S. 2540 · 116th Congress
EB–5 Reform and Integrity Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.)
What it does: CRS summary · Introduced in Senate · Sep 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: EB–5 Reform and Integrity Act of 2019
Latest action (Sep 24, 2019): Read twice and referred to the Committee on the Judiciary.
Policy area: Immigration · Origin: Senate · Introduced: Sep 24, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.