http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_HR_4002.html?rev=21123 <p>H.R. 4002 would establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949.</p> <h2 id="toc0"> Detailed Summary </h2> <p>Rural Housing Preservation Act of 2007 - Amends the Housing Act of 1949 to require the Secretary of Agriculture to carry out a preservation program to provide financial incentives and other assistance to owners of Section 515 rural multifamily housing projects through long-term use agreements entered into between the project owners and the Secretary.</p> <p>(A Section 515 project is one involving housing and related facilities for elderly persons and families or other persons and families of low income.)&lt;br&gt;</p> <p>Authorizes the Secretary to give priority to applications for eligible projects located on tribal trust lands or other Indian areas, in colonias, or in other small, poor, low-income communities.</p> <p>Requires the Secretary to prepare and approve a long-term viability plan for each eligible project for which the owner requests to participate. Allows the Secretary, subject to certain conditions, to offer a project owner a financial restructuring plan, based on the long-term viability plan, and specified project preservation incentives.</p> <p>Specifies compliance requirements for rents for any eligible households residing in a dwelling unit in any preserved Section 515 project, including: (1) a disregard for certain earned income for residents; and (2) phase-in of rent increases.</p> <p>Establishes conditions that makes certain project owners ineligible to participate in the preservation program.</p> <p>Requires the Secretary to make rural preservation and rural tenant protection vouchers available to certain eligible households.</p> <p>Requires the Secretary to give priority, in entering into contracts involving financing for new construction of a Section 515 project, for projects located in eligible rural areas needing affordable low-income rental housing because of prepayment of Section 515 loans.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 3/25/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on Housing and Community Opportunity.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 21123@http://www.washingtonwatch.com Tue, 01 Apr 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_4002.html 3/25/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on Housing and Community Opportunity. 34144@http://www.washingtonwatch.com Tue, 25 Mar 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_4002.html?rev=18620 <p>H.R. 4002 would establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949.</p> <h2 id="toc4"> Detailed Summary </h2> <p>Rural Housing Preservation Act of 2007 - Amends the Housing Act of 1949 to require the Secretary of Agriculture to carry out a preservation program to provide financial incentives and other assistance to owners of Section 515 rural multifamily housing projects through long-term use agreements entered into between the project owners and the Secretary.</p> <p>(A Section 515 project is one involving housing and related facilities for elderly persons and families or other persons and families of low income.)&lt;br&gt;</p> <p>Authorizes the Secretary to give priority to applications for eligible projects located on tribal trust lands or other Indian areas, in colonias, or in other small, poor, low-income communities.</p> <p>Requires the Secretary to prepare and approve a long-term viability plan for each eligible project for which the owner requests to participate. Allows the Secretary, subject to certain conditions, to offer a project owner a financial restructuring plan, based on the long-term viability plan, and specified project preservation incentives.</p> <p>Specifies compliance requirements for rents for any eligible households residing in a dwelling unit in any preserved Section 515 project, including: (1) a disregard for certain earned income for residents; and (2) phase-in of rent increases.</p> <p>Establishes conditions that makes certain project owners ineligible to participate in the preservation program.</p> <p>Requires the Secretary to make rural preservation and rural tenant protection vouchers available to certain eligible households.</p> <p>Requires the Secretary to give priority, in entering into contracts involving financing for new construction of a Section 515 project, for projects located in eligible rural areas needing affordable low-income rental housing because of prepayment of Section 515 loans.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>Latest Major Action: 10/30/2007: Referred to House committee. Status: Referred to the House Committee on Financial Services.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 18620@http://www.washingtonwatch.com Fri, 15 Feb 2008 00:00:00 EST http://www.washingtonwatch.com/bills/history/110_HR_4002.html?rev=12875 <p>H.R. 4002 would establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949.</p> <h2 id="toc8"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>(Log in to edit the wiki and be the first to update the status of the bill!)</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 12875@http://www.washingtonwatch.com Wed, 31 Oct 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_4002.html?rev=12876 <p>H.R. 4002 would establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949.</p> <h2 id="toc12"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc13"> Status of the Legislation </h2> <p>Latest Major Action: 10/30/2007: Referred to House committee. Status: Referred to the House Committee on Financial Services.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc14"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc15"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 12876@http://www.washingtonwatch.com Wed, 31 Oct 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_4002.html 10/30/2007: Referred to House committee. Status: Referred to the House Committee on Financial Services. 30363@http://www.washingtonwatch.com Tue, 30 Oct 2007 00:00:00 EDT