in the 
                property that informs them of--
                            ``(i) the date of the loan maturity;
                            ``(ii) the possible actions that may happen 
                        with respect to the property upon that 
                        maturity; and
                            ``(iii) how to protect their right to 
                        reside in federally assisted housing, or how to 
                        secure housing voucher, after that maturity.
                    ``(B) Language.--Notice under this paragraph shall 
                be provided in plain English and shall be translated to 
                other languages in the case of any property located in 
                an area in which a significant number of residents 
                speak such other languages.
    ``(c) Loan Restructuring.--Under the program under this section, in 
any circumstance in which the Secretary proposes a restructuring to an 
owner or an owner proposes a restructuring to the Secretary, the 
Secretary may restructure such existing housing loans, as the Secretary 
considers appropriate, for the purpose of ensuring that those projects 
have sufficient resources to preserve the projects to provide safe and 
affordable housing for low-income residents and farm laborers, by--
            ``(1) reducing or eliminating interest;
            ``(2) deferring loan payments;
            ``(3) subordinating, reducing, or reamortizing loan debt;
            ``(4) providing other financial assistance, including 
        advances, payments, and incentives (including the ability of 
        owners to obtain reasonable returns on investment) required by 
        the Secretary; and
            ``(5) permanently removing a portion of the housing units 
        from income restrictions when sustained vacancies have 
        occurred.
    ``(d) Renewal of Rental Assistance.--
            ``(1) In general.--When the Secretary proposes to 
        restructure a loan or agrees to the proposal of an owner to 
        restructure a loan pursuant to subsection (c), the Secretary 
        shall offer to renew the rental assistance contract under 
        section 521(a)(2) for a 20-year term that is subject to annual 
        appropriations, provided that the owner agrees to bring the 
        property up to such standards that will ensure maintenance of 
        the property as decent, safe, and sanitary housing for the full 
        term of the rental assistance contract.
            ``(2) Additional rental assistance.--With respect to a 
        project described in paragraph (1), if rental assistance is not 
        available for all households in the project for which the loan 
        is being restructured pursuant to subsection (c), the Secretary 
        may extend such additional rental assistance to unassisted 
        households at that project as is necessary to make the project 
        safe and affordable to low-income households.
    ``(e) Restrictive Use Agreements.--
            ``(1) Requirement.--As part of the preservation and 
        revitalization agreement for a project, the Secretary shall 
        obtain a restrictive use agreement that is recorded and 
        obligates the owner to operate the project in accordance with 
        this title.
            ``(2) Term.--
                    ``(A) No extension of rental assistance contract.--
                Except when the Secretary enters into a 20-year 
                extension of the rental assistance contract for a 
                project, the term of the restrictive use agreement for 
                the project shall be consistent with the term of the 
                restructured loan for the project.
                    ``(B) Extension of rental assistance contract.--If 
                the Secretary enters into a 20-year extension of the 
                rental assistance contract for a project, the term of 
                the restrictive use agreement for the project shall be 
                for the longer of--
                            ``(i) 20 years; or
                            ``(ii) the remaining term of the loan for 
                        that project.
                    ``(C) Termination.--The Secretary may terminate the 
                20-year use restrictive use agreement for a project 
                before the end of the term of the agreement if the 20-
                year rental assistance contract for the project with 
                the owner is terminated at any time for reasons outside 
                the control of the owner.
    ``(f) Decoupling of Rental Assistance.--
            ``(1) Renewal of rental assistance contract.--If the 
        Secretary determines that a maturing loan for a project cannot 
        reasonably be restructured in accordance with subsection (c) 
        because it is not financially feasible or the owner does not 
        agree with the proposed restructuring, and the project was 
        operating with rental assistance under section 521 and the 
        recipient is a borrower under section 514 or 515, the Secretary 
        may renew the rental assistance contract, notwithstanding any 
        provision of section 521, for a term, subject to annual 
        appropriations, of 20 years.
            ``(2) Additional rental assistance.--With respect to a 
        project described in paragraph (1), if rental assistance is not 
        available for all households in the project for which the loan 
        is being restructured pursuant to subsection (c), the Secretary 
        may extend such additional rental assistance to unassisted 
        households at that project as is necessary to make the project 
        safe and affordable to low-income households.
            ``(3) Rents.--Any agreement to extend the term of the 
        rental assistance contract under section 521 for a project 
        shall obligate the owner to continue to maintain the project as 
        decent, safe and sanitary housing and to operate the 
        development as affordable housing in a manner that meets the 
        goals of this title, except that the Secretary shall establish 
        standards for the setting of rents.
            ``(4) Conditions for approval.--
                    ``(A) Plan.--Before the approval of a rental 
                assistance contract authorized under this section, the 
                Secretary shall require the owner to submit to the 
                Secretary a plan that identifies financing sources and 
                a timetable for renovations and improvements determined 
                to be necessary by the Secretary to maintain and 
                preserve the project.
                    ``(B) Automatic approval.--If a plan submitted 
                under subparagraph (A) is not acted upon by the 
                Secretary within 30 days of the submission, the rental 
                assistance contract is automatically approved for not 
                more than a 1-year period.
    ``(g) Multifamily Housing Transfer Technical Assistance.--Under the 
program under this section, the Secretary may provide grants to 
qualified nonprofit organizations and public housing agencies to 
provide technical assistance, including financial and legal services, 
to borrowers under loans under this title for multifamily housing to 
facilitate the acquisition or preservation of such multifamily housing 
properties in areas where the Secretary determines there is a risk of 
loss of affordable housing.
    ``(h) Administrative Expenses.--Of any amounts made available for 
the program under this section for any fiscal year, the Secretary may 
use not more than $1,000,000 for administrative expenses for carrying 
out such program.
    ``(i) Authorization of Appropriations.--There is authorized to be 
appropriated for the program under this section $200,000,000 for each 
of fiscal years 2024 through 2028.
    ``(j) Rulemaking.--
            ``(1) In general.--Not later than 180 days after the date 
        of enactment of the Rural Housing Service Reform Act of 2023, 
        the Secretary shall--
                    ``(A) publish an advance notice of proposed 
                rulemaking; and
                    ``(B) consult with appropriate stakeholders.
            ``(2) Interim final rule.--Not later than 1 year after the 
        date of enactment of the Rural Housing Service Reform Act of 
        2023, the Secretary shall publish an interim final rule to 
        carry out this section.''.

