H.R. 1502 · 115th Congress
To terminate the EB-5 program.
- Stage
- In committee
- Sponsor
- Steve King
- Introduced
- 2017-03-10
- Latest action
- 2017-03-31 · Referred to the Subcommittee on Immigration and Border Security.
Summary
This bill amends the Immigration and Nationality Act to eliminate the EB-5 visa category.
The Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 is amended to terminate the EB-5 regional center pilot program.
The EB-5 visa provides lawful permanent residence to foreign nationals who invest (directly or through a regional center) a specified amount of capital in a new commercial enterprise in the United States and create at least 10 jobs.