I 
114TH CONGRESS 
1ST SESSION H. R. 3370 
To amend the Immigration and Nationality Act to promote innovation, 
investment, and research in the United States, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 29, 2015 
Ms. LOFGREN (for herself and Mr. GUTIE´RREZ) introduced the following bill; 
which was referred to the Committee on the Judiciary, and in addition 
to the Committees on Education and the Workforce and Rules, for a pe-
riod to be subsequently determined by the Speaker, in each case for con-
sideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
A BILL 
To amend the Immigration and Nationality Act to promote 
innovation, investment, and research in the United 
States, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as— 
(1) the ‘‘Entrepreneurial Businesses Creating 
Jobs Act of 2015’’; or 
(2) the ‘‘EB-JOBS Act of 2015’’. 
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TITLE 
I—PROMOTING 
ENTRE-
PRENEURSHIP AND INNOVA-
TION 
SEC. 101. ENTREPRENEURS WHO ESTABLISH BUSINESSES 
AND CREATE JOBS IN THE UNITED STATES. 
(a) STARTUP
BUSINESS
AND
JOB
CREATION 
VISAS.—Section 203(b) of the Immigration and Nation-
ality Act (8 U.S.C. 1153(b)) is amended— 
(1) by redesignating paragraph (6) as para-
graph (8); and 
(2) by inserting after paragraph (5) the fol-
lowing: 
‘‘(6) STARTUP ENTREPRENEURS.— 
‘‘(A) IN GENERAL.—Visas shall be made 
available, notwithstanding subsection (a)(2) or 
(d) of section 201 or the matter preceding para-
graph (1) of this subsection, to qualified immi-
grants who are described in subparagraph (B) 
or (C). 
‘‘(B) VENTURE
CAPITAL-BACKED
START- 
UP ENTREPRENEURS.—An alien is described in 
this subparagraph if the alien intends to found 
and actively engage in the management or oper-
ations of a new commercial enterprise (which 
may include any entity formed for the purpose 
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of doing for-profit business) in the United 
States— 
‘‘(i) with respect to which the alien 
has completed an investment agreement re-
quiring an investment in the enterprise in 
an amount not less than— 
‘‘(I) $500,000 on the part of— 
‘‘(aa) a qualified venture 
capital fund whose investment 
adviser is a qualified venture cap-
ital entity; 
‘‘(bb) 1 or more angel inves-
tors (of which at least 1 such in-
vestor is a qualified super angel 
investor providing $100,000 of 
the required investment); or 
‘‘(cc) a qualified business 
entity; or 
‘‘(II) $100,000 through a quali-
fied seed accelerator; and 
‘‘(ii) which will benefit the United 
States economy, and, for purposes of this 
clause a commercial enterprise shall only 
be considered to benefit the United States 
economy if, during the 2-year period begin-
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ning on the date on which the alien obtains 
status pursuant to a visa issued under this 
paragraph, it will— 
‘‘(I) create permanent full-time 
employment for at least 5 United 
States workers; 
‘‘(II) raise not less than an addi-
tional $2,000,000 in capital invest-
ment; 
‘‘(III) generate not less than 
$1,000,000 in revenue; or 
‘‘(IV) create permanent full-time 
employment for at least 3 United 
States workers who are each paid an 
annual salary in an amount of not 
less than $100,000. 
‘‘(C) SELF-SPONSORED
STARTUP
ENTRE-
PRENEURS.—An alien is described in this sub-
paragraph if— 
‘‘(i) the alien has founded and is ac-
tively engaging in the management and op-
erations of a new commercial enterprise 
(which may include any entity formed for 
the purpose of doing for-profit business) in 
the United States; 
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‘‘(ii) the enterprise has created per-
manent full-time employment for at least 3 
United States workers; and 
‘‘(iii) by not later than the end of the 
2-year period beginning on the date on 
which the alien obtains status pursuant to 
a visa issued under this paragraph the en-
terprise will create permanent full-time 
employment for a total of— 
‘‘(I) at least 10 United States 
workers (which total may include the 
employment described in clause (ii)); 
or 
‘‘(II) at least 7 United States 
workers (which may include the em-
ployment described in clause (ii)) who 
are each paid an annual salary in an 
amount not less than $100,000. 
‘‘(D) INFLATION ADJUSTMENT.—Effective 
for the third fiscal year that begins more than 
6 months after the date of the enactment of 
this paragraph, and every third fiscal year 
thereafter, the monetary amounts described in 
subparagraphs (B) and (C) shall be increased 
by the percentage (if any) by which the Con-
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sumer Price Index for the month of June pre-
ceding the date on which such increase takes ef-
fect exceeds the Consumer Price Index for the 
same month of the calendar year 3 years prior. 
An increase described in the preceding sentence 
shall apply to aliens filing petitions under sec-
tion 204(a)(1)(H) on or after the date on which 
the increase takes effect. For purposes of this 
clause, the term ‘Consumer Price Index’ means 
the Consumer Price Index for all urban con-
sumers published by the Department of Labor. 
‘‘(E) DEFINITIONS.—For purposes of this 
paragraph: 
‘‘(i) PERMANENT FULL-TIME EMPLOY-
MENT.—The term ‘permanent full-time 
employment’ means employment in a posi-
tion that requires at least 35 hours of serv-
ice per week at any time, regardless of who 
fills the position, and which is expected to 
last for at least two years. Such employ-
ment may be satisfied on a full-time equiv-
alent basis by calculating the number of 
full-time employees who could have been 
employed if the reported number of hours 
worked by part-time employees had been 
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worked by full-time employees. Full-time 
equivalent employment shall be calculated 
by dividing the part-time hours paid by the 
standard number of hours for full-time em-
ployees. 
‘‘(ii) INVESTMENT.—The term ‘invest-
ment’ does not include investing any assets 
acquired, directly or indirectly, by unlawful 
means. 
‘‘(iii) 
INVESTMENT
ADVISER.—The 
term ‘investment adviser’ has the meaning 
given such term under section 202(a)(11) 
of the Investment Advisers Act of 1940 
(15 U.S.C. 80b–2(a)(11)). 