SEC. 202. ELIGIBILITY FOR RURAL HOUSING VOUCHERS.

    Section 542 of the Housing Act of 1949 (42 U.S.C. 1490r) is amended 
by adding at the end the following:
    ``(c) Eligibility of Households in Sections 514, 515, and 516 
Projects.--The Secretary may provide rural housing vouchers under this 
section for any low-income household (including those not receiving 
rental assistance) residing for a term longer than the remaining term 
of their lease that is in effect on the date of mortgage maturity, in a 
property financed with a loan under section 514 or 515 or a grant under 
section 516 that has--
            ``(1) been prepaid with or without restrictions imposed by 
        the Secretary pursuant to section 502(c)(5)(G)(ii)(I);
            ``(2) been foreclosed; or
            ``(3) matured after September 30, 2005.''.

SEC. 203. AMOUNT OF VOUCHER ASSISTANCE.

    Notwithstanding any other provision of law, in the case of any 
rural housing voucher provided pursuant to section 542 of the Housing 
Act of 1949 (42 U.S.C. 1490r), the amount of the monthly assistance 
payment for the household on whose behalf the assistance is provided 
shall be determined as provided in subsection (a) of such section 542, 
including providing for interim and annual review of the voucher amount 
in the event of a change in household composition or income or rental 
rate.

SEC. 204. RENTAL ASSISTANCE CONTRACT AUTHORITY.

