Bill Sponsor
House Bill 2901
117th Congress(2021-2022)
EB–5 Reform and Integrity Act of 2021
Introduced
Introduced
Introduced in House on Apr 28, 2021
Overview
Text
Introduced
Apr 28, 2021
Latest Action
Oct 19, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2901
Congress
117
Policy Area
Immigration
Immigration
Primary focus of measure is administration of immigration and naturalization matters; immigration enforcement procedures; refugees and asylum policies; travel and residence documentation; foreign labor; benefits for immigrants. Measures concerning smuggling and trafficking of persons may fall under Crime and Law Enforcement policy area. Measures concerning refugees may fall under International Affairs policy area.
Sponsorship by Party
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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. 

Text (1)
April 28, 2021
Actions (3)
10/19/2021
Referred to the Subcommittee on Immigration and Citizenship.
04/28/2021
Referred to the House Committee on the Judiciary.
04/28/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:48:32 PM