‘‘(iv) QUALIFIED BUSINESS ENTITY.— 
The term ‘qualified business entity’ means, 
with respect to a qualified immigrant, an 
entity that— 
‘‘(I) has been operating for a pe-
riod beginning on a date that is not 
less than 2 years before the date of 
the petition for classification under 
this paragraph; 
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‘‘(II) employs not fewer than 10 
United States workers in the United 
States; and 
‘‘(III) has employed the alien for 
not less than 1 year on the date of the 
petition for classification under this 
paragraph. 
‘‘(v) 
QUALIFIED
SEED
ACCEL-
ERATOR.—The term ‘qualified seed accel-
erator’ means, with respect to a qualified 
immigrant, an entity that— 
‘‘(I) is based in the United 
States; 
‘‘(II) has a majority of ownership 
and control that is held by individuals 
who are United States citizens or 
aliens lawfully admitted to the United 
States for permanent residence; 
‘‘(III) has been operating for a 
period of at least 2 years before the 
date of the petition for classification 
under this paragraph; and 
‘‘(IV) before the date of the peti-
tion for classification under this para-
graph, has made at least— 
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‘‘(aa) 5 seed investments in 
startup businesses that are each 
valued 
at 
not 
less 
than 
$100,000,000; or 
‘‘(bb) 20 seed investments in 
startup businesses that are to-
gether valued at not less than 
$150,000,000. 
‘‘(vi) QUALIFIED
SUPER
ANGEL
IN-
VESTOR.—The term ‘qualified super angel 
investor’ means, with respect to a qualified 
immigrant, an individual who— 
‘‘(I) is an accredited investor (as 
defined in section 230.501(a) of title 
17, Code of Federal Regulations (as 
in effect on April 1, 2010)); 
‘‘(II) is a United States citizen or 
an alien lawfully admitted to the 
United States for permanent resi-
dence; and 
‘‘(III) has made at least— 
‘‘(aa) 2 equity investments 
of not less than $50,000 in each 
of the 3 years before the date of 
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the petition for classification 
under this paragraph; or 
‘‘(bb) 15 equity investments 
with a total investment of not 
less than $250,000 during the 3- 
year period preceding the date of 
the petition for classification 
under this paragraph. 
‘‘(vii) QUALIFIED VENTURE CAPITAL 
ENTITY.—The term ‘qualified venture cap-
ital entity’ means, with respect to a quali-
fied immigrant, an entity that— 
‘‘(I) serves as an investment ad-
viser to a venture capital fund that is 
making an investment under this 
paragraph; 
‘‘(II) has its primary office loca-
tion or principal place of business in 
the United States; 
‘‘(III) has a majority of owner-
ship and control that is held by indi-
viduals who are United States citizens 
or aliens lawfully admitted to the 
United States for permanent resi-
dence; 
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‘‘(IV) has been advising one or 
more venture capital funds for a pe-
riod of at least 2 years before the date 
of the petition for classification under 
this paragraph; and 
‘‘(V) advises one or more venture 
capital funds that have made at 
least— 
‘‘(aa) 2 investments of not 
less than $500,000 in each of the 
2 years before the date of the pe-
tition for classification under this 
paragraph; or 
‘‘(bb) 15 investments with a 
total investment of not less than 
$3,000,000 during the 3-year pe-
riod preceding the date of the pe-
tition for classification under this 
paragraph. 
‘‘(viii) VENTURE
CAPITAL
FUND.— 
The term ‘venture capital fund’ means an 
entity— 
‘‘(I) that is classified as a ‘ven-
ture capital operating company’ under 
section 2510.3–101(d) of title 29, 
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Code of Federal Regulations (as in ef-
fect on January 1, 2015), or has man-
agement rights in its portfolio compa-
nies to the extent required by such 
section if the venture capital fund 
were classified as a venture capital op-
erating company; 
‘‘(II) has capital commitments of 
not less than $10,000,000; and 
‘‘(III) in which the majority of 
ownership and control of the general 
partner or managing members is held 
by individuals who are United States 
citizens or aliens lawfully admitted to 
the United States for permanent resi-
dence. 
‘‘(ix) SEED INVESTMENT.—The term 
‘seed investment’ means an investment in 
which a seed accelerator makes an invest-
ment into a startup business that is valued 
at less than $10 million at the time of the 
investment in exchange for at least 4 per-
cent of the equity in the startup busi-
nesses. 
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‘‘(x) UNITED STATES WORKER.—The 
term ‘United States worker’ means an em-
ployee (other than the immigrant or the 
immigrant’s spouse, son, or daughter) who 
is— 
‘‘(I) a citizen or national of the 
United States; or 
‘‘(II) an alien who is lawfully ad-
mitted for permanent residence, is ad-
mitted as a refugee under section 207, 
is granted asylum under section 208, 
or is an immigrant otherwise author-
ized to be employed in the United 
States. 
‘‘(F) DELEGATION OF CERTAIN EB–6 AU-
THORITY.— 
‘‘(i) IN GENERAL.—The Secretary of 
Homeland Security may delegate to the 
Secretary of Commerce authority and re-
sponsibility for determinations under sec-
tions 203(b)(6) and 216A (with respect to 
an alien entrepreneur who obtains status 
under section 203(b)(6)) of the Immigra-
tion and Nationality Act (8 U.S.C. 
1153(b)(6) and 1186b), including deter-
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mining whether an alien has met employ-
ment creation requirements. 
‘‘(ii) REGULATIONS.—The Secretary 
of Homeland Security and the Secretary of 
Commerce may each adopt such rules and 
regulations as are necessary to carry out 
the delegation authorized under clause (i), 
including regulations governing the eligi-
bility criteria for obtaining benefits pursu-
ant to this paragraph. 
‘‘(iii) USE
OF
FEES.—Adjudication 
fees described in section 286(m) of the Im-
migration and Nationality Act (8 U.S.C. 
1356(m)) shall remain available until ex-
pended to reimburse the Secretary of Com-
merce for the costs of any determinations 
made by the Secretary of Commerce under 
clause (i). 
‘‘(7) TREATY INVESTORS.—Visas shall be made 
available, notwithstanding subsection (a)(2) or (d) of 
section 201 or the matter preceding paragraph (1) 
of this subsection, to qualified immigrants who have 
been issued a visa or otherwise provided non-
immigrant status under section 101(a)(15)(E)(ii) 
(not including alien employees of the treaty inves-
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tor), maintained that status for a minimum of 10 
years, and created full-time employment for at least 
5 United States workers for a minimum of 10 
years.’’. 
(b) PROCEDURE FOR GRANTING IMMIGRANT STA-
TUS.—Section 204(a)(1)(H) of the Immigration and Na-
tionality Act (8 U.S.C. 1154(a)(1)(H)) is amended by 
striking ‘‘section 203(b)(5)’’ and inserting ‘‘paragraph 
(5), (6), or (7) of section 203(b)’’. 
(c) CONDITIONAL PERMANENT RESIDENT STATUS.— 
Section 216A of the Immigration and Nationality Act (8 
U.S.C. 1186b) is amended— 
(1) by striking ‘‘Attorney General’’ each place 
such term appears and inserting ‘‘Secretary of 
Homeland Security’’; 
(2) in subsection (b)(1)— 
(A) in subparagraph (A), by striking ‘‘in-
vestment’’ and inserting ‘‘investment or engage-
ment’’; 
(B) by amending subparagraph (B) to read 
as follows: 
‘‘(B) the requisite investment or engage-
ment was not made; or’’; and 
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(C) in subparagraph (C), by striking ‘‘sec-
tion 203(b)(5)’’ and inserting ‘‘paragraph (5) 
or (6) of section 203(b), as applicable’’; 
(3) in subsection (d)(1)— 
(A) in the matter preceding subparagraph 
(A), by striking ‘‘the alien’’; 
(B) by amending subparagraph (A) to read 
as follows: 
‘‘(A) the requisite investment or engage-
ment was made; and’’; and 
(C) in subparagraph (B), by striking ‘‘sec-
tion 203(b)(5)’’ and inserting ‘‘paragraph (5) 
or (6) of section 203(b), as applicable’’; and 
(4) in subsection (f)— 
(A) in paragraph (1), by striking ‘‘section 
203(b)(5)’’ and inserting ‘‘paragraph (5) or (6) 
of section 203(b)’’; and 
(B) in paragraph (3), by striking ‘‘a lim-
ited partnership’’ and inserting ‘‘any entity 
formed for the purpose of doing for-profit busi-
ness’’. 
(d) CAP EXEMPTION.—Section 201(b)(1) of the Im-
migration and Nationality Act (8 U.S.C. 1151(b)(1)), is 
amended by adding at the end the following: 
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‘‘(F) Aliens described in paragraph (6) or 
(7) of section 203(b).’’. 
SEC. 102. IMMIGRANT ENTREPRENEURS AND INNOVATORS 
PRESENT IN THE UNITED STATES. 
Section 245 of the Immigration and Nationality Act 
(8 U.S.C. 1255) is amended by adding at the end the fol-
lowing: 
‘‘(n) IMMIGRANT ENTREPRENEURS AND INNOVATORS 
PRESENT IN THE UNITED STATES.—An alien who is eligi-
ble to receive an immigrant visa under paragraph (6) or 
(7) of section 203(b) may adjust status pursuant to sub-
section (a) and notwithstanding paragraph (2), (7), or (8) 
of subsection (c) and paragraphs (6)(A) and (7) of section 
212(a), if the alien was present in the United States on 
the date of the enactment of the EB-JOBS Act of 2015 
and has been continuously present since that date.’’. 
TITLE II—PROMOTING INVEST-
MENT 
IN 
THE 
AMERICAN 
ECONOMY 
SEC. 201. EB–5 EMPLOYMENT CREATION INVESTOR PRO-
GRAM. 
(a) PERMANENT AUTHORIZATION OF EB–5 EMPLOY-
MENT CREATION REGIONAL CENTER PROGRAM.—Section 
203(b)(5) of the Immigration and Nationality Act (8 
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U.S.C. 1153(b)(5)) is amended by adding at the end the 
following: 
‘‘(E) SET-ASIDE FOR EMPLOYMENT CRE-
ATION REGIONAL CENTERS.— 
‘‘(i) IN GENERAL.—Of the visas other-
wise available under this paragraph, the 
Secretary of State, together with the Sec-
retary of Homeland Security, shall set 
aside at least 5,000 visas for a program in-
volving regional centers designated by the 
Secretary of Homeland Security, on the 
basis of a general proposal, for the pro-
motion of economic growth, including im-
proved regional productivity, job creation, 
or increased domestic capital investment. A 
regional center shall have jurisdiction over 
a specific geographic area, which shall be 
described in the proposal and consistent 
with the purpose of concentrating pooled 
investment in defined economic zones. The 
establishment of a regional center under 
this subparagraph may be based on gen-
eral predictions, contained in the proposal, 
concerning the kinds of new commercial 
enterprises that will receive capital from 
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aliens under this paragraph, the jobs that 
will be created (directly or indirectly) as a 
result of such capital investments and the 
other positive economic effects such capital 
investments will have. 
‘‘(ii) 
METHODOLOGIES.—In 
deter-
mining compliance with this subparagraph, 
and notwithstanding requirements applica-
ble to investors not involving regional cen-
ters, the Secretary of Homeland Security, 
in consultation with the Secretary of Com-
merce, shall recognize reasonable meth-
odologies for determining the number of 
jobs created by a designated regional cen-
ter, including such jobs that are estimated 
to have been created indirectly through 
revenues generated from increased exports, 
improved regional productivity, or in-
creased domestic capital investment result-
ing from the regional center. The Sec-
retary may consider estimated job creation 
outside the geographic boundary of a des-
ignated regional center if such estimate is 
supported by substantial evidence and con-
stitutes no more than 50 percent of the 
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overall number of jobs estimated to be cre-
ated by such regional center. 
