Strategy and Investment in Rural Housing Preservation Act of 2023

This bill establishes a permanent program to preserve rural affordable rental housing financed through USDA's Section 515 or combined Sections 514/516 programs. It directly affects owners of these properties and their low-income tenants by requiring annual loan maturity notices to owners and detailed tenant notices 2 years before maturity. Key mechanisms include allowing loan restructuring (reducing interest, deferring payments), offering 20-year rental assistance renewals with maintenance requirements, and guaranteeing tenants 18 months to transfer assistance to new affordable units if their building loses funding. The bill also mandates restrictive use agreements to ensure properties remain affordable and creates an advisory committee to guide implementation.