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EB–5 Reform and Integrity Act of 2021

USA117th CongressS-831| Senate 
| Updated: 3/18/2021
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 2021 This bill reauthorizes the EB-5 Regional Center program through FY2026 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 DHS. 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 U.S. Citizenship and Immigration Services, 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

Bill from Previous Congress

S 116-2540
EB–5 Reform and Integrity Act of 2019
Mar 18, 2021
Introduced in Senate
Mar 18, 2021
Read twice and referred to the Committee on the Judiciary.
Oct 19, 2021

Latest Companion Bill Action

HR 117-2901
Referred to the Subcommittee on Immigration and Citizenship.
  • Bill from Previous Congress

    S 116-2540
    EB–5 Reform and Integrity Act of 2019


  • March 18, 2021
    Introduced in Senate


  • March 18, 2021
    Read twice and referred to the Committee on the Judiciary.


  • October 19, 2021

    Latest Companion Bill Action

    HR 117-2901
    Referred to the Subcommittee on Immigration and Citizenship.

Immigration

Related Bills

  • HR 117-2901: EB–5 Reform and Integrity Act of 2021
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 2021

USA117th CongressS-831| Senate 
| Updated: 3/18/2021
EB-5 Reform and Integrity Act of 2021 This bill reauthorizes the EB-5 Regional Center program through FY2026 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 DHS. 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 U.S. Citizenship and Immigration Services, 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

Bill from Previous Congress

S 116-2540
EB–5 Reform and Integrity Act of 2019
Mar 18, 2021
Introduced in Senate
Mar 18, 2021
Read twice and referred to the Committee on the Judiciary.
Oct 19, 2021

Latest Companion Bill Action

HR 117-2901
Referred to the Subcommittee on Immigration and Citizenship.
  • Bill from Previous Congress

    S 116-2540
    EB–5 Reform and Integrity Act of 2019


  • March 18, 2021
    Introduced in Senate


  • March 18, 2021
    Read twice and referred to the Committee on the Judiciary.


  • October 19, 2021

    Latest Companion Bill Action

    HR 117-2901
    Referred to the Subcommittee on Immigration and Citizenship.
Chuck Grassley

Chuck Grassley

Republican Senator

Iowa

Cosponsors (1)
Patrick J. Leahy (Democratic)

Judiciary Committee

Immigration

Related Bills

  • HR 117-2901: EB–5 Reform and Integrity Act of 2021
  • 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