‘‘(iii) PREAPPROVAL
OF
NEW
COM-
MERCIAL ENTERPRISES.—The Secretary of 
Homeland 
Security 
shall 
establish 
a 
preapproval procedure that— 
‘‘(I) allows a regional center to 
apply to the Secretary for approval of 
a 
particular 
investment 
offering 
through a new commercial enterprise 
before any alien files a petition for 
classification under this paragraph by 
reason of investment in the new com-
mercial enterprise; 
‘‘(II) in considering an applica-
tion under subclause (I), requires that 
the Secretary make final decisions on 
all issues under this paragraph other 
than those issues unique to an indi-
vidual investor in the new commercial 
enterprise; and 
‘‘(III) requires that the Secretary 
eliminate the need for the repeated 
submission of documentation that is 
common to multiple petitions for clas-
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sification 
under 
this 
paragraph 
through a regional center. 
‘‘(iv) FEE
FOR
REGIONAL
CENTER 
DESIGNATION.—In addition to any other 
fees authorized by law, the Secretary of 
Homeland Security shall impose a fee to 
apply for designation as an EB–5 regional 
center under this paragraph. Fees collected 
under this paragraph shall be deposited in 
the Treasury in accordance with section 
286(y). 
‘‘(v) SITE
VISITS.—The Secretary 
shall perform site visits on a random basis 
of not less than 5 percent of all approved 
regional center capital investment projects 
each fiscal year. 
‘‘(F) REGIONAL CENTER ANNUAL STATE-
MENTS.— 
‘‘(i) IN GENERAL.—Each regional cen-
ter designated under subparagraph (E) 
shall annually submit, to the Director of 
United States Citizenship and Immigration 
Services (referred to in this subparagraph 
as the ‘Director’), in a manner prescribed 
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by the Secretary of Homeland Security, 
statements, including— 
‘‘(I) a description of any pending 
litigation or bankruptcy proceedings 
or 
litigation 
or 
bankruptcy 
pro-
ceedings resolved during the preceding 
fiscal year, involving the regional cen-
ter or an associated commercial enter-
prise; 
‘‘(II) an accounting of all foreign 
investor money invested in the re-
gional center or its associated com-
mercial enterprises; and 
‘‘(III) for each associated com-
mercial enterprise— 
‘‘(aa) an accounting of the 
aggregate capital invested in the 
associated commercial enterprise 
by immigrants under subpara-
graph (E) for each capital invest-
ment project being undertaken by 
the associated commercial enter-
prise; 
‘‘(bb) a description of how 
such capital is being used to exe-
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cute 
each 
capital 
investment 
project in the approved business 
plan; 
‘‘(cc) evidence that 100 per-
cent of such capital has been ir-
revocably committed to each cap-
ital investment project; 
‘‘(dd) detailed evidence of 
the progress made toward the 
completion of the capital invest-
ment project; 
‘‘(ee) an accounting of the 
aggregate direct and indirect jobs 
created or preserved; 
‘‘(ff) for all fees collected 
from alien entrepreneurs by any 
party in connection with the as-
sociated commercial enterprise, 
including 
administrative, 
loan 
monitoring, or loan management 
fees— 
‘‘(AA) a description of 
all fees collected; 
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‘‘(BB) a list of the enti-
ties that received such fees; 
and 
‘‘(CC) the purpose for 
which such fees were col-
lected; and 
‘‘(gg) a certification by the 
regional center that such state-
ments are accurate. 
‘‘(ii) ASSOCIATED
COMMERCIAL
EN-
TERPRISE.—For purposes of this para-
graph, the term ‘associated commercial en-
terprise’ means any for-profit entity that 
associates with a regional center and re-
ceives, or is established to receive, capital 
investment under the regional center pro-
gram described in subparagraph (E). 
‘‘(iii) 
AMENDMENT
OF
ANNUAL 
STATEMENTS.—If the Director determines 
that an annual statement submitted pursu-
ant to clause (i) is deficient, the Director 
may require the regional center to amend 
or supplement such annual statement. 
‘‘(iv) SANCTIONS.— 
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‘‘(I) EFFECT OF VIOLATION.—If 
a regional center fails to submit an 
annual statement or if the Director 
determines— 
‘‘(aa) that a statement sub-
mitted pursuant to this subpara-
graph is materially inaccurate or 
insufficient; or 
‘‘(bb) that the regional cen-
ter is conducting itself in a man-
ner inconsistent with its designa-
tion, 
the Director may sanction the vio-
lating entity or individual under sub-
clause (II). 
‘‘(II) AUTHORIZED SANCTIONS.— 
The Director shall establish a grad-
uated set of sanctions for violations 
referred to in subclause (I), includ-
ing— 
‘‘(aa) fines equal to not 
more than 5 percent of the total 
capital invested by immigrant in-
vestors in the commercial enter-
prise, the payment of which shall 
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not in any circumstance utilize 
any of such alien entrepreneurs’ 
capital investment; 
‘‘(bb) temporary suspension 
from participation in the pro-
gram described in subparagraph 
(E), which may be lifted by the 
Director if the individual or enti-
ty cures the alleged violation 
after being provided such an op-
portunity by the Director; 
‘‘(cc) permanent bar from 
program participation for 1 or 
more individuals involved with 
the regional center; and 
‘‘(dd) termination of re-
gional center status. 
