Building Housing for the American Dream Act
Sponsors
Legislative Progress
In CommitteeMr. Gallego introduced the following bill; which was read twice …
Summary
What This Bill Does
The Building Housing for the American Dream Act amends the EB-5 immigrant investor visa program to encourage foreign investment in housing projects. It expands the existing EB-5 program (which already covers rural and infrastructure projects) to include housing developments, giving priority processing to housing projects that receive federal assistance.
Who Benefits and How
- Immigrant Investors: Gain a new qualifying investment category (housing projects) that can lead to permanent residency through the EB-5 visa program.
- Housing Developers: Gain access to a new source of investment capital from immigrant investors seeking EB-5 visas, particularly for projects using federal housing assistance programs like the Low-Income Housing Tax Credit (Section 42), HOME Investment Partnerships, and HUD Section 202 senior housing.
Who Bears the Burden and How
- Department of Homeland Security: Must process and adjudicate a new category of EB-5 applications, submit annual reports to Congress, and potentially hire additional staff to handle housing project applications.
- Government Accountability Office: Must conduct triennial reviews over 9 years to assess whether the program effectively increases immigrant investment in housing.
Key Provisions
- Adds "housing projects" as a priority category under the EB-5 visa program alongside rural and infrastructure projects
- Defines "housing project" as capital investment in rental housing or homes for purchase as principal residences
- Prioritizes processing for housing projects using federal assistance programs (Section 42 tax credits, HOME funds, HUD Section 202, etc.)
- Allows DHS to consult with HUD and hire specialized staff for housing project reviews
- Exempts paperwork requirements during the first year of implementation
- Requires annual DHS reports on housing project applications, approvals, and barriers
- Mandates GAO effectiveness reviews every 3 years for 9 years
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
The bill aims to increase housing supply, including low-income housing, in the United States by amending section 203(b)(5) of the Immigration and Nationality Act. It provides incentives for EB-5 visa petitions involving housing projects.
Policy Domains
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → Secretary of Homeland Security
- "the_administrator"
- → None
Key Definitions
Terms defined in this bill
A capital investment project with the primary component being the production, preservation or rehabilitation of rental housing or housing available for purchase as a principal residence.
A report submitted by the Comptroller General of the United States to specified Senate and House committees, reviewing the effectiveness of amendments made in section 2 on increasing immigrant investments in housing projects.
A report submitted by the Secretary of Homeland Security to Congress, detailing the number and outcomes of applications for approval of investment in housing projects under section 203(b)(5) of the Immigration and Nationality Act.
A provision exempting the collection of information required by this act from certain requirements under chapter 35 of title 44, United States Code.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology