Encourages immigrant investment in housing projects to increase housing supply.
The Building Housing for the American Dream Act amends the Immigration and Nationality Act to incentivize immigrant investments in housing projects. It allows the Secretary of Homeland Security to consult with the Secretary of Housing and Urban Development and hire staff to review applications for housing projects. The bill defines "housing project" as any capital investment project primarily for rental housing or housing for purchase as a principal residence. It exempts the collection of information required by this Act from the Paperwork Reduction Act for one year.
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