‘‘(G) BONA FIDES OF PERSONS INVOLVED 
WITH REGIONAL CENTERS OR ASSOCIATED COM-
MERCIAL ENTERPRISES.— 
‘‘(i) IN GENERAL.—No person shall be 
permitted by any regional center or associ-
ated commercial enterprise to be involved 
with the regional center or associated com-
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mercial enterprise if the Secretary of 
Homeland Security— 
‘‘(I) determines such person has 
been found liable within the previous 
5 years for any criminal or civil viola-
tion of any law relating to fraud or 
deceit, or at any time if such violation 
involved a criminal conviction with a 
term of imprisonment of at least 1 
year or a criminal or civil violation of 
any law or agency regulation in con-
nection with the purchase or sale of a 
security; or 
‘‘(II) knows or has reasonable 
cause to believe that the person is en-
gaged in, has ever been engaged in, or 
seeks to engage in any— 
‘‘(aa) illicit trafficking in 
any controlled substance; 
‘‘(bb) activity relating to es-
pionage or sabotage; 
‘‘(cc) 
activity 
related 
to 
money laundering (as described 
in section 1956 or 1957 of title 
18, United States Code); 
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‘‘(dd) terrorist activity (as 
defined in clauses (iii) and (iv) of 
section 212(a)(3)(B)); 
‘‘(ee) human trafficking or 
human rights offense; or 
‘‘(ff) violation of any stat-
ute, 
regulation, 
or 
Executive 
order regarding foreign financial 
transactions or foreign asset con-
trol. 
‘‘(ii) PERSONS INVOLVED WITH A RE-
GIONAL CENTER OR ASSOCIATED COMMER-
CIAL
ENTERPRISE.—For the purposes of 
this paragraph, a person is considered to 
be ‘involved’ with a regional center or an 
associated commercial enterprise if he or 
she is the principal, representative, admin-
istrator, owner, officer, board member, 
manager, executive, general partner, fidu-
ciary, marketer, promoter, director, or 
other similar position of substantial au-
thority for the operations, management, or 
promotion of the regional center or associ-
ated commercial enterprise, respectively. 
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‘‘(iii) STATUS OF REGIONAL CENTER 
PRINCIPALS.— 
‘‘(I) 
LAWFUL
STATUS
RE-
QUIRED.—No person may be directly 
or indirectly involved with a regional 
center unless the person is a national 
of the United States or an individual 
who has been lawfully admitted for 
permanent residence. 
‘‘(II) FOREIGN GOVERNMENTS.— 
No foreign government entity may be 
directly or indirectly associated with 
the ownership or administration of a 
regional center. 
‘‘(iv) INFORMATION REQUIRED.—The 
Secretary shall require such attestations 
and information, including the submission 
of fingerprints to the Federal Bureau of 
Investigation, and shall perform such 
criminal record checks and other back-
ground checks with respect to a regional 
center, and persons involved in a regional 
center or associated commercial enterprise, 
as described in clause (i), as the Secretary 
considers appropriate to determine whether 
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the regional center or associated commer-
cial enterprise is in compliance with clause 
(i). The Secretary may require the infor-
mation and attestations described in this 
clause from such regional center or associ-
ated commercial enterprise, and any per-
son involved in the regional center or asso-
ciated commercial enterprise, at any time 
on or after the date of the enactment of 
the EB-JOBS Act of 2015. 
‘‘(v) CERTIFICATION.—A regional cen-
ter must provide a certification on an an-
nual basis that it remains in compliance 
with clauses (i) and (iii). 
‘‘(vi) TERMINATION.—The Secretary 
shall terminate any regional center from 
the program that fails to provide a certifi-
cation as required under clause (v). The 
Secretary may terminate any regional cen-
ter from the program under this paragraph 
if he or she determines that— 
‘‘(I) the regional center or associ-
ated commercial enterprise has vio-
lated clause (i); 
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‘‘(II) the regional center is in vio-
lation of clause (iii); 
‘‘(III) the regional center or asso-
ciated commercial enterprise or any 
person involved with the regional cen-
ter or associated commercial enter-
prise has provided any false attesta-
tion or information under clause (iv); 
or 
‘‘(IV) the regional center or asso-
ciated commercial enterprise or any 
person involved with the regional cen-
ter or associated commercial enter-
prise fails to provide an attestation or 
information requested by the Sec-
retary under clause (iv). 
‘‘(H) REGIONAL
CENTER
COMPLIANCE 
WITH SECURITIES LAWS.— 
‘‘(i) CERTIFICATION REQUIRED.—The 
Secretary of Homeland Security shall not 
approve an application for regional center 
designation or regional center amendment 
that does not certify that the regional cen-
ter and, to the best knowledge of the appli-
cant, all parties to the regional center are 
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in, and will maintain, compliance with the 
securities laws of the United States. 
‘‘(ii) 
MONITORING
AND
SUPER-
VISION.—In furtherance of the certification 
described in clause (i), the regional center 
shall be required to monitor and supervise 
all offers and sales of securities which are 
made by associated commercial enterprises 
to ensure compliance with the securities 
laws of the United States, and to maintain 
records, data, and information relating to 
all such offers and sales of securities. 
‘‘(iii) 
TERMINATION
OR
SUSPEN-
SION.—The Secretary shall terminate the 
designation of any regional center that 
does not provide the certification described 
in clause (i) on an annual basis. In addi-
tion to any other authority provided to the 
Secretary regarding the regional center 
program described in subparagraph (E), 
the Secretary may, in the Secretary’s 
unreviewable discretion, suspend or termi-
nate the designation of any regional center 
if he or she determines that the regional 
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center or any party to the regional cen-
ter— 
‘‘(I) is permanently or tempo-
rarily enjoined by order, judgment, or 
decree of any court of competent ju-
risdiction in connection with the offer, 
purchase, or sale of a security; 
‘‘(II) is subject to any final order 
of the Securities and Exchange Com-
mission that— 
‘‘(aa) bars such person from 
association with an entity regu-
lated by the Securities and Ex-
change Commission; or 
‘‘(bb) constitutes a final 
order based on violations in con-
nection with the offer, purchase, 
or sale of a security; or 
‘‘(III) knowingly submitted or 
caused to be submitted a certification 
described in clause (i) that contained 
an untrue statement of a material fact 
or omitted to state a material fact 
necessary in order to make the state-
ments made, in the light of the cir-
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cumstances under which they were 
made, not misleading. 
