Senator Smith has been a great partner as we develop this legislation over the past several years, working together to address the unique housing challenges facing rural communities across the country. This bill provides the first comprehensive update to USDA's rural housing programs in more than a decade. Across rural America, thousands of affordable housing units financed through USDA's Section 515 program are reaching the end of their mortgage terms. When these mortgages mature, the rental assistance which is tied to them often disappears. (01:44–01:53)
CLAIM
Asserts that the bill updates USDA's rural housing programs for the first time in over ten years.
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