House Passes Rural Housing Bill
By A. J. Johnson & Caitlin Jones
1 min read
The U.S. House of Representatives on 1/23/08 approved a bill (H.R. 3873) that would direct USDA’s Rural Housing Service to make administrative and procedural changes to expedite approvals of applications for transfers of ownership of RHS Section 515 rural rental housing properties.
The measure would also require USDA to consult with the IRS and HUD to simplify the coordination of rules, regulations, forms, and approval requirements for Section 515 projects assisted by housing tax credits. In addition, it would require state Rural Development offices, after so many days of inaction, to transfer unprocessed completed applications to the national RHS office for processing.