‘‘(iv) SAVINGS
PROVISION.—Nothing 
in this subparagraph may be construed to 
impair or limit the authority of the Securi-
ties and Exchange Commission under the 
Federal securities laws. 
‘‘(v) DEFINED TERM.—For the pur-
pose of this subparagraph, the term ‘party 
to the regional center’ means— 
‘‘(I) the regional center or associ-
ated commercial enterprise; 
‘‘(II) the regional center or asso-
ciated commercial enterprise’s owners, 
officers, directors, managers, partners, 
agents, employees, promoters, and at-
torneys; and 
‘‘(III) any person in active con-
cert or participation with the regional 
center or associated commercial enter-
prise or directly or indirectly control-
ling, controlled by, or under common 
control with the regional center or as-
sociated commercial enterprise. 
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‘‘(I) FRAUD, MISREPRESENTATION, CRIMI-
NAL MISUSE, AND THREATS TO NATIONAL SE-
CURITY.—If the Secretary of Homeland Secu-
rity determines that participation of the re-
gional center in the program is contrary to the 
national interest of the United States, poses a 
threat to national security, or that the regional 
center or any person involved with the regional 
center is engaged or seeks to engage in any 
criminal or civil violation of any law relating to 
fraud, deceit, misrepresentation, or criminal 
misuse, the Secretary may— 
‘‘(i) deny or revoke an approval of a 
regional center designation; 
‘‘(ii) terminate an approved regional 
center designation; 
‘‘(iii) deny or revoke a preapproval 
under section 203(b)(5)(E)(iii) of the Im-
migration and Nationality Act; 
‘‘(iv) deny or revoke a petition seeking 
classification of an alien as an alien inves-
tor under this paragraph; or 
‘‘(v) deny a petition to remove condi-
tions under section 216A. 
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‘‘(J) DELEGATION OF CERTAIN EB–5 AU-
THORITY.— 
‘‘(i) IN GENERAL.—The Secretary of 
Homeland Security may delegate to the 
Secretary of Commerce authority and re-
sponsibility for determinations under sec-
tions 203(b)(5) and 216A (with respect to 
an alien entrepreneur who obtains status 
under section 203(b)(5)) of the Immigra-
tion and Nationality Act (8 U.S.C. 
1153(b)(5) and 1186a), including deter-
mining whether an alien has met employ-
ment creation requirements. 
‘‘(ii) REGULATIONS.—The Secretary 
of Homeland Security and the Secretary of 
Commerce may each adopt such rules and 
regulations as are necessary to carry out 
the delegation authorized under clause (i), 
including regulations governing the eligi-
bility criteria for obtaining benefits pursu-
ant to this subsection. 
‘‘(iii) USE
OF
FEES.—Adjudication 
fees described in section 286(m) of the Im-
migration and Nationality Act (8 U.S.C. 
1356(m)) shall remain available until ex-
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pended to reimburse the Secretary of Com-
merce for the costs of any determinations 
made by the Secretary of Commerce under 
clause (i).’’. 
(b) 
TARGETED
EMPLOYMENT
AREAS.—Section 
203(b)(5)(B) of the Immigration and Nationality Act (8 
U.S.C. 1153(b)(5)(B)) is amended as follows: 
(1) SET ASIDE VISAS.—In clause (i), to read as 
follows: 
‘‘(i)(I) Not less than 2,000 of the 
visas made available under this paragraph 
in each fiscal year shall be reserved for 
qualified immigrants who invest in a new 
commercial enterprise described in sub-
paragraph (A) which will create employ-
ment in an area described in clause (ii)(I). 
‘‘(II) Not less than 4,000 of the visas 
made available under this paragraph in 
each fiscal year shall be reserved for quali-
fied immigrants who invest in a new com-
mercial enterprise described in subpara-
graph (A) which will create employment in 
an area described in clause (ii)(II). 
‘‘(III) Not less than 2,000 of the visas 
made available under this paragraph in 
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each fiscal year shall be reserved for quali-
fied immigrants who invest in a new com-
mercial enterprise described in subpara-
graph (A) which will create employment in 
an area described in subclause (III), (IV), 
or (V) of clause (ii). 
‘‘(IV) 
Notwithstanding 
section 
203(b)(1), any visa number made available 
by subclause (I), (II), or (III), and which 
has not been used at the end of the fiscal 
year in which it was made available, will 
remain available for qualified immigrants 
as described in each respective subclause.’’. 
(2) TARGETED EMPLOYMENT AREA DEFINED.— 
In clause (ii), to read as follows: 
‘‘(ii) TARGETED EMPLOYMENT AREA 
DEFINED.—In this paragraph, the term 
‘targeted employment area’ means— 
‘‘(I) a rural area; 
‘‘(II) an area that has experi-
enced high unemployment (of at least 
150 percent of the national average 
rate) within the preceding 12 months; 
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‘‘(III) a county that has had a 20 
percent or more decrease in popu-
lation since 1970; 
‘‘(IV) an area that is within the 
boundaries established for purposes of 
a State or Federal economic develop-
ment incentive program, including 
areas defined as Enterprise Zones, 
Renewal Communities and Empower-
ment Zones; or 
‘‘(V) an area within the geo-
graphic boundaries of any military in-
stallation closed pursuant to a base 
closure law (as defined in section 
101(a)(17) of title 10, United States 
Code).’’. 
(3) RURAL AREA DEFINED.—In clause (iii), by 
striking ‘‘within a metropolitan statistical area or’’. 
(4) AREA THAT HAS EXPERIENCED HIGH UN-
EMPLOYMENT
DEFINED.—By adding after clause 
(iii) the following: 
‘‘(iv) AREA THAT HAS EXPERIENCED 
HIGH
UNEMPLOYMENT.—The term ‘area 
that has experienced high unemployment’ 
means an area, comprising of one or more 
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contiguous census tracts within one Core 
Based Statistical Area, that has an unem-
ployment rate that is at least 150 percent 
of the national average unemployment 
rate, using the most recent census data 
available.’’. 
