SEC. 2. REAUTHORIZATION AND REFORM OF THE RE-
GIONAL CENTER PROGRAM. 
(a) REPEAL.—Section 610 of the Departments of 
Commerce, Justice, and State, the Judiciary, and Related 
Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) 
is repealed. 
(b) AUTHORIZATION.—Section 203(b)(5) of the Im-
migration and Nationality Act (8 U.S.C. 1153(b)(5)) is 
amended by adding at the end the following: 
‘‘(E) REGIONAL CENTER PROGRAM.— 
‘‘(i) IN GENERAL.—Visas under this 
paragraph shall be made available through 
September 30, 2026, to qualified immi-
grants (and the eligible spouses and chil-
dren of such immigrants) pooling their in-
vestments with 1 or more qualified immi-
grants participating in a program imple-
menting this paragraph that involves a re-
gional center in the United States, which 
has been designated by the Secretary of 
Homeland Security on the basis of a pro-
posal for the promotion of economic 
growth, including prospective job creation 
and increased domestic capital investment. 
‘‘(ii) PROCESSING.—In processing pe-
titions under section 204(a)(1)(H) for clas-
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sification under this paragraph, the Sec-
retary of Homeland Security— 
‘‘(I) may process petitions in a 
manner and order established by the 
Secretary; and 
‘‘(II) shall deem such petitions to 
include records previously filed with 
the Secretary pursuant to subpara-
graph (F) if the alien petitioner cer-
tifies that such records are incor-
porated by reference into the alien’s 
petition. 
‘‘(iii) ESTABLISHMENT
OF
A
RE-
GIONAL CENTER.—A regional center shall 
operate within a defined, contiguous, and 
limited geographic area, which shall be de-
scribed in the proposal and be consistent 
with the purpose of concentrating pooled 
investment within such area. The proposal 
to establish a regional center shall dem-
onstrate that the pooled investment will 
have a substantive economic impact on 
such geographic area, and shall include— 
‘‘(I) reasonable predictions, sup-
ported by economically and statis-
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tically valid and transparent fore-
casting tools, concerning the amount 
of investment that will be pooled, the 
kinds of commercial enterprises that 
will receive such investments, details 
of the jobs that will be created di-
rectly or indirectly as a result of such 
investments, and other positive eco-
nomic effects such investments will 
have; 
‘‘(II) a description of the policies 
and procedures in place reasonably 
designed to monitor new commercial 
enterprises and any associated job- 
creating entity to seek to ensure com-
pliance with— 
‘‘(aa) all applicable laws, 
regulations, and executive orders 
of the United States, including 
immigration laws, criminal laws, 
and securities laws; and 
‘‘(bb) all securities laws of 
each State in which securities of-
ferings will be conducted, invest-
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ment advice will be rendered, or 
the offerors or offerees reside; 
‘‘(III) attestations and informa-
tion confirming that all persons in-
volved with the regional center meet 
the requirements under clauses (i) 
and (ii) of subparagraph (H); 
‘‘(IV) a description of the policies 
and procedures in place that are rea-
sonably designed to ensure program 
compliance; and 
‘‘(V) the identities of all natural 
persons involved in the regional cen-
ter, as described in subparagraph 
(H)(v). 
‘‘(iv) INDIRECT JOB CREATION.— 
‘‘(I) IN
GENERAL.—The Sec-
retary of Homeland Security shall 
permit aliens seeking admission under 
this subparagraph to satisfy only up 
to 90 percent of the requirement 
under subparagraph (A)(ii) with jobs 
that are estimated to be created indi-
rectly through investment under this 
paragraph in accordance with this 
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subparagraph. An employee of the 
new commercial enterprise or job-cre-
ating entity may be considered to hold 
a job that has been directly created. 
‘‘(II) CONSTRUCTION
ACTIVITY 
LASTING LESS THAN 2 YEARS.—If the 
jobs estimated to be created are cre-
ated by construction activity lasting 
less than 2 years, the Secretary shall 
permit aliens seeking admission under 
this subparagraph to satisfy only up 
to 75 percent of the requirement 
under subparagraph (A)(ii) with jobs 
that are estimated to be created indi-
rectly through investment under this 
paragraph in accordance with this 
subparagraph. 
‘‘(v) COMPLIANCE.— 
‘‘(I) IN
GENERAL.—In deter-
mining compliance with subparagraph 
(A)(ii), the Secretary of Homeland Se-
curity shall permit aliens seeking ad-
mission under this subparagraph to 
rely on economically and statistically 
valid methodologies for determining 
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the number of jobs created by the pro-
gram, including— 
‘‘(aa) jobs estimated to have 
been created directly, which may 
be verified using such methodolo-
gies; and 
‘‘(bb) consistent with this 
subparagraph, jobs estimated to 
have been directly or indirectly 
created through capital expendi-
tures, revenues generated from 
increased exports, improved re-
gional productivity, job creation, 
and increased domestic capital 
investment resulting from the 
program. 
‘‘(II) JOB AND INVESTMENT RE-
QUIREMENTS.— 
‘‘(aa) RELOCATED
JOBS.— 
In determining compliance with 
the 
job 
creation 
requirement 
under subparagraph (A)(ii), the 
Secretary of Homeland Security 
may include jobs estimated to be 
created under a methodology that 
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