    Section 521(d) of the Housing Act of 1949 (42 U.S.C. 1490a(d)), as 
amended by section 101(b), is amended--
            (1) in paragraph (1)--
                    (A) by redesignating subparagraphs (B) and (C) as 
                subparagraphs (C) and (D), respectively;
                    (B) by inserting after subparagraph (A) the 
                following:
            ``(B) upon request of an owner of a project financed under 
        section 514 or 515, the Secretary is authorized to enter into 
        renewal of such agreements for a period of 20 years or the term 
        of the loan, whichever is shorter, subject to amounts made 
        available in appropriations Acts;'';
                    (C) in subparagraph (C), as so redesignated, by 
                striking ``subparagraph (A)'' and inserting 
                ``subparagraphs (A) and (B)''; and
                    (D) in subparagraph (D), as so redesignated, by 
                striking ``subparagraphs (A) and (B)'' and inserting 
                ``subparagraphs (A), (B), and (C)'';
            (2) in paragraph (2), by striking ``shall'' and inserting 
        ``may''; and
            (3) by adding at the end the following:
    ``(4) In the case of any rental assistance contract authority that 
becomes available because of the termination of assistance on behalf of 
an assisted family--
            ``(A) at the option of the owner of the rental project, the 
        Secretary shall provide the owner a period of not more than 6 
        months before unused assistance is made available pursuant to 
        subparagraph (B) during which the owner may use such assistance 
        authority to provide assistance on behalf of an eligible 
        unassisted family that--
                    ``(i) is residing in the same rental project that 
                the assisted family resided before the termination; or
                    ``(ii) newly occupies a dwelling unit in the rental 
                project during that 6-month period; and
            ``(B) except for assistance used as provided in 
        subparagraph (A), the Secretary shall use such remaining 
        authority to provide assistance on behalf of eligible families 
        residing in other rental projects originally financed under 
        section 514, 515, or 516.''.

SEC. 205. FUNDING FOR TECHNICAL IMPROVEMENTS.

    (a) Authorization of Appropriations.--There is authorized to be 
appropriated to the Secretary of Agriculture such sums as may be 
necessary for fiscal year 2024 for improving the technology of the 
Department of Agriculture used to process and manage housing loans.
    (b) Timeline.--The improvements required under subsection (a) shall 
be made within the 5-year period beginning upon the appropriation of 
amounts under subsection (a), and those amounts shall remain available 
until the expiration of that 5-year period.

                    TITLE III--NATIVE CDFI RELENDING

SEC. 301. NATIVE CDFI RELENDING PROGRAM.

