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.