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S. 1260119th CongressIn committeeLatest action Apr 2, 2025Decoded by AI · checked against the record
Official title: Rural Housing Service Reform Act of 2025
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
S. 1260 updates USDA rural housing programs, raising repair loan limits and adding tribal lending and tenant protections.
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S. 1260 updates and expands USDA rural housing programs, making technical fixes to foreclosure and IT systems, permanently allowing loan restructuring on aging rural apartment buildings, and requiring advance notice to tenants and landlords before a property's loan matures. It also raises the Section 504 minor home repair loan/grant limit from $7,500 to $15,000, creates a new lending program for Native-owned CDFIs, extends loan terms to 40 years, and allows accessory dwelling units and home-based child care businesses to count toward loan eligibility.
The bill affects rural homeowners, renters, landlords of USDA-financed apartment buildings, nonprofit housing organizations, Native American and Alaska Native communities, and USDA's Rural Housing Service.
The changes update existing rural housing finance rules and add reporting requirements, consumer protections, and oversight without creating major new entitlements.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.