Strategy and Investment in Rural Housing Preservation Act of 2025

S. 885 would establish a permanent rural housing preservation and revitalization program administered by the U.S. Department of Agriculture's Rural Housing Service. The bill aims to address the challenge of aging rural rental properties losing affordability when mortgages mature. Currently, when mortgages on rural rental properties financed under the Section 515 loan program expire, the rental assistance that helps keep housing affordable also expires, putting low-income rural residents at risk of displacement.

The bill would strengthen the Section 515 loan program by allowing for restructuring of existing loans and extending incentives for property owners to keep their properties affordable. It would also expand eligibility for rural housing vouchers to help low-income households maintain stable housing when properties transition. Additionally, the bill would establish an advisory committee with representatives from nonprofits, financial institutions, and farmworker organizations to help the Rural Housing Service improve its preservation efforts and provide recommendations to Congress. The bill would require the Department of Agriculture to develop implementation rules within specified timeframes to carry out these preservation and revitalization activities.