WASHINGTON (December 13, 2018) – (RealEstateRama) — With the House voting this evening to pass the 2018 Farm Bill, the definition of the Rural Housing Service will be extended through the 2030 Census. President Trump is expected to sign the legislation into law in the coming days. Without Congressional action, the RHS definition would have expired in 2020.
Shannon McGahn, Senior Vice President of Government Affairs for the National Association of Realtors®, applauded Congress for taking action to extend the critical program, which provides protections for millions of people living in Rural America.
“Roughly 20 percent of the U.S. population lives in rural areas, and nearly all of the counties with the highest poverty rates in America are rural.
“The Rural Housing Service provides a vital benefit to hundreds of thousands of families through the single-family housing loan programs, while also offering rental assistance in 274,000 affordable properties across the country.
“NAR has long urged Congress to renew the RHS definition in order to avoid jeopardizing valuable resources for countless rural communities. America’s 1.3 million Realtors® are pleased to see the House and Senate this week take action to extend the RHS definition through 2030, and we applaud Congress for providing critical certainty to families and homeowners throughout rural America.”
Media Contact: Wesley Shaw 202-383-1193