American Entrepreneurship and Investment Act of 2014 - Amends the Immigration and Nationality Act to make the EB-5 immigrant investor program permanent.
Increases the targeted employment area set-aside.
Includes in the definition of targeted employment area (TEA): (1) a military installation closed pursuant to a base closure law; (2) a county with a 20% or greater population decline since 1970; and (3) an area within a federal, state, county, or city economic development incentive program.
Directs the Secretary of Homeland Security (DHS) to defer to state TEA designations.
Provides for five-year Consumer Price Index-based adjustments to the required EB-5 investment amount beginning on January 1, 2016.
Permits job creation requirements to include employment measured in full-time equivalents, such as intermittent or seasonal employment opportunities and construction jobs.
Directs the Secretary to: (1) establish a preapproval procedure for commercial enterprises that allows a regional center to apply for preapproval of a new commercial enterprise before an alien files a petition for classification by reason of investment in such enterprise; and (2) defer to certain prior favorable EB-5 determinations except in the case of fraud, material change, or legal deficiency.
Prohibits a person who has been found liable for specified criminal or civil activities from serving as an owner, director, or officer of a regional center.
Requires EB-5 petitions to be adjudicated within 180 days unless additional information is required.
Revises the criteria under which a immigrant investor or entrepreneur shall have his or her conditional permanent resident status terminated.
Provides that the child of an alien investor whose conditional permanent resident status is terminated shall continue to be considered a child of the alien investor for purposes of a subsequent immigrant petition by the alien investor if the child remains unmarried and the alien investor's subsequent petition is filed within one year after termination of status.
Provides for: (1) a consolidated petition by an alien investor and his or her spouse and children, and (2) premium petition processing for a $5,000 fee.
Prescribes criteria for national interest waivers for: (1) physicians working in shortage areas or veterans facilities, and (2) entrepreneurs and job creators who have engaged in a new commercial enterprise in the United States that has benefitted the U.S. economy and who have satisfied certain employment creation requirements.
Exempts spouses and children of EB-5 immigrants from EB-5 admissions limits.
Authorizes concurrent filing of EB-5 petitions and applications for status adjustment to conditional lawful permanent resident.
Eliminates the per-country limit for employment-based immigrants and increases the per-country limit for family-based immigrants.
Amends the Chinese Student Protection Act of 1992 to eliminate the requirement that the annual Chinese immigrant visas be reduced by a specified amount to offset status adjustments under that Act.
Subjects EB-5 petitions to the Foreign Corrupt Practices Act.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4178 Introduced in House (IH)]
113th CONGRESS
2d Session
H. R. 4178
To amend the Immigration and Nationality Act to provide for reforms to
the EB-5 immigrant investor program, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 6, 2014
Mr. Polis (for himself, Mr. Salmon, Mr. Garcia, and Mr. Amodei)
introduced the following bill; which was referred to the Committee on
the Judiciary
_______________________________________________________________________
A BILL
To amend the Immigration and Nationality Act to provide for reforms to
the EB-5 immigrant investor program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``American Entrepreneurship and
Investment Act of 2014''.
SEC. 2. THE EB-5 EMPLOYMENT-CREATION IMMIGRANT INVESTOR PROGRAM.
(a) Reforming the EB-5 Immigrant Investor Program.--Section
203(b)(5) of the Immigration and Nationality Act (8 U.S.C. 1153(b)(5))
is amended as follows:
(1) Type of investment.--In subparagraph (A), by inserting
``or similar entity'' after ``including a limited
partnership''.
(2) Targeted employment area.--In subparagraph (B)--
(A) by amending clause (i) to read as follows:
``(i) In general.--Not fewer than 5,000 of
the visas made available under this paragraph
in each fiscal year shall be reserved for
qualified immigrants who invest in a new
commercial enterprise described in subparagraph
(A), which--
``(I) is investing such capital in
a targeted employment area; and
``(II) will create employment in
such targeted employment area.''.
