Section 1 Short title
This Act may be cited as the “Promote Affordable Rural Housing Act”.
Promote Affordable Rural Housing Act
A 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.
Sec. 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—
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
in the second sentence—
by striking “two years” and inserting “five years”; and
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”.