    Section 502 of the Housing Act of 1949 (42 U.S.C. 1472) is amended 
by adding at the end the following:
    ``(j) Set Aside for Native Community Development Financial 
Institutions.--
            ``(1) Definitions.--In this subsection--
                    ``(A) the term `Alaska Native' has the meaning 
                given the term `Native' in section 3(b) of the Alaska 
                Native Claims Settlement Act (43 U.S.C. 1602(b));
                    ``(B) the term `appropriate congressional 
                committees' means--
                            ``(i) the Committee on Agriculture of the 
                        Senate;
                            ``(ii) the Committee on Indian Affairs of 
                        the Senate;
                            ``(iii) the Committee on Banking, Housing, 
                        and Urban Affairs of the Senate;
                            ``(iv) the Committee on Agriculture of the 
                        House of Representatives;
                            ``(v) the Committee on Natural Resources of 
                        the House of Representatives; and
                            ``(vi) the Committee on Financial Services 
                        of the House of Representatives;
                    ``(C) the term `community development financial 
                institution' has the meaning given the term in section 
                103 of the Community Development Banking and Financial 
                Institutions Act of 1994 (12 U.S.C. 4702);
                    ``(D) the term `Indian Tribe' has the meaning given 
                the term `Indian tribe' in section 4 of the Native 
                American Housing Assistance and Self-Determination Act 
                of 1996 (25 U.S.C. 4103);
                    ``(E) the term `Native community development 
                financial institution' means an entity--
                            ``(i) that has been certified as a 
                        community development financial institution by 
                        the Secretary of the Treasury;
                            ``(ii) that is not less than 51 percent 
                        owned or controlled by members of Indian 
                        Tribes, Alaska Native communities, or Native 
                        Hawaiian communities; and
                            ``(iii) for which not less than 51 percent 
                        of the activities of the entity serve Indian 
                        Tribes, Alaska Native communities, or Native 
                        Hawaiian communities;
                    ``(F) the term `Native Hawaiian' has the meaning 
                given the term in section 801 of the Native American 
                Housing Assistance and Self-Determination Act of 1996 
                (25 U.S.C. 4221); and
                    ``(G) the term `priority Tribal land' means--
                            ``(i) any land located within the 
                        boundaries of--
                                    ``(I) an Indian reservation, 
                                pueblo, or rancheria; or
                                    ``(II) a former reservation within 
                                Oklahoma;
                            ``(ii) any land not located within the 
                        boundaries of an Indian reservation, pueblo, or 
                        rancheria, the title to which is held--
                                    ``(I) in trust by the United States 
                                for the benefit of an Indian Tribe or 
                                an individual Indian;
                                    ``(II) by an Indian Tribe or an 
                                individual Indian, subject to 
                                restriction against alienation under 
                                laws of the United States; or
                                    ``(III) by a dependent Indian 
                                community;
                            ``(iii) any land located within a region 
                        established pursuant to section 7(a) of the 
                        Alaska Native Claims Settlement Act (43 U.S.C. 
                        1606(a));
                            ``(iv) Hawaiian Home Lands, as defined in 
                        section 801 of the Native American Housing 
                        Assistance and Self-Determination Act of 1996 
                        (25 U.S.C. 4221); or
                            ``(v) those areas or communities designated 
                        by the Assistant Secretary of Indian Affairs of 
                        the Department of the Interior that are near, 
                        adjacent, or contiguous to reservations where 
                        financial assistance and social service 
                        programs are provided to Indians because of 
                        their status as Indians.
            ``(2) Purpose.--The purpose of this subsection is to--
                    ``(A) increase homeownership opportunities for 
                Indian Tribes, Alaska Native Communities, and Native 
                Hawaiian communities in rural areas; and
                    ``(B) provide capital to Native community 
                development financial institutions to increase the 
                number of mortgage transactions carried out by those 
                institutions.
            ``(3) Set aside for native cdfis.--Of amounts appropriated 
        to make direct loans under this section for each fiscal year, 
        the Secretary may use not more than $50,000,000 to make direct 
        loans to Native community development financial institutions in 
        accordance with this subsection.
            ``(4) Application requirements.--A Native community 
        development financial institution desiring a loan under this 
        subsection shall demonstrate that the institution--
                    ``(A) can provide the non-Federal cost share 
                required under paragraph (6); and
                    ``(B) is able to originate and service loans for 
                single family homes.
            ``(5) Lending requirements.--A Native community development 
        financial institution that receives a loan pursuant to this 
        subsection shall--
                    ``(A) use those amounts to make loans to 
                borrowers--
                            ``(i) who otherwise meet the requirements 
                        for a loan under this section; and
                            ``(ii) who--
                                    ``(I) are members of an Indian 
                                Tribe, an Alaska Native community, or a 
                                Native Hawaiian community; or
                                    ``(II) maintain a household in 
                                which not less 1 member is a member of 
                                an Indian Tribe, an Alaska Native 
                                community, or a Native Hawaiian 
                                community; and
                    ``(B) in making loans under subparagraph (A), give 