(B) by amending clause (ii) to read as follows:
``(ii) Targeted employment area defined.--
In this paragraph, the term `targeted
employment area' means, at the time of
investment--
``(I) a rural area;
``(II) an area that has experienced
high unemployment (of at least 150
percent of the national average rate)
within the preceding 12 months;
``(III) a county that has had a
decline in population of 20 percent or
more since 1970;
``(IV) a military installation
closed pursuant to a base closure law
(as defined in section 101(a)(17) of
title 10, United States Code); or
``(V) an area that is within the
boundaries established for purposes of
a Federal, State, County, or City
economic development incentive program,
including areas defined as Enterprise
Zones, Renewal Communities and
Empowerment Zones.'';
(C) in clause (iii), by striking ``within a
metropolitan statistical area or''; and
(D) by inserting after clause (iii) the following:
``(iv) State determinations.--In a case in
which a geographic area is determined under
clause (ii) to be a targeted employment area by
a delegated State agency, and such a
determination has been made using acceptable
data sources to include U.S. Census Bureau data
(including data from the American Community
Survey) and data from the Bureau of Labor
Statistics (including data from the Local Area
Unemployment Statistics), The Secretary of
Homeland Security or her designee shall defer
to a State's designation as conclusive.
``(v) Effect of prior determination.--In a
case in which an area is determined under
clause (ii) to be a targeted employment area,
such determination shall remain in effect
during the 2-year period beginning on the date
of the determination for purposes of an alien
seeking a visa reserved under this
subparagraph.''.
(3) Capital.--In subparagraph (C)--
(A) in clause (i)--
(i) by striking ``The Attorney General, in
consultation with the Secretary of Labor and
the Secretary of State'' and inserting ``The
Secretary of Commerce, in consultation with the
Secretary of Homeland Security and Secretary of
Labor''; and
(ii) by adding at the end the following:
``Unless adjusted by the Secretary of Commerce,
the amount specified in this clause shall
automatically adjust, on January 1, 2016, by
the percentage change in the Consumer Price
Index for all urban consumers published by the
Department of Labor during fiscal year 2015,
and on every fifth subsequent January 1 by the
cumulative percentage change in the Consumer
Price Index during the previous 5 fiscal years,
for any petition filed to classify an alien
under this paragraph on or after the date of
each automatic adjustment.'';
(B) in clause (ii), by striking ``Attorney
General'' and inserting ``Secretary of Homeland
Security'';
(C) in clause (iii)(II), by striking ``Attorney
General'' and inserting ``Secretary of Homeland
Security''; and
(D) by adding after clause (iii) the following:
``(iv) Capital defined.--For purposes of
this paragraph, the term `capital' does not
include any assets acquired, directly or
indirectly, by unlawful means''.
(4) Calculating job creation.--By amending subparagraph (D)
to read as follows:
``(D) Full-time employment.--Job creation under
this paragraph may consist of employment measured in
full-time equivalents, such as intermittent or seasonal
employment opportunities and construction jobs. A full-
time employment position is not a requirement for
indirect job creation. In this paragraph, the term
`full-time employment' means employment in a position
that requires at least 35 hours of service per week at
any time, regardless of who fills the position. Such
employment may be satisfied on a full-time equivalent
basis by calculating the number of full-time employees
that could have been employed if the reported number of
hours worked by part-time employees had been worked by
full-time employees. Full-time equivalent employment
shall be calculated by dividing the part-time hours
paid by the standard number of hours for full-time
employees.''.
(5) Permanent authorization of regional center program.--By
adding after subparagraph (D) the following:
``(E) Employment creation regional centers.--
``(i) In general.--Visas under this
paragraph shall be made available to qualified
immigrants who participate in a program
involving a regional center in the United
States, which has been designated by the
Secretary of Homeland Security, in consultation
with the Secretary of Commerce, on the basis of
a general proposal, for the promotion of
economic growth, including increased exports,
improved regional productivity, job creation,
and increased domestic capital investment. A
regional center shall have jurisdiction over a
specific geographic area, which shall be
described in the proposal and consistent with
the purpose of concentrating pooled investment
in defined economic zones. The establishment of
a regional center under this subparagraph may
be based on general predictions, contained in
the proposal, concerning--
``(I) the kinds of new commercial
enterprises that will receive capital
from aliens;
``(II) the jobs that will be
created directly or indirectly as a
result of such investments; and
``(III) other positive economic
effects such investments will have.
