Summary: S.J.Res.55 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.J.Res.55. Bill summaries are authored by CRS.

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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.