(5) EFFECT
OF
PRIOR
DETERMINATION.—By 
adding at the end the following: 
‘‘(v) EFFECT OF PRIOR DETERMINA-
TION.—In a case in which a geographic 
area is determined under clause (ii) to be 
a targeted employment area, such deter-
mination shall remain in effect during the 
5-year period beginning on the date of the 
determination for purposes of any alien 
seeking a visa reserved under this subpara-
graph.’’. 
(c) 
CALCULATING
JOB
CREATION.—Section 
203(b)(5)(D) of such Act (8 U.S.C. 1153(b)(5)(D)) is 
amended to read as follows: 
‘‘(D) PERMANENT
FULL-TIME
EMPLOY-
MENT.—In this paragraph, the term ‘perma-
nent full-time employment’ means employment 
in a position that requires at least 35 hours of 
service per week at any time, regardless of who 
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fills the position and which is expected to last 
for at least two years. Such employment may be 
satisfied on a full-time equivalent basis by cal-
culating the number of full-time employees that 
could have been employed if the reported num-
ber of hours worked by part-time employees had 
been worked by full-time employees. Full-time 
equivalent employment shall be calculated by di-
viding the part-time hours paid by the standard 
number of hours for full-time employees.’’. 
(d) CAPITAL.—Section 203(b)(5)(C) of the Immigra-
tion and Nationality Act (8 U.S.C. 1153(b)(5)(C)) is 
amended by adding at the end the following: 
‘‘(iv) CAPITAL
DEFINED.—For pur-
poses of this paragraph, the term ‘capital’ 
does not include any assets acquired, di-
rectly or indirectly, by unlawful means. 
‘‘(v) INFLATION ADJUSTMENT.— 
‘‘(I) INITIAL ADJUSTMENT.—Ef-
fective for the first fiscal year that be-
gins more than 6 months after the 
date of the enactment of this sub-
clause, the amount specified in the 
first sentence of clause (i) shall be 
$2,000,000. An increase described in 
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the preceding sentence shall apply to 
aliens filing petitions under section 
204(a)(1)(H) on or after the date on 
which the increase takes effect, unless 
the petition is filed by reason of an in-
vestment in a new commercial enter-
prise for which a preapproval under 
section 203(b)(5)(E)(iii) was filed be-
fore the date the increase takes effect. 
‘‘(II) 
SUBSEQUENT
ADJUST-
MENTS.—The amount described in 
subclause (I) (as of the last increase 
to such amount) shall be increased 
every third year by the percentage (if 
any) by which the Consumer Price 
Index for the month of June pre-
ceding the date on which such in-
crease takes effect exceeds the Con-
sumer Price Index for the same 
month of the calendar year 3 years 
prior. An increase described in the 
preceding sentence shall apply to 
aliens filing petitions under section 
204(a)(1)(H) on or after the date on 
which the increase takes effect, unless 
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the petition is filed by reason of an in-
vestment in a new commercial enter-
prise for which a preapproval under 
section 203(b)(5)(E)(iii) was filed be-
fore the date the increase takes effect. 
‘‘(III) DEFINITION.—For pur-
poses of this clause, the term ‘Con-
sumer Price Index’ means the Con-
sumer Price Index for all urban con-
sumers published by the Department 
of Labor.’’. 
(e) TYPE OF INVESTMENT.—Section 203(b)(5)(A) of 
the 
Immigration 
and 
Nationality 
Act 
(8 
U.S.C. 
1153(b)(5)(A)), is amended as follows: 
(1) ANY FOR-PROFIT ENTITY CAN BE A NEW 
COMMERCIAL
ENTERPRISE.—In the matter pre-
ceding clause (i), by striking ‘‘including a limited 
partnership’’ and inserting ‘‘which may include any 
entity formed for the purpose of doing for-profit 
business’’. 
(2) LENGTH
OF
INVESTMENT
DEFINED.—In 
clause (i), by inserting ‘‘and which is expected to re-
main invested for not less than 2 years’’ after 
‘‘(C),’’. 
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(3) JOB CREATION BENEFITS THE ECONOMY.— 
By amending clause (ii) to read as follows: 
‘‘(ii) which will benefit the United 
States economy. A commercial enterprise 
will only be considered to benefit the 
United States economy if it will create per-
manent full-time employment for at least 
10 United States workers. For the pur-
poses of this paragraph, the term ‘United 
States worker’ means— 
‘‘(I) an employee (other than the 
immigrant or the immigrant’s spouse, 
son, or daughter) who is a citizen or 
national of the United States; or 
‘‘(II) is an alien who is lawfully 
admitted for permanent residence, is 
admitted as a refugee under section 
207, is granted asylum under section 
208, or is otherwise authorized to be 
employed in the United States.’’. 
(f) EXTENSION.—Subparagraph (A) of section 
216A(d)(2) of the Immigration and Nationality Act (8 
U.S.C. 1186b(d)(2)(A)) is amended by adding at the end 
the following: ‘‘The fourth anniversary shall be substituted 
for the second anniversary in applying the preceding sen-
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tence if the petitioner provides an explanation for the 
delay in filing the petition that is based on circumstances 
outside of the petitioner’s control, and demonstrates that 
such circumstances will be able to be resolved by the 
fourth anniversary.’’. 
(g) STUDY.— 
(1) IN GENERAL.—The Secretary of Homeland 
Security, in appropriate consultation with the Sec-
retary of Commerce and other interested parties, 
shall conduct a study concerning— 
(A) current job creation counting method-
ology and initial projections under section 
203(b)(5) of the Immigration and Nationality 
Act (8 U.S.C. 1153(b)(5)); and 
(B) how to best promote the employment 
creation program described in such section 
overseas to potential immigrant investors. 
(2) REPORT.—The Secretary of Homeland Se-
curity shall submit a report to the Committee on the 
Judiciary of the House of Representatives and the 
Committee on the Judiciary of the Senate not later 
than 1 year after the date of the enactment of this 
Act containing the results of the study conducted 
under paragraph (1). 