``(ii) Methodologies.--In determining
compliance with this subparagraph, and
notwithstanding requirements applicable to
investors not involving regional centers, the
Secretary of Homeland Security, in consultation
with the Secretary of Commerce, shall recognize
reasonable methodologies for determining the
number of jobs created by a designated regional
center, including such jobs that are estimated
to have been created indirectly through
revenues generated from increased exports,
improved regional productivity, or increased
domestic capital investment resulting from the
regional center.
``(iii) Special procedures.--
``(I) Preapproval of new commercial
enterprises.--The Secretary of Homeland
Security shall establish a preapproval
procedure for commercial enterprises
that--
``(aa) allows a regional
center or potential regional
center to apply to the
Secretary for preapproval of a
new commercial enterprise
before any alien files a
petition for classification
under this paragraph by reason
of investment in the new
commercial enterprise;
``(bb) in considering an
application under subclause
(I)--
``(AA) allows the
applicant to address
and cure any
deficiencies identified
by the Secretary in the
application prior to
final determination on
the application; and
``(BB) requires
that the Secretary make
final decisions on all
issues under this
paragraph other than
those issues unique to
each individual
investor in the new
commercial enterprise;
and
``(cc) requires that the
Secretary eliminate the need
for the repeated submission of
documentation that is common to
multiple petitions for
classification under this
paragraph through a regional
center.
``(II) Deference to prior
rulings.--Except in the case of
material change, fraud, or legal
deficiency, the Secretary of Homeland
Security shall give deference to, and
not revisit, favorable determinations
made pertaining to a commercial
enterprise during the adjudication of--
``(aa) petitions filed by
immigrants investing in the
commercial enterprise under
this subparagraph; or
``(bb) petitions filed by
such immigrants under section
216A for removal of conditional
basis.
``(iv) Processing times.--The Secretary of
Homeland Security shall make determinations on
a proposal under clause (i) or an application
under clause (iii) not later than 180 days
after the date on which the proposal or
application is filed. In the event that
additional information or documentation is
requested by the Secretary, the Secretary shall
adjudicate the proposal or application not
later than 30 days after the receipt of such
information or documentation. The filing party
shall be notified in writing within 30 days of
the date of filing if the filing does not meet
the standards for approval. If the filing does
not meet such standards, the notice shall
include the reasons therefore and the Secretary
shall provide an opportunity for the prompt
resubmission of a modified filing.''.
(6) Preventing fraud in the regional center program.--In
subparagraph (E) (as added by paragraph (5)), by inserting
after clause (iii) the following:
``(v) Bona fides of regional center
principals.--No person may serve as an owner,
director or officer of a regional center, or
hold other positions of substantive authority
for the operations, management or promotion of
a regional center, if the Secretary of Homeland
Security determines based on substantial
evidence that the person--
``(I) has been found liable within
the previous 5 years for any criminal
or civil violation of any law relating
to fraud or deceit;
``(II) has been found liable at any
time for any such criminal or civil
violation if such violation involved--
``(aa) a criminal
conviction with a term of
imprisonment of at least 1
year; or
``(bb) any law or agency
regulation in connection with
the purchase or sale of a
security; or
``(III) is engaged in, has ever
been engaged in, or seeks to engage in
any--
``(aa) terrorist activity
(as defined in clauses (iii)
and (iv) of section
212(a)(3)(B));
``(bb) activity relating to
espionage or sabotage;
``(cc) illicit trafficking
in any controlled substance;
``(dd) activity related to
money laundering (as described
in section 1956 or 1957 of
title 18, United States Code);
``(ee) violation of any
statute, regulation or
Executive order regarding
foreign financial transactions
or foreign asset control; or
``(ff) human trafficking or
any other human rights offense.
