H.R. 3620, Strategy and Investment in Rural Housing Preservation Act of 2019

September 6, 2019

Cost Estimate

As ordered reported by the House Committee on Financial Services on July 11, 2019

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Summary

The bill would

Authorize the appropriation of $1 billion over the 2020-2024 period for assistance to owners of housing for farm workers and rural renters
Authorize the appropriation of $50 million in 2020 for loan processing technology
Expand eligibility for rental assistance
Establish a committee to advise the Department of Agriculture on preserving farm labor and rental housing in rural areas

Estimated budgetary effects would primarily stem from

Authorizing appropriations for assistance to owners of housing for farm workers and rural renters

Data and Supplemental Information

Table Appearing in the Estimate

Corrections and Updates

Correction: On September 9, 2019, CBO corrected a typographical error in the cost estimate. This version makes clear on page two that implementing the bill would cost $813 million over the 2019-2024 period, assuming appropriation of the specified amount. That correction makes the reference to estimated discretionary costs consistent with other references to those costs in the estimate.