Posted on: February 3rd, 2015
by Greg Siskind
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Jared Polis (D-CO) and Mark Amodei (R-NV) have introduced H.R. 616, The American Entrepreneurship and Investment Act of 2015. The bill would modernize and permanently authorize the EB-5 immigrant investor program. Representative Polis’ press release on the bill can be found here. The full text can be found here. Among the subjects covered in the bill are –

– defining Targeted Employment Areas

– job creation methodology

– pre-approval of regional center projects

– anti-fraud measures for regional center petitioners

– time limits on EB-5 adjudication

– removing spouses and children from the EB-5 cap

– freezing the age of children for removal of conditions applications

– authorizing the delegation of EB-5 functions to the Department of Commerce

– concurrent filing of I-526 and I-485 applications

The bill would also eliminate per country quotas in employment-based petitions and double the number in family cases.