The Secretary of Homeland Security shall
require such attestations and information
(including fingerprints) and shall perform such
background checks as the Secretary in the
Secretary's discretion considers appropriate to
determine whether a regional center is in
compliance with this clause. The Secretary may
terminate any regional center from the program
under this section if the Secretary determines
that the regional center is violation of this
clause, the regional center fails to provide
such attestations and information requested by
the Secretary under this clause, or the
regional center or any person described in this
clause is engaged in fraud, misrepresentation,
criminal misuse, or threats to national
security. The Secretary shall provide for
procedures for the appeal and review of such a
termination, and any determinations pertaining
to such termination shall be subject to review
under chapter 7 of title 5, United States Code.
``(vi) Fee for regional center
designation.--In addition to any other fees
authorized by law, the Secretary of Homeland
Security shall impose--
``(I) a fee to apply for
designation as a regional center under
this subparagraph; and
``(II) a fee for preapproval of a
new commercial enterprise as provided
under clause (iii)(I).''.
(7) EB-5 petitions.--By adding after subparagraph (E) (as
amended by paragraph (6)) the following:
``(F) EB-5 petitions.--
``(i) Processing times.--The Secretary of
Homeland Security shall adjudicate a petition
filed pursuant to this paragraph not later than
180 days after the date on which the petition
is filed. In the event that additional
information or documentation is requested by
the Secretary, the Secretary shall adjudicate
the petition not later than 30 days after the
receipt of such information or documentation.
The filing party shall be notified in writing
within 30 days of the date of filing if the
filing does not meet the standards for
approval. If the filing does not meet such
standards, the notice shall include the reasons
therefore and the Secretary shall provide an
opportunity for the prompt resubmission of a
modified filing.
``(ii) Communications with eb-5
petitioners.--The Secretary of Homeland
Security shall establish a means by which a
petitioner for status under this paragraph, a
petitioner under section 216A for removal of
conditional basis, who is the recipient of a
request for additional information or
documentation, a regional center, or a project
developer may, prior to the deadline to respond
to that request, communicate directly with U.S.
Citizenship and Immigration Services to address
concerns underlying the request.
``(iii) Fraud.--The Secretary of Homeland
Security, in consultation with the Commissioner
of the Securities and Exchange Commission,
shall develop a strategy to review securities-
related materials included in any immigration
petition under this paragraph, or a petition
under section 216A for removal of conditional
basis, when there is evidence of fraud.''.
(b) Conforming Amendment.--Section 610 of the Departments of
Commerce, Justice, and State, the Judiciary, and Related Agencies
Appropriations Act, 1993 (8 U.S.C. 1153 note) is repealed.
SEC. 3. CONDITIONAL PERMANENT RESIDENT STATUS FOR IMMIGRANT INVESTORS
AND ENTREPRENEURS.
(a) Procedure for Granting Immigrant Status.--Section 204(a)(1)(H)
of the Immigration and Nationality Act (8 U.S.C. 1154(a)(1)(H)) is
amended by striking ``Attorney General'' and inserting ``Secretary of
Homeland Security''.
