S.J.Res.55 - A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Acting Secretary of Homeland Security relating to "Immigrant Investor Program Modernization"116th Congress (2019-2020)
|Sponsor:||Sen. Paul, Rand [R-KY] (Introduced 09/24/2019)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 09/24/2019 Read twice and referred to the Committee on the Judiciary. (All Actions)|
This bill has the status Introduced
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Summary: S.J.Res.55 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (09/24/2019)
This joint resolution prohibits the rule changes related to the EB-5 investor program and submitted by the Department of Homeland Security in 84 Fed. Reg. 35750 on July 24, 2019, from taking effect.
The EB-5 visa provides lawful permanent residence to foreign nationals who invest a specified amount of capital in a new commercial enterprise in the United States and create at least 10 jobs. The changes under the rule include (1) increasing the minimum required investment amounts to qualify for an EB-5 visa, and (2) changing the criteria for determining when an area qualifies as a targeted employment area.