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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

American Job Creation and Investment Promotion Reform Act of 2016

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend section 203(b)(5) of the Immigration and Nationality Act to implement new reforms, and to reauthorize the EB-5 Regional Center Program, in order to promote and reform foreign capital investment and job creation in communities in the United States, and for other purposes.

Actions Overview (1)

Date Actions Overview
09/12/2016Introduced in House

All Actions (3)

Date All Actions
09/26/2016Referred to the Subcommittee on Immigration and Border Security.
Action By: Committee on the Judiciary
09/12/2016Referred to the House Committee on the Judiciary.
Action By: House of Representatives
09/12/2016Introduced in House
Action By: House of Representatives

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Conyers, John, Jr. [D-MI-13]* 09/12/2016

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Judiciary09/12/2016 Referred to
House Judiciary Subcommittee on Immigration and Border Security09/26/2016 Referred to

No related bill information was received for H.R.5992.

Latest Summary (1)

There is one summary for H.R.5992. View summaries

Shown Here:
Introduced in House (09/12/2016)

American Job Creation and Investment Promotion Reform Act of 2016

This bill amends the Immigration and Nationality Act to revise EB-5 (alien immigrant investor) provisions, including regional center program provisions.

The bill prescribes E-B5 requirements regarding: (1) fund sources; (2) threats to the national interest; and (3) fraud, misrepresentation,and criminal misuse.

Future program participation is barred for a person who knowingly participated in conduct that caused a program center's termination.

The EB-5 regional center program is extended through September 30, 2021.

EB-5 investors must be at least 18 years old.

The bill: (1) provides initial conditional permanent resident status for an alien investor (and the investor's spouse and children), and (2) sets aside 2,000 EB-5 visas for aliens who invest in rural areas and 2,000 EB-5 visas for aliens who invest in priority urban investment areas.

A regional center shall operate within a defined geographic area and shall be consistent with the purpose of concentrating pooled investment within such area.

The bill prescribes job creation requirements.

Approved regional centers must give advance notice to the Department of Homeland Security (DHS) of significant proposed changes to their organizational structure, ownership, or administration.

U.S. nationals are included in the minimum of 10 U.S. persons for whom an EB-5 project must provide employment.

Only a U.S. national or lawfully admitted permanent resident may be involved with a regional center.

A regional center shall monitor and supervise all offers, purchases, and sales of securities made by associated parties to ensure compliance with U.S. securities laws.

The bill establishes the EB-5 Integrity Fund.

The bill prescribes fund source and gift restrictions.

Minimum investment amounts are increased.

The bill authorizes concurrent filing of EB-5 petitions and applications for adjustment to conditional lawful permanent resident status.