(b) Conditional Permanent Resident Status.--Section 216A of the
Immigration and Nationality Act (8 U.S.C. 1186b) is amended--
(1) by striking ``Attorney General'' and ``Attorney
General's'' each place such terms appear, except for the
reference to the Attorney General in section 216A(d)(2)(C), and
inserting ``Secretary of Homeland Security'' and ``Secretary of
Homeland Security's'', respectively;
(2) by striking ``the Service'' each place such term
appears and inserting ``U.S. Citizenship and Immigration
Services'';
(3) in subsection (b)(1)--
(A) in subparagraph (A), by striking ``investment''
and inserting ``investment or engagement''; and
(B) by amending subparagraph (B) to read as
follows:
``(B)(i) the requisite investment or engagement was
not made or was not sustained throughout the period of
the alien's residence in the United States; or
``(ii) the alien was otherwise not conforming to
the requirements of section 203(b)(5), as
applicable;'';
(4) in subsection (c)(3)(A), by striking ``the'' before
``such filing'';
(5) in subsection (d)--
(A) in paragraph (1)--
(i) in the matter preceding subparagraph
(A), by striking ``the alien''; and
(ii) by amending subparagraph (A) to read
as follows:
``(A) the requisite investment or engagement was
made and was sustained throughout the period of the
alien's residence in the United States; and''; and
(B) in paragraph (2)(A), by adding at the end the
following: ``A date specified by the applicant (but not
later than the fourth anniversary) shall be substituted
for the second anniversary in applying the preceding
sentence if the applicant demonstrates that the
applicant has attempted to follow the applicant's
business model in good faith, provides an explanation
for the delay in filing the petition that is based on
circumstances outside of the applicant's control, and
demonstrates that such circumstances will be able to be
resolved within the specified period.'';
(6) by redesignating subsection (f) as subsection (i);
(7) by adding after subsection (e) the following:
``(f) Age Determination for Children of Alien Entrepreneurs.--An
immigrant admitted under section 203(d) as a lawful permanent resident
on a conditional basis as the child of an alien entrepreneur, whose
lawful permanent resident status on a conditional basis is terminated
under this section, shall continue to be considered a child of the
alien entrepreneur for the purpose of a subsequent immigrant petition
by the alien entrepreneur under paragraph (b)(5) if the immigrant
remains unmarried and the subsequent petition by the alien entrepreneur
is filed within 1 year after the termination of lawful permanent
resident status on a conditional basis. No alien shall be considered a
child under this paragraph with respect to more than 1 petition filed
after the alien's 21st birthday.
``(g) Consolidated Petition.--If an alien entrepreneur submits a
petition under this section, the alien spouse and alien child shall be
deemed to have timely submitted such petitions as well.
``(h) Processing Time.--The Secretary of Homeland Security shall
adjudicate a petition filed pursuant to this paragraph not later than
180 days after the date on which the petition is filed. In the event
that additional information or documentation is requested by the
Secretary, the Secretary shall adjudicate the petition not later than
30 days after the receipt of such information or documentation. The
filing party shall be notified in writing within 30 days of the date of
filing if the filing does not meet the standards for approval. If the
filing does not meet such standards, the notice shall include the
reasons therefore and the Secretary shall provide an opportunity for
the prompt resubmission of a modified filing.''; and
(8) in subsection (h) (as redesignated by paragraph (6)),
in paragraph (3), by inserting ``or similar entity'' before the
period.
(c) Concurrent Filing; Adjustment of Status.--Section 245 of the
Immigration and Nationality Act (8 U.S.C. 1255) is amended--
(1) in subsection (k), in the matter preceding paragraph
(1), by striking ``(1), (2), or (3)'' and inserting ``(1), (2),
(3), or (5)''; and
(2) by adding at the end the following:
``(n) If, at the time a petition is filed under section 204 for
classification under section 203(b)(5), approval of the petition would
make a visa immediately available to the alien beneficiary, the alien
beneficiary's adjustment application under this section shall be
considered to be properly filed whether the application is submitted
concurrently with, or subsequent to, the visa petition.''.
(d) Premium Processing.--Section 286(u) of the Immigration and
Nationality Act (8 U.S.C. 1356(u)) is amended by adding at the end the
following: ``In the case of a petition filed under section 204(a)(1)(H)
for classification under section 203(b)(5), if the petitioner desires a
guarantee of a decision on the petition in 60 days or less, the premium
processing fee under this subsection shall be set at $5,000''.
SEC. 4. NATIONAL INTEREST WAIVERS FOR ENTREPRENEURS WITH A PROVEN
RECORD OF JOB CREATION.
