[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3309 Introduced in Senate (IS)]
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119th CONGRESS
1st Session
S. 3309
To amend section 203(b)(5) of the Immigration and Nationality Act to
spur an increase in the supply of housing, including low-income
housing, in the United States.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
December 2, 2025
Mr. Gallego introduced the following bill; which was read twice and
referred to the Committee on the Judiciary
_______________________________________________________________________
A BILL
To amend section 203(b)(5) of the Immigration and Nationality Act to
spur an increase in the supply of housing, including low-income
housing, in the United States.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Building Housing for the American
Dream Act''.
SEC. 2. INCENTIVES FOR EB-5 VISA PETITIONS INVOLVING HOUSING PROJECTS.
Section 203(b)(5) of the Immigration and Nationality Act (8 U.S.C.
1153(b)(5)) is amended--
(1) in subparagraph (C)(ii)--
(A) in the subparagraph heading, by striking ``and
infrastructure projects'' and inserting ``,
infrastructure projects, and housing projects''; and
(B) by striking ``or in an infrastructure project''
and inserting ``, an infrastructure project, or a
housing project'';
(2) in subparagraph (D)--
(A) by redesignating clauses (iv), (v), (vi),
(vii), and (viii) as clauses (v), (vi), (vii), (viii),
and (ix), respectively;
(B) by inserting after clause (iii) the following:
``(iv) Housing project.--The term `housing
project' means any capital investment project
for which an application has been filed or
approved under subparagraph (F) that includes,
as a primary component, the production,
preservation, or rehabilitation of rental
housing or housing available for purchase only
for use as a principal residence.''; and
(3) in subparagraph (E)--
(A) in clause (ii)--
(i) by redesignating subclauses (II) and
(III) as subclauses (III) and (IV),
respectively;
(ii) by inserting after subparagraph (I)
the following:
``(II) shall prioritize the
processing and adjudication of
applications for approval of an
investment and associated petitions for
housing projects that are acquired
through a Federal project-based
assistance program, including--
``(aa) section 202 of the
Housing Act of 1959 (12 U.S.C.
1701q);
``(bb) section 1338 of the
Federal Housing Enterprises
Financial Safety and Soundness
Act of 1992 (12 U.S.C. 4568);
``(cc) section 42 of the
Internal Revenue Code of 1986;
``(dd) title I of the
Housing and Community
Development Act of 1974 (42
U.S.C. 5301 et seq.);
``(ee) the HOME Investment
Partnerships Act (title II of
Public Law 101-625; 42 U.S.C.
12721 et seq.); and
``(ff) section 11 of the
Housing Opportunity Program
Extension Act of 1996 (42
U.S.C. 12805 note).''; and
(iii) in subclause (III), as redesignated,
by inserting ``subject to subclauses (I) and
(II)'' before ``may process''; and
(B) by adding at the end the following:
``(viii) Consultation and hiring.--In
reviewing applications for approval of an
investment and associated petitions under this
paragraph for housing projects, the Secretary
may consult with the Secretary of Housing and
Urban Development and hire such staff as may be
necessary to effectively review and adjudicate
such applications and associated petitions.''.
SEC. 3. PAPERWORK REDUCTION ACT EXEMPTION.
During the 1-year period beginning on the date of the enactment of
this Act, the requirements under chapter 35 of title 44, United States
Code, shall not apply to the collection of information required under
this Act, any amendment made by this Act, or any rule promulgated by
the Secretary of Homeland Security to implement this Act or the
amendments made by this Act, to the extent the Secretary determines
that compliance with such requirements would impede the expeditious
implementation of this Act or the amendments made by this Act.
SEC. 4. ANNUAL REPORT.
Not later than 1 year after the date of the enactment of this Act,
and annually thereafter, the Secretary of Homeland Security shall
submit a report to Congress that includes, with respect to the previous
12-month period--
(1) the number of applications for approval of an
investment and associated petitions submitted by eligible
investors for housing projects pursuant to section 203(b)(5) of
the Immigration and Nationality Act (8 U.S.C. 1153(b)(5)), as
amended by section 2;
(2) the number of such applications and associated
petitions that were approved;
(3) the country of origin of eligible investors who submit
petitions described in paragraph (1);
(4) the aggregate number of housing units to be constructed
for all housing projects included in approved applications
under section 203(b)(5)(F) of the Immigration and Nationality
Act (8 U.S.C. 1153(b)(5)(F));
(5) an assessment of any regulatory, programmatic, or other
barriers that may prevent or hinder financing described in
section 203(b)(5) of the Immigration and Nationality Act (8
U.S.C. 1153(b)(5)) for housing development, including for small
and local developers;
(6) an assessment of the impact of the amendments made by
section 2 on the number of applications and associated
petitions described in paragraph (2) received by the Secretary
of Homeland Security; and
(7) additional authorities needed by the Department of
Homeland Security to better incentivize immigrant investments
in housing projects;
SEC. 5. GOVERNMENT ACCOUNTABILITY OFFICE REPORT.
Not later than 3 years after the date of the enactment of this Act,
and every 3 years thereafter for the following 9 years, the Comptroller
General of the United States shall--
(1) review the reports submitted pursuant to section 4 to
determine the effectiveness of the amendments made by section 2
on increasing immigrant investments in housing projects (as
defined in section 203(b)(5)(D)(iv) of the Immigration and
Nationality Act, as amended by section 2); and
(2) submit a report to the Committee on the Judiciary of
the Senate, the Committee on Banking, Housing, and Urban
Affairs of the Senate, the Committee on the Judiciary of the
House of Representatives, and the Committee on Financial
Services of the House of Representatives that describes the
results of the review conducted pursuant to paragraph (1).
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