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This bill establishes a permanent rural housing preservation and revitalization program under the Housing Act of 1949, targeting multifamily rental housing projects financed through USDA rural housing loans. The program authorizes the Secretary of Agriculture to restructure maturing loans through interest reduction, payment deferral, debt subordination, and other financial assistance, while requiring owners to maintain properties as safe and affordable housing. It also extends rental assistance contracts for up to 20 years, provides technical assistance grants to nonprofits and public housing agencies, and expands eligibility for rural housing vouchers to households in affected properties. The bill authorizes $200 million annually for fiscal years 2024–2028 to implement these provisions.
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