(a) Aliens Who Are Members of the Professions Holding Advanced
Degrees.--Section 203(b)(1)(B) of the Immigration and Nationality Act
(8 U.S.C. 1153(b)(1)(B)) is amended--
(1) by striking ``(B)(i) Subject to clause (ii)'' and
inserting the following:
``(B) National interest waivers.--
``(i) In general.--Subject to clauses (ii)
and (iii)'';
(2) in clause (ii)--
(A) by striking ``(ii)(I) The Attorney General''
and inserting the following:
``(ii) Physicians working in shortage areas
or veteran facilities.--
``(I) In general.--The Secretary of
Homeland Security'';
(B) in subclause (II), by striking ``(II) No
permanent resident visa'' and inserting ``(II)
Prohibition.--No permanent resident visa'';
(C) in subclause (III), by striking ``(III) Nothing
in this subparagraph'' and inserting the following:
``(III) Statutory construction.--Nothing in this
subparagraph''; and
(D) in subclause (IV), by striking ``(IV) The
requirements of'' and inserting the following: ``(IV)
Effective date.--The requirements of''; and
(3) by inserting after clause (ii) the following:
``(iii) Entrepreneurs and job creators.--
The Secretary of Homeland Security shall grant
a national interest waiver pursuant to clause
(i) on behalf of any alien entrepreneur with
respect to whom a petition for preference
classification has been filed under
subparagraph (A) if--
``(I) the alien has engaged in a
new commercial enterprise (including a
limited partnership or similar entity)
in the United States; and
``(II) such enterprise has
benefitted the United States economy
and satisfied the employment creation
requirements described in section
204(m).''.
(b) Skilled Workers and Professionals; Other Workers.--Section
203(b) of the Immigration and Nationality Act (8 U.S.C. 1153(b)) is
amended by adding at the end the following:
``(6) National interest waiver for entrepreneurs and job
creators.--The Secretary of Homeland Security shall waive
application of paragraphs (2)(C) and (3)(B) on behalf of any
alien entrepreneur with respect to whom a petition for
preference classification has been filed under subparagraph (A)
if--
``(A) the alien has engaged in a new commercial
enterprise (including a limited partnership or similar
entity) in the United States; and
``(B) such enterprise has benefitted the United
States economy and satisfied the employment creation
requirements described in section 204(m).''.
(c) Requirements.--
(1) In general.--Section 204 of the Immigration and
Nationality Act (8 U.S.C. 1154) is amended by adding at the end
the following:
``(m) Entrepreneurs and Job Creators.--
``(1) Job creation requirements.--For purposes of
paragraphs (1)(B)(iii) and (6) of section 203(b), a new
commercial enterprise shall be deemed to have benefitted the
United States economy and satisfied the employment creation
requirements of this subsection if the enterprise--
``(A) has, during the period beginning 4 years
prior to the date that a petition for preference
classification with respect to the alien has been filed
under subparagraph (A), created direct, full-time
employment--
``(i) for not less than 5 United States
workers; or
``(ii) in the case of an enterprise in a
Distressed Area Development Zone, for not less
than 3 United States workers; and
``(B) the enterprise has received enough investment
or revenue during the period described in subparagraph
(A) to support the employment creation requirements
described in such subparagraph.
``(2) Definitions.--For purposes of this subsection and
paragraphs (1)(B)(iii) and (6) of section 203(b):
``(A) Full-time employment.--The term `full-time
employment' means employment in a position that
requires at least 35 hours of service per week at any
time, regardless of who fills the position. Such
employment may be satisfied on a full-time equivalent
basis by calculating the number of full-time employees
that could have been employed if the reported number of
hours worked by part-time employees had been worked by
full-time employees. Full-time equivalent employment
shall be calculated by dividing the part-time hours
paid by the standard number of hours for full-time
employees.
``(B) Investment or revenue.--The term `investment
or revenue' does not include any assets acquired,
directly or indirectly, by unlawful means. The term
`investment' includes assets provided by the alien
entrepreneur and may include assets, including venture
capital investments, provided pursuant to an investment
agreement with investors who are United States citizens
or aliens lawfully admitted to the United States for
permanent residence.
