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EB–5 Reform and Integrity Act of 2019

USA116th CongressS-2540| Senate 
| Updated: 9/24/2019
Chuck Grassley

Chuck Grassley

Republican Senator

Iowa

Cosponsors (1)
Patrick J. Leahy (Democratic)

Judiciary Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
EB-5 Reform and Integrity Act of 2019 This bill reauthorizes the EB-5 Regional Center program through FY2024 and makes various changes to the program, such as imposing various oversight requirements. (EB-5 visas provide permanent resident status to qualified alien investors. A regional center allows EB-5 aliens to pool investments to meet various investment and job creation requirements.) Oversight-related provisions include requiring each center to (1) notify the Department of Homeland Security (DHS) of proposed changes to the center's structure, (2) maintain certain records and make such records available to DHS for audits, (3) obtain approval for each particular investment offering, and (4) annually report to U.S. Citizenship and Immigration Services (USCIS). The bill prohibits certain individuals and entities from involvement in a center, such as (1) a person who had committed a violation involving fraud in the previous 10 years, (2) a non-U.S. national not admitted for permanent residence, or (3) a foreign government official. DHS shall deny petitions, such as a petition to certify a regional center or to classify an alien as an alien investor, if approval would threaten U.S. national interest. The bill provides various enforcement authority to DHS and USCIS, including the ability to permanently bar an individual from participating in the regional center program. The bill establishes the EB-5 Integrity Fund to fund program enforcement activities. The bill contains various provisions related to EB-5 petitions, such as a provision authorizing DHS to extend an alien's conditional permanent residence status.
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Timeline
Sep 24, 2019
Introduced in Senate
Sep 24, 2019
Read twice and referred to the Committee on the Judiciary.
  • September 24, 2019
    Introduced in Senate


  • September 24, 2019
    Read twice and referred to the Committee on the Judiciary.

Immigration

Accounting and auditingAdministrative law and regulatory proceduresAdministrative remediesBusiness investment and capitalBusiness recordsCongressional oversightDepartment of Homeland SecurityDrug trafficking and controlled substancesEconomic developmentEmployee hiringEspionage and treasonEvidence and witnessesExecutive agency funding and structureFamily relationshipsFinancial services and investmentsForeign laborFraud offenses and financial crimesGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment studies and investigationsGovernment trust fundsHuman rightsHuman traffickingImmigration status and proceduresIntellectual propertySecuritiesSmuggling and traffickingTerrorismU.S. and foreign investmentsUser charges and feesVisas and passports

EB–5 Reform and Integrity Act of 2019

USA116th CongressS-2540| Senate 
| Updated: 9/24/2019
EB-5 Reform and Integrity Act of 2019 This bill reauthorizes the EB-5 Regional Center program through FY2024 and makes various changes to the program, such as imposing various oversight requirements. (EB-5 visas provide permanent resident status to qualified alien investors. A regional center allows EB-5 aliens to pool investments to meet various investment and job creation requirements.) Oversight-related provisions include requiring each center to (1) notify the Department of Homeland Security (DHS) of proposed changes to the center's structure, (2) maintain certain records and make such records available to DHS for audits, (3) obtain approval for each particular investment offering, and (4) annually report to U.S. Citizenship and Immigration Services (USCIS). The bill prohibits certain individuals and entities from involvement in a center, such as (1) a person who had committed a violation involving fraud in the previous 10 years, (2) a non-U.S. national not admitted for permanent residence, or (3) a foreign government official. DHS shall deny petitions, such as a petition to certify a regional center or to classify an alien as an alien investor, if approval would threaten U.S. national interest. The bill provides various enforcement authority to DHS and USCIS, including the ability to permanently bar an individual from participating in the regional center program. The bill establishes the EB-5 Integrity Fund to fund program enforcement activities. The bill contains various provisions related to EB-5 petitions, such as a provision authorizing DHS to extend an alien's conditional permanent residence status.
View Full Text

Suggested Questions

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

Timeline
Sep 24, 2019
Introduced in Senate
Sep 24, 2019
Read twice and referred to the Committee on the Judiciary.
  • September 24, 2019
    Introduced in Senate


  • September 24, 2019
    Read twice and referred to the Committee on the Judiciary.
Chuck Grassley

Chuck Grassley

Republican Senator

Iowa

Cosponsors (1)
Patrick J. Leahy (Democratic)

Judiciary Committee

Immigration

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Accounting and auditingAdministrative law and regulatory proceduresAdministrative remediesBusiness investment and capitalBusiness recordsCongressional oversightDepartment of Homeland SecurityDrug trafficking and controlled substancesEconomic developmentEmployee hiringEspionage and treasonEvidence and witnessesExecutive agency funding and structureFamily relationshipsFinancial services and investmentsForeign laborFraud offenses and financial crimesGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment studies and investigationsGovernment trust fundsHuman rightsHuman traffickingImmigration status and proceduresIntellectual propertySecuritiesSmuggling and traffickingTerrorismU.S. and foreign investmentsUser charges and feesVisas and passports