                priority to borrowers described in that subparagraph 
                who are residing on priority Tribal land.
            ``(6) Non-federal cost share.--
                    ``(A) In general.--A Native community development 
                financial institution that receives a loan under this 
                section shall be required to match not less than 20 
                percent of the amount received.
                    ``(B) Waiver.--In the case of a loan for which 
                amounts are used to make loans to borrowers described 
                in paragraph (5)(B), the Secretary shall waive the non-
                Federal cost share requirement described in 
                subparagraph (A) with respect to those loan amounts.
            ``(7) Reporting.--
                    ``(A) Annual report by native cdfis.--Each Native 
                community development financial institution that 
                receives a loan pursuant to this subsection shall 
                submit an annual report to the Secretary on the lending 
                activities of the institution using the loan amounts, 
                which shall include--
                            ``(i) a description of the outreach efforts 
                        of the institution in local communities to 
                        identify eligible borrowers;
                            ``(ii) a description of how the institution 
                        leveraged additional capital to reach 
                        prospective borrowers;
                            ``(iii) the number of loan applications 
                        received, approved, and deployed;
                            ``(iv) the average loan amount;
                            ``(v) the number of finalized loans that 
                        were made on Tribal trust lands and not on 
                        Tribal trust lands; and
                            ``(vi) the number of finalized loans that 
                        were made on priority Tribal land and not 
                        priority Tribal land.
                    ``(B) Annual report to congress.--Not later than 1 
                year after the date of enactment of this subsection, 
                and every year thereafter, the Secretary shall submit 
                to the appropriate congressional communities a report 
                that includes--
                            ``(i) a list of loans made to Native 
                        community development financial institutions 
                        pursuant to this subsection, including the name 
                        of the institution and the loan amount;
                            ``(ii) the percentage of loans made under 
                        this section to members of Indian Tribes, 
                        Alaska Native communities, and Native Hawaiian 
                        communities, respectively, including a 
                        breakdown of loans made to households residing 
                        on and not on Tribal trust lands; and
                            ``(iii) the average loan amount made by 
                        Native community development financial 
                        institutions pursuant to this subsection.
                    ``(C) Evaluation of program.--Not later than 3 
                years after the date of enactment of this subsection, 
                the Secretary and the Secretary of the Treasury shall 
                conduct an evaluation of and submit to the appropriate 
                congressional committees a report on the program under 
                this subsection, which shall--
                            ``(i) evaluate the effectiveness of the 
                        program, including an evaluation of the demand 
                        for loans under the program; and
                            ``(ii) include recommendations relating to 
                        the program, including whether--
                                    ``(I) the program should be 
                                expanded to such that all community 
                                development financial institutions may 
                                make loans under the program to the 
                                borrowers described in paragraph (5); 
                                and
                                    ``(II) the set aside amount 
                                paragraph (3) should be modified in 
                                order to match demand under the 
                                program.
            ``(8) Grants for operational support.--
                    ``(A) In general.--The Secretary shall make grants 
                to Native community development financial institutions 
                that receive a loan under this section to provide 
                operational support and other related services to those 
                institutions, subject to--
                            ``(i) to the satisfactory performance, as 
                        determined by the Secretary, of a Native 
                        community development financial institution in 
                        carrying out this section; and
                            ``(ii) the availability of funding.
                    ``(B) Amount.--A Native community development 
                financial institution that receives a loan under this 
                section shall be eligible to receive a grant described 
                in subparagraph (A) in an amount equal to 20 percent of 
                the direct loan amount received by the Native community 
                development financial institution under the program 
                under this section as of the date on which the direct 
                loan is awarded.
            ``(9) Outreach and technical assistance.--There is 
        authorized to be appropriated to the Secretary $1,000,000 for 
        each of fiscal years 2024, 2025, and 2026--
                    ``(A) to provide technical assistance to Native 
                community development financial institutions--
                            ``(i) relating to homeownership and other 
                        housing-related assistance provided by the 
                        Secretary; and
                            ``(ii) to assist those institutions to 
                        perform outreach to eligible homebuyers 
                        relating to the loan program under this 
                        section; or
                    ``(B) to provide funding to a national organization 
                representing Native American housing interests to 
                perform outreach and provide technical assistance as 
                described in clauses (i) and (ii), respectively, of 
                subparagraph (A).
            ``(10) Administrative costs.--In addition to other 
        available funds, the Secretary may use not more than 3 percent 
        of the amounts made available to carry out this subsection for 
        administration of the programs established under this 
        subsection.''.

