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To amend section 203(b)(5) of the Immigration and Nationality Act to implement new reforms, and to reauthorize the EB-5 Regional Center Program, in order to promote and reform foreign capital investment and job creation in communities in the United States, and for other purposes.

USA115th CongressHR-3471| House 
| Updated: 9/6/2017
Brian K. Fitzpatrick

Brian K. Fitzpatrick

Republican Representative

Pennsylvania

Cosponsors (2)
Dwight Evans (Democratic)Bill Shuster (Republican)

Judiciary Committee, Immigration Integrity, Security, and Enforcement Subcommittee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
American Job Creation and Investment Into Public Works Reform Act of 2017 This bill amends the Immigration and Nationality Act to revise EB-5 (alien immigrant investor) provisions, including regional center program provisions. The bill prescribes E-B5 requirements regarding: (1) fund sources; (2) threats to the national interest; and (3) fraud, misrepresentation, and criminal misuse. Future program participation is barred for a person who knowingly participated in conduct that caused a program center's termination. The EB-5 regional center program is extended through September 30, 2022. EB-5 investors must be at least 18 years old. The bill: (1) provides initial conditional permanent resident status for an alien investor (and the investor's spouse and children), and (2) sets aside 2,000 EB-5 visas for immigrants who invest in rural areas, 2,000 for immigrants who invest in priority urban investment areas, and 2,000 for immigrants who invest in infrastructure projects. A regional center shall operate within a defined geographic area and shall be consistent with the purpose of concentrating pooled investment within such area. The bill prescribes job creation requirements. Approved regional centers must give advance notice to the Department of Homeland Security (DHS) of significant proposed changes to their organizational structure, ownership, or administration. U.S. nationals are included in the minimum of 10 U.S. persons for whom an EB-5 project must provide employment. Only a U.S. national or lawfully admitted permanent resident may be involved with a regional center. A regional center shall monitor and supervise all offers, purchases, and sales of securities made by associated parties to ensure compliance with U.S. securities laws. The bill establishes the EB-5 Integrity Fund. The bill prescribes fund source and gift restrictions. Minimum investment amounts are increased. The bill authorizes concurrent filing of EB-5 petitions and applications for adjustment to conditional lawful permanent resident status.
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Timeline
Jul 27, 2017
Introduced in House
Jul 27, 2017
Referred to the House Committee on the Judiciary.
Sep 6, 2017
Referred to the Subcommittee on Immigration and Border Security.
  • July 27, 2017
    Introduced in House


  • July 27, 2017
    Referred to the House Committee on the Judiciary.


  • September 6, 2017
    Referred to the Subcommittee on Immigration and Border Security.

Immigration

Business investment and capitalCongressional oversightDepartment of Homeland SecurityEconomic developmentEmployee hiringForeign laborFraud offenses and financial crimesGovernment ethics and transparency, public corruptionGovernment studies and investigationsGovernment trust fundsImmigration status and proceduresInfrastructure developmentManufacturingRural conditions and developmentSecuritiesUrban and suburban affairs and developmentU.S. and foreign investmentsUser charges and feesVisas and passports

To amend section 203(b)(5) of the Immigration and Nationality Act to implement new reforms, and to reauthorize the EB-5 Regional Center Program, in order to promote and reform foreign capital investment and job creation in communities in the United States, and for other purposes.

USA115th CongressHR-3471| House 
| Updated: 9/6/2017
American Job Creation and Investment Into Public Works Reform Act of 2017 This bill amends the Immigration and Nationality Act to revise EB-5 (alien immigrant investor) provisions, including regional center program provisions. The bill prescribes E-B5 requirements regarding: (1) fund sources; (2) threats to the national interest; and (3) fraud, misrepresentation, and criminal misuse. Future program participation is barred for a person who knowingly participated in conduct that caused a program center's termination. The EB-5 regional center program is extended through September 30, 2022. EB-5 investors must be at least 18 years old. The bill: (1) provides initial conditional permanent resident status for an alien investor (and the investor's spouse and children), and (2) sets aside 2,000 EB-5 visas for immigrants who invest in rural areas, 2,000 for immigrants who invest in priority urban investment areas, and 2,000 for immigrants who invest in infrastructure projects. A regional center shall operate within a defined geographic area and shall be consistent with the purpose of concentrating pooled investment within such area. The bill prescribes job creation requirements. Approved regional centers must give advance notice to the Department of Homeland Security (DHS) of significant proposed changes to their organizational structure, ownership, or administration. U.S. nationals are included in the minimum of 10 U.S. persons for whom an EB-5 project must provide employment. Only a U.S. national or lawfully admitted permanent resident may be involved with a regional center. A regional center shall monitor and supervise all offers, purchases, and sales of securities made by associated parties to ensure compliance with U.S. securities laws. The bill establishes the EB-5 Integrity Fund. The bill prescribes fund source and gift restrictions. Minimum investment amounts are increased. The bill authorizes concurrent filing of EB-5 petitions and applications for adjustment to conditional lawful permanent resident status.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 27, 2017
Introduced in House
Jul 27, 2017
Referred to the House Committee on the Judiciary.
Sep 6, 2017
Referred to the Subcommittee on Immigration and Border Security.
  • July 27, 2017
    Introduced in House


  • July 27, 2017
    Referred to the House Committee on the Judiciary.


  • September 6, 2017
    Referred to the Subcommittee on Immigration and Border Security.
Brian K. Fitzpatrick

Brian K. Fitzpatrick

Republican Representative

Pennsylvania

Cosponsors (2)
Dwight Evans (Democratic)Bill Shuster (Republican)

Judiciary Committee, Immigration Integrity, Security, and Enforcement Subcommittee

Immigration

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business investment and capitalCongressional oversightDepartment of Homeland SecurityEconomic developmentEmployee hiringForeign laborFraud offenses and financial crimesGovernment ethics and transparency, public corruptionGovernment studies and investigationsGovernment trust fundsImmigration status and proceduresInfrastructure developmentManufacturingRural conditions and developmentSecuritiesUrban and suburban affairs and developmentU.S. and foreign investmentsUser charges and feesVisas and passports