``(C) United states worker.--The term `United
States worker' means an employee (other than the
immigrant or the immigrant's spouse, sons, or
daughters) who--
``(i) is a citizen or national of the
United States; or
``(ii) is an alien who is lawfully admitted
for permanent residence, is admitted as a
refugee under section 207, is granted asylum
under section 208, or is an immigrant otherwise
authorized to be employed in the United States.
``(D) Distressed area development zones.--The term
`Distressed Area Development Zone' means--
``(i) a low-income geographic area, as such
term is defined in section 351 of the Small
Business Investment Act of 1958 (15 U.S.C.
689); or
``(ii) a city or county in the United
States--
``(I) that has experienced high
unemployment (of not less than 150
percent of the national average, as
determined by the Secretary of Labor)
within the preceding 24 months; or
``(II) has had a 20 percent or more
decrease in population since 1970.
``(3) Priority date.--The priority date for any alien who
is adjusting status from any nonimmigrant classification
described in section 101(a)(15) and who receives a national
interest waiver under paragraph (1)(B)(iii) or (6) of section
203(b) shall be the date of the first petition or application
for status under section 101(a)(15) filed with respect to that
alien.''.
(2) Conforming amendment.--Section 204(a)(1)(E) of the
Immigration and Nationality Act is amended by inserting ``or
under paragraph (1), (2) or (3) of section 203(b) if such alien
is seeking a national interest waiver under paragraph
(1)(B)(iii) or (6) of section 203(b)'' after ``203(b)(1)(A)''.
SEC. 5. EB-5 VISA REFORMS.
(a) Aliens Not Subject to Direct Numerical Limitation.--Section
201(b)(1) of the Immigration and Nationality Act (8 U.S.C. 1151(b)(1))
is amended by adding at the end the following:
``(P) Aliens who are the spouse or a child of an
alien admitted as an employment-based immigrant under
section 203(b)(5).''.
(b) Age Determination for Children of Alien Investors.--Section
203(h) of the Immigration and Nationality Act (8 U.S.C. 1153(h)) is
amended by adding at the end the following:
``(5) Age determination for children of alien investors.--
An alien admitted under subsection (d) as a lawful permanent
resident on a conditional basis as the child of an alien
lawfully admitted for permanent residence under subsection
(b)(5), whose lawful permanent resident status on a conditional
basis is terminated under section 216A, shall continue to be
considered a child of the principal alien for the purpose of a
subsequent immigrant petition by such alien under subsection
(b)(5) if the alien remains unmarried and the subsequent
petition is filed by the principal alien not later than 1 year
after the termination of conditional lawful permanent resident
status. No alien shall be considered a child under this
paragraph with respect to more than 1 petition filed after the
alien's 21st birthday.''.
(c) Enhanced Pay Scale for Certain Federal Employees Administering
the EB-5 Program.--The Secretary may establish, fix the compensation
of, and appoint individuals to, designated critical administrative,
technical, and professional positions needed to administer sections
203(b)(5) and 216A of the Immigration and Nationality Act (8 U.S.C.
1153(b)(5) and 1186b).
(d) Delegation of Certain EB-5 Authority.--
(1) In general.--The Secretary of Homeland Security may
delegate to the Secretary of Commerce authority and
responsibility for determinations under sections 203(b)(5) and
216A (with respect to alien entrepreneurs) of the Immigration
and Nationality Act (8 U.S.C. 1153(b)(5) and 1186a), including
determining whether an alien has met employment creation
requirements.
(2) Regulations.--The Secretary of Homeland Security and
the Secretary of Commerce may each adopt such rules and
regulations as are necessary to carry out the delegation
authorized under paragraph (1), including regulations governing
the eligibility criteria for obtaining benefits pursuant to the
amendments made by this section.
(3) Use of fees.--Adjudication fees described in section
286(m) of the Immigration and Nationality Act (8 U.S.C.
1356(m)) shall remain available until expended to reimburse the
Secretary of Commerce for the costs of any determinations made
by the Secretary of Commerce under paragraph (1).
