Title: A bill to terminate the EB-5 Visa Program and to reallocate the employment creation visas to the other employment-based visa classifications.
Policy area: Immigration

Summary:
This bill amends the Immigration and Nationality Act to eliminate the EB-5 visa category.
The number of fiscal year immigrant visas available for the following employment categories is increased: (1) priority workers; (2) members of the professions with advanced degrees or persons of exceptional ability; (3) skilled workers, professionals, and certain unskilled workers; and (4) certain special immigrants.
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.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 232 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                 S. 232

  To terminate the EB-5 Visa Program and to reallocate the employment 
   creation visas to the other employment-based visa classifications.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 24, 2017

Mrs. Feinstein (for herself and Mr. Grassley) introduced the following 
    bill; which was read twice and referred to the Committee on the 
                               Judiciary

_______________________________________________________________________

                                 A BILL


 
  To terminate the EB-5 Visa Program and to reallocate the employment 
   creation visas to the other employment-based visa classifications.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TERMINATION OF EMPLOYMENT CREATION VISA CLASSIFICATION.

    (a) In General.--Section 203(b)(5) of the Immigration and 
Nationality Act (8 U.S.C. 1153(b)(5)) is repealed.
    (b) Reallocation to Other Employment-Based Visa Classifications.--
Section 203(b) of such Act (8 U.S.C. 1153(b)) is amended--
            (1) in paragraph (1), by striking ``28.6 percent'' and 
        inserting ``30.4 percent'';
            (2) in paragraph (2), by striking ``28.6 percent'' and 
        inserting ``30.4 percent'';
            (3) in paragraph (3), by striking ``28.6 percent'' and 
        inserting ``30.4 percent''; and
            (4) in paragraph (4), by striking ``7.1 percent'' and 
        inserting ``8.8 percent''.

SEC. 2. CONFORMING AMENDMENTS.

    (a) Immigration and Nationality Act.--Title II of the Immigration 
and Nationality Act (8 U.S.C. 1151 et seq.) is amended--
            (1) in section 202--
                    (A) in subsection (a)(5)(A), by striking ``(4), or 
                (5)'' and insert ``or (4)''; and
                    (B) in subsection (e)(3), by striking ``through 
                (5)'' and inserting ``through (4)'';
            (2) in section 203(b)(1), in the matter preceding 
        subparagraph (A), by striking ``paragraphs (4) and (5)'' and 
        inserting ``paragraph (4)'';
            (3) in section 204(a)(1)--
                    (A) by striking subparagraph (H);
                    (B) by redesignating subparagraphs (I), (J), (K), 
                and (L) as subparagraphs (H), (I), (J), and (K), 
                respectively;
                    (C) in subparagraph (H), as redesignated, by moving 
                clause (iv) 6 ems to the left; and
                    (D) by moving subparagraph (K), as redesignated, 4 
                ems to the left; and
            (4) by striking section 216A (8 U.S.C. 1186b).
    (b) Repeal of Pilot Immigration Program.--Section 610 of the 
Departments of Commerce, Justice, and State, the Judiciary, and Related 
Agencies Appropriations Act, 1993 (Public Law 102-395) is repealed.
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