Promotes housing affordability by incentivizing construction of American dream homes for low-income households.

The bill defines "American dream home" as an owner-occupied single-family residential dwelling of 1,500 square feet or less serving low-income households. It allows builders to claim an annual tax credit equal to four percent of the gross selling price of these homes. The value of these homes is exempt from property taxation for seven years. The bill also provides down payment assistance to buyers of these homes and limits impact fees to $1,250. The program expires on July 1, 2036.

Promotes housing affordability by incentivizing construction of American dream homes for low-income households.

The bill defines "American dream home" as an owner-occupied single-family residential dwelling of 1,500 square feet or less serving low-income households. It allows builders to claim an annual tax credit equal to four percent of the gross selling price of these homes. The value of these homes is exempt from property taxation for seven years. The bill also provides down payment assistance to buyers of these homes and limits impact fees to $1,250. The program expires on July 1, 2036.