(e) Concurrent Filing of EB-5 Petitions and Applications for
Adjustment of Status.--Section 245 (8 U.S.C. 1255) of the Immigration
and Nationality Act is amended--
(1) in subsection (k), in the matter preceding paragraph
(1), by striking ``or (3)'' and inserting ``(3), or (5)''; and
(2) by adding at the end the following:
``(n) At the time a petition is filed for classification under
section 203(b)(5), if the approval of such petition would make a visa
immediately available to the alien beneficiary, the alien beneficiary's
application for adjustment of status under this section shall be
considered to be properly filed whether the application is submitted
concurrently with, or subsequent to, the visa petition.''.
(f) Technical Amendment.--Section 203(b)(5) of the Immigration and
Nationality Act (8 U.S.C. 1153(b)(5)), as amended by this Act, is
further amended by striking ``Attorney General'' each place it appears
and inserting ``Secretary of Homeland Security''.
SEC. 6. NUMERICAL LIMITATIONS ON INDIVIDUAL FOREIGN STATES.
(a) Numerical Limitation to Any Single Foreign State.--Section
202(a)(2) of the Immigration and Nationality Act (8 U.S.C. 1152(a)(2))
is amended--
(1) in the paragraph heading, by striking ``and employment-
based'';
(2) by striking ``(3), (4), and (5),'' and inserting ``(3)
and (4),'';
(3) by striking ``subsections (a) and (b) of section 203''
and inserting ``section 203(a)'';
(4) by striking ``7'' and inserting ``15''; and
(5) by striking ``such subsections'' and inserting ``such
section''.
(b) Conforming Amendments.--Section 202 of the Immigration and
Nationality Act (8 U.S.C. 1152) is amended--
(1) in subsection (a)--
(A) in paragraph (3), by striking ``both
subsections (a) and (b) of section 203'' and inserting
``section 203(a)''; and
(B) by striking paragraph (5); and
(2) by amending subsection (e) to read as follows:
``(e) Special Rules for Countries at Ceiling.--If it is determined
that the total number of immigrant visas made available under section
202(a) to natives of any single foreign state or dependent area will
exceed the numerical limitation specified in subsection (a)(2) in any
fiscal year, in determining the allotment of immigrant visa numbers to
natives under section 203(a), visa numbers with respect to natives of
that state or area shall be allocated (to the extent practicable and
otherwise consistent with this section and section 203) in a manner so
that, except as provided in subsection (a)(4), the proportion of the
visa numbers made available under each of paragraphs (1) through (4) of
section 203(a) is equal to the ratio of the total number of visas made
available under the respective paragraph to the total number of visas
made available under section 203(a).''.
(c) Country-Specific Offset.--Section 2 of the Chinese Student
Protection Act of 1992 (8 U.S.C. 1255 note) is amended--
(1) in subsection (a), by striking ``subsection (e))'' and
inserting ``subsection (d))''; and
(2) by striking subsection (d) and redesignating subsection
(e) as subsection (d).
(d) Effective Date.--The amendments made by this section shall take
effect 1 year after the date of the enactment of this Act.
SEC. 7. APPLICABILITY OF FOREIGN CORRUPT PRACTICES ACT.
The Foreign Corrupt Practices Act (15 U.S.C. 78a et seq.) shall
apply to any petition under section 203(b)(5).
SEC. 8. REGULATIONS.
Not later than 180 days after the effective date of this subtitle,
the Secretary of Homeland Security shall make rules to carry out this
Act and the amendments made by this Act.
SEC. 9. CONSULTATION WITH SECRETARY OF COMMERCE.
The Secretary of Homeland Security may consult with the Secretary
of Commerce in carrying out this Act and the amendments made by this
Act.
SEC. 10. EFFECTIVE DATE.
This Act and the amendments made by this Act shall take effect
beginning on the date that is 6 months after the date of enactment of
this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on the Judiciary.
Referred to the Subcommittee on Immigration and Border Security.
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