                 TITLE IV--SECTION 504 LOANS AND GRANTS

SEC. 401. MODIFICATIONS TO LOANS AND GRANTS FOR MINOR IMPROVEMENTS TO 
              FARM HOUSING AND BUILDINGS.

    Section 504(a) of the Housing Act of 1949 (42 U.S.C. 1474) is 
amended by striking ``$7,500'' and inserting ``$15,000''.

         TITLE V--RURAL COMMUNITY DEVELOPMENT INITIATIVE GRANTS

SEC. 501. RURAL COMMUNITY DEVELOPMENT INITIATIVE.

    Subtitle E of the Consolidated Farm and Rural Development Act (7 
U.S.C. 2009 et seq.) is amended by adding at the end the following:

``SEC. 381O. RURAL COMMUNITY DEVELOPMENT INITIATIVE.

    ``(a) Definitions.--In this section:
            ``(1) Eligible entity.--The term `eligible entity' means--
                    ``(A) a private, nonprofit community-based housing 
                or community development organization;
                    ``(B) a rural community; or
                    ``(C) a federally recognized Indian Tribe.
            ``(2) Eligible intermediary.--The term `eligible 
        intermediary' means a qualified--
                    ``(A) private, nonprofit organization; or
                    ``(B) public organization.
    ``(b) Establishment.--The Secretary shall establish a Rural 
Community Development Initiative, under which the Secretary shall 
provide grants to eligible intermediaries to carry out programs to 
provide financial and technical assistance to eligible entities to 
develop the capacity and ability of eligible entities to carry out 
projects to improve housing, community facilities, and community and 
economic development projects in rural areas.
    ``(c) Amount of Grants.--The amount of a grant provided to an 
eligible intermediary under this section shall be not more than 
$250,000.
    ``(d) Matching Funds.--
            ``(1) In general.--An eligible intermediary receiving a 
        grant under this section shall provide matching funds from 
        other sources, including Federal funds for related activities, 
        in an amount not less than the amount of the grant.
            ``(2) Waiver.--The Secretary may waive paragraph (1) with 
        respect to a project that would be carried out in a 
        persistently poor rural region, as determined by the 
        Secretary.''.

                           TITLE VI--REPORTS

SEC. 601. ANNUAL REPORT ON RURAL HOUSING PROGRAMS.

    Title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.), as 
amended by this Act, is amended by adding at the end the following:

``SEC. 546. ANNUAL REPORT.

    ``(a) In General.--The Secretary shall submit to the appropriate 
committees of Congress and publish on the website of the Department of 
Agriculture an annual report on rural housing programs carried out 
under this title, which shall include significant details on the health 
of Rural Housing Service programs, including--
            ``(1) raw data sortable by programs and by region regarding 
        loan performance;
            ``(2) the housing stock of those programs, including 
        information on why properties end participation in those 
        programs, such as for maturation, prepayment, foreclosure, or 
        other servicing issues; and
            ``(3) risk ratings for properties assisted under those 
        programs.
    ``(b) Protection of Information.--The data included in each report 
required under subsection (a) may be aggregated or anonymized to 
protect participant financial or personal information.''.

SEC. 602. GAO REPORT ON RURAL HOUSING SERVICE TECHNOLOGY.

    Not later than 1 year after the date of enactment of this Act, the 
Comptroller General of the United States shall submit to Congress a 
report that includes--
            (1) an analysis of how the outdated technology used by the 
        Rural Housing Service impacts participants in the programs of 
        the Rural Housing Service;
            (2) an estimate of the amount of funding that is needed to 
        modernize the technology used by the Rural Housing Service; and
            (3) an estimate of the number and type of new employees the 
        Rural Housing Service needs to modernize the technology used by 
        the Rural Housing Service.

