The Community Investment and Prosperity Act ... to increase private investment in affordable housing and other community development projects across the country by increasing a statutory cap limiting banks’ investments in housing investments.
Increase the statutory cap on banks’ investments in affordable housing and community development projects to unlock more private capital for new housing.
Occurrences
Also included in the final package is his bipartisan Community Investment and Prosperity Act ... This legislation aims to increase private investment in affordable housing and other community development projects ... by increasing a statutory cap limiting banks’ investments in community development projects. This would unlock billions in capital for small businesses, financial education, and other economic development needs in communities that need it the most.
Evidence
On February 11, 2026, Senator Andy Kim, along with Senator Ted Budd, introduced the Tailored Regulatory Updates for Supervisory Testing (TRUST) Act. This bipartisan legislation aims to increase the examination threshold for well-managed community banks from $3 billion to $6 billion in total assets, allowing these institutions to qualify for an extended 18-month exam cycle. The reform is intended to reduce regulatory burdens on low-risk community banks, enabling them to better serve their communities by focusing resources on lending and other services.
On July 24, 2025, Senator Andy Kim, alongside Senator Mike Rounds, introduced two bipartisan bills: the Unlocking Housing Supply Through Streamlined and Modernized Reviews Act and the BUILD Housing Act. These bills aim to modernize the federal housing review process, streamline environmental reviews, and increase housing production to address the national housing shortage and lower costs for American families.
On March 11, 2026, Senator Andy Kim announced securing $97.5 million in federal funding for various projects across New Jersey. This funding includes investments in community centers, housing units, and infrastructure improvements, aiming to upgrade New Jersey's infrastructure, support seniors, assist families in need, and more.
On July 24, 2025, Senator Andy Kim, along with Senators Tim Scott, Lisa Blunt Rochester, and Bernie Moreno, introduced the Community Investment and Prosperity Act. This legislation proposes increasing the statutory cap on banks' public welfare investments from 15% to 20%, aiming to unlock billions in capital for affordable housing and community development projects across the country.
On July 29, 2025, the Senate Banking, Housing, and Urban Affairs Committee unanimously advanced multiple bills led by Senator Andy Kim to address the housing shortage and create affordable homeownership paths. This includes the Community Investment and Prosperity Act, which aims to increase private investment in affordable housing by raising the statutory cap on banks' investments in community development projects.
On March 11, 2026, Senator Andy Kim delivered remarks on the Senate Floor advocating for the final passage of the 21st Century ROAD to Housing Act. This bipartisan package includes provisions to increase private investment in affordable housing by raising the statutory cap on banks' investments in community development projects.
On December 17, 2025, the House Financial Services Committee approved the Housing for the 21st Century Act (H.R. 6644), a bipartisan package that includes the Community Investment and Prosperity Act. This act proposes raising the public welfare investment cap from 15% to 20%, aiming to mobilize billions in private-sector investment for affordable housing construction.
On November 5, 2025, Representatives Mike Lawler, Joyce Beatty, and Young Kim introduced the Community Investment and Prosperity Act in the House. This bipartisan bill seeks to increase the cap on banks' public welfare investments from 15% to 20%, enabling more private capital to flow into affordable housing and community development projects.
Assessments
Kim co-introduced and advanced the Community Investment and Prosperity Act, which directly matched the promise by proposing to raise the public welfare investment cap from 15% to 20%. The provision advanced through committee and was included in broader housing packages, with Senate passage of the 21st Century ROAD to Housing Act in March 2026. However, the available record indicates the cap increase had not become enacted federal law by May 20, 2026, so the promised statutory increase was not delivered. This warrants credit for a serious same-term legislative effort, but not full or partial delivery of the actual statutory outcome.
Senator Andy Kim introduced, co-sponsored, and actively advanced multiple bills—including the Community Investment and Prosperity Act—explicitly aiming to raise the statutory cap on banks’ investments in affordable housing and community development. Legislation progressed through key House and Senate committees, and Senator Kim also secured related federal funding and regulatory reforms. However, there is no direct evidence that the statutory cap increase was signed into law or fully implemented during the term. Thus, while substantial, bipartisan, and continuous legislative effort was made by Senator Kim, the central promise was only partly delivered.