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(h) ANNUAL SITE VISIT REPORT.—Beginning on the 
date that is one year after the enactment of this Act, and 
every year thereafter, the Secretary of Homeland Security 
shall submit a report to the Committee on the Judiciary 
of the House of Representatives and the Committee on 
the Judiciary of the Senate on the site visits conducted 
pursuant to section 203(b)(5)(E)(v), including the number 
and locations of site visits conducted and the number and 
type of sanctions, if any, resulting from those site visits. 
(i) BIENNIAL REPORT.—Beginning on the date that 
is one year after the date of the enactment of this Act, 
and every 2 years thereafter, the Secretary of Homeland 
Security shall submit a report to the Committee on the 
Judiciary of the House of Representatives and the Com-
mittee on the Judiciary of the Senate that measures the 
economic impact of the regional center program described 
in section 203(b)(5)(E) of the Immigration and Nation-
ality Act (8 U.S.C. 1153(b)(5)(E)), including— 
(1) foreign and domestic capital investment; 
(2) the number of jobs directly and indirectly 
created; 
(3) any other economic benefits related to for-
eign investment under such program; and 
(4) the number of petitions under such section 
approved or denied for each regional center. 
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(j) RULEMAKING.—Not later than 120 days after the 
date of the enactment of this Act, the Secretary of Home-
land Security shall prescribe regulations to implement the 
amendments made by this section. 
SEC. 202. CONCURRENT FILING; ADJUSTMENT OF STATUS. 
Section 245 of the Immigration and Nationality Act 
(8 U.S.C. 1255) is amended— 
(1) in subsection (k), in the matter preceding 
paragraph (1), by striking ‘‘(1), (2), or (3)’’ and in-
serting ‘‘(1), (2), (3), (5), (6), or (7)’’; and 
(2) by adding at the end the following: 
‘‘(n) If, at the time a petition is filed under section 
204 for classification under paragraph (5), (6), or (7) of 
section 203(b), approval of the petition would make a visa 
immediately available to the alien beneficiary, the alien 
beneficiary’s adjustment application under this section 
shall be considered to be properly filed whether the appli-
cation is submitted concurrently with, or subsequent to, 
the visa petition.’’. 
SEC. 203. FEES; PREMIUM PROCESSING. 
(a) ESTABLISHMENT OF ACCOUNT; USE OF FEES.— 
Section 286 of the Immigration and Nationality Act (8 
U.S.C. 1356), as amended by this Act, is further amended 
by adding at the end the following: 
‘‘(y) IMMIGRANT ENTREPRENEUR ACCOUNT.— 
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‘‘(1) IN GENERAL.—There is established in the 
general fund of the Treasury a separate account, 
which shall be known as the ‘Immigrant Entre-
preneur Account’. Notwithstanding any other provi-
sion of law, there shall be deposited as offsetting re-
ceipts into the account all fees collected in connec-
tion with paragraph (5) or (6) of section 203(b) of 
this Act, section 216A of this Act, or section 610(b) 
of the Departments of Commerce, Justice, and 
State, the Judiciary, and Related Agencies Appro-
priations Act, 1993 (8 U.S.C. 1153 note). 
‘‘(2) USE OF FEES.—Fees collected under this 
section may only be used by the Secretary of Home-
land Security to administer and operate the employ-
ment creation program described in paragraph (5) 
or (6) of section 203(b).’’. 
(b) PREMIUM PROCESSING.—Section 286(u) of the 
Immigration and Nationality Act (8 U.S.C. 1356(u)) is 
amended by adding at the end the following: ‘‘In the case 
of a petition filed under section 204(a)(1)(H) for classi-
fication under paragraph (5) of section 203(b) and which 
was granted a preapproval under section 203(b)(5)(E)(iii), 
the Secretary shall provide premium processing services 
for a fee set at $5,000 and shall be deposited as offsetting 
receipts in the Immigrant Entrepreneur Account estab-
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lished under subsection (y). The Secretary may adjust this 
fee according to the Consumer Price Index.’’. 
SEC. 204. CONTINGENT INCREASE IN VISA NUMBER AVAIL-
ABILITY. 
Section 203(b)(5) of the Immigration and Nationality 
Act (8 U.S.C. 1153(b)(5)), as amended by this Act, is fur-
ther amended by adding at the end the following: 
‘‘(K) INCREASE IN VISA NUMBER AVAIL-
ABILITY.—In the event all visas made available 
under subparagraph (A) have been made avail-
able to qualified immigrants in a fiscal year, an 
additional 10,000 visas shall be made available 
to qualified immigrants as described in sub-
paragraph (A) for that fiscal year, unless a 
joint resolution as described below is enacted. 
‘‘(i) For purposes of this subpara-
graph, the term ‘joint resolution’ means 
only a joint resolution introduced in the 
period beginning on the date on which all 
visas made available under subparagraph 
(A) have been made available to qualified 
immigrants in a fiscal year and ending 60 
days thereafter (excluding days either 
House of Congress is adjourned for more 
than 3 days during a session of Congress), 
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the matter after the resolving clause of 
which is as follows: ‘That Congress finds 
that an increase in visa number availability 
for qualified immigrants under section 
203(b)(5) is not needed and that addi-
tional visas provided in subparagraph (K) 
of that section will not take effect.’. 
‘‘(ii) A joint resolution described in 
clause (i) shall be referred to the Com-
mittee on the Judiciary in each House of 
Congress. 
‘‘(iii) In the Senate, if the Committee 
on the Judiciary has not reported such 
joint resolution as described in clause (i) 
(or an identical joint resolution) at the end 
of 15 session days after the date of intro-
duction of the joint resolution, such com-
mittee may be discharged from further 
consideration of such joint resolution upon 
a petition supported in writing by 30 Mem-
bers of the Senate, and such joint resolu-
tion shall be placed on the calendar. 
‘‘(iv)(I) In the Senate, when the Com-
mittee on the Judiciary has reported, or 
when such committee is discharged (under 
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