US HB2901 | 2021-2022 | 117th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on April 28 2021 - 25% progression
Action: 2021-10-19 - Referred to the Subcommittee on Immigration and Citizenship.
Pending: House Subcommittee on Immigration and Citizenship Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

EB–5 Reform and Integrity Act of 2021

Sponsors


History

DateChamberAction
2021-10-19HouseReferred to the Subcommittee on Immigration and Citizenship.
2021-04-28HouseReferred to the House Committee on the Judiciary.
2021-04-28HouseIntroduced in House

Same As/Similar To

SB831 (Same As) 2021-03-18 - Read twice and referred to the Committee on the Judiciary.

Subjects

Accounting and auditing
Administrative law and regulatory procedures
Administrative remedies
Business investment and capital
Business records
Congressional oversight
Department of Homeland Security
Drug trafficking and controlled substances
Economic development
Employee hiring
Espionage and treason
Evidence and witnesses
Executive agency funding and structure
Family relationships
Financial services and investments
Foreign labor
Fraud offenses and financial crimes
Government ethics and transparency, public corruption
Government information and archives
Government studies and investigations
Government trust funds
Human rights
Human trafficking
Immigration
Immigration status and procedures
Intellectual property
Securities
Smuggling and trafficking
Terrorism
U.S. and foreign investments
User charges and fees
Visas and passports

US Congress State Sources


Bill Comments

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