                TITLE VII--RURAL HOUSING VOUCHER PROGRAM

SEC. 701. ADJUSTMENT TO RURAL DEVELOPMENT VOUCHER AMOUNT.

    (a) In General.--Not later than 2 years after the date of enactment 
of this Act, the Secretary of Agriculture shall issue regulations to 
establish a process for adjusting the voucher amount provided under 
section 542 of the Housing Act of 1949 (42 U.S.C. 1490r) after the 
issuance of the voucher following an interim or annual review of the 
amount of the voucher.
    (b) Interim Review.--The interim review described in subsection (a) 
shall, at the request of a tenant, allow for a recalculation of the 
voucher amount when the tenant experiences a reduction in income, 
change in family composition, or change in rental rate.
    (c) Annual Review.--
            (1) In general.--The annual review described in subsection 
        (a) shall require tenants to annually recertify the family 
        composition of the household and that the family income of the 
        household does not exceed 80 percent of the area median income 
        at a time determined by the Secretary.
            (2) Considerations.--If a tenant does not recertify the 
        family composition and family income of the household within 
        the time frame required under paragraph (1), the Secretary of 
        Agriculture--
                    (A) shall consider whether extenuating 
                circumstances caused the delay in recertification; and
                    (B) may alter associated consequences for the 
                failure to recertify based on those circumstances.
            (3) Effective date.--Following the annual review of a 
        voucher under subsection (a), the updated voucher amount shall 
        be effective on the 1st day of the month following the 
        expiration of the voucher.
    (d) Deadline.--The process established under subsection (a) shall 
require the Secretary of Agriculture to review and update the voucher 
amount described in subsection (a) for a tenant not later than 60 days 
before the end of the voucher term.

            TITLE VIII--TRANSFERS TO NONPROFIT ORGANIZATIONS

SEC. 801. TRANSFER OF MULTIFAMILY RURAL HOUSING PROJECTS.

    Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) is 
amended--
            (1) in subsection (h), by adding at the end the following:
            ``(3) Transfer to nonprofit organizations.--A nonprofit or 
        public body purchaser, including a limited partnership with a 
        general partner that is a nonprofit or is controlled by a 
        nonprofit, may purchase a property for which a loan is made or 
        insured under this section that has received a market value 
        appraisal, without addressing rehabilitation needs at the time 
        of purchase, if the purchaser--
                    ``(A) makes a commitment to address rehabilitation 
                needs during ownership and long-term use restrictions 
                on the property; and
                    ``(B) at the time of purchase, accepts long-term 
                use restrictions on the property.''; and
            (2) in subsection (w)(1), in the first sentence in the 
        matter preceding subparagraph (A), by striking ``9 percent'' 
        and inserting ``50 percent''.

    TITLE IX--TERM OF DIRECT LOANS MADE BY THE RURAL HOUSING SERVICE

SEC. 901. EXTENSION OF LOAN TERM.

    (a) In General.--Section 502(a)(2) of the Housing Act of 1949 (42 
U.S.C. 1472(a)(2)) is amended--
            (1) by inserting ``(A)'' before ``The Secretary'';
            (2) in subparagraph (A), as so designated, by striking 
        ``paragraph'' and inserting ``subparagraph''; and
            (3) by adding at the end the following:
            ``(B) The Secretary may extend the period of any loan made 
        under this section in accordance with terms and conditions as 
        the Secretary shall prescribe, but in no event shall the total 
        term of the loan exceed 40 years.''.
    (b) Application.--The amendment made under subsection (a) shall 
apply with respect to loans made under section 502 of the Housing Act 
of 1949 (42 U.S.C. 1472) before, on, or after the date of enactment of 
this Act.
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