To amend the Immigration and Nationality Act to reserve EB-5 visas each fiscal year for investors in new commercial enterprises in areas with respect to which a major disaster has been declared by the President.

Bill: 116-hr-2173
Sponsor: full_name: Resident Commissioner González-Colón, Jenniffer [R-PR-At Large]
Introduced: 2019-04-09
Policy area: Immigration
Subjects: Business investment and capital

Disaster relief and insurance

Foreign labor

Immigration status and procedures

U.S. and foreign investments

Visas and passports
Latest action: action_date: 2019-05-15
text: Referred to the Subcommittee on Immigration and Citizenship.

Summaries:
action_date: 2019-04-09
action_desc: Introduced in House
text: <p>This bill reserves a certain number of EB-5 visas (immigrant investors) for immigrants who invest in a new commercial enterprise that will create employment in an area where the President has declared a major disaster. For a period of three fiscal years starting from the fiscal year in which a disaster has been declared, 100 such visas must be reserved for each fiscal year.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 2173 IN THE HOUSE OF REPRESENTATIVES April 9, 2019 Miss González-Colón of Puerto Rico (for herself and Mr. LaMalfa ) introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend the Immigration and Nationality Act to reserve EB–5 visas each fiscal year for investors in new commercial enterprises in areas with respect to which a major disaster has been declared by the President.

1. Reservation of EB–5 visas for investors in disaster areas Section 203(b)(5) of the Immigration and Nationality Act ( 8 U.S.C. 1153(b)(5) ) is amended— (1) by redesignating subparagraphs (C) and (D) as subparagraphs (D) and (E), respectively; and (2) by inserting after subparagraph (B) the following: (C) Set-aside for major disaster areas (i) In general Of the visas made available under this paragraph for each fiscal year, the number required under clause (ii) shall be reserved for qualified immigrants who invest in a new commercial enterprise described in subparagraph (A) which will create employment in an area with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ). (ii) Number of reserved visas (I) In general In the case of each area with respect to which one or multiple major disasters have been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ) in a single fiscal year, the Secretary of State and the Secretary of Homeland Security shall coordinate so as to ensure that 100 visas are reserved under this subparagraph for the area for— (aa) the fiscal year in which the declaration or declarations occur and the two succeeding fiscal years; or (bb) the 3 fiscal years following the fiscal year in which the declaration or declarations occur. (II) Timing The decision whether to implement subclause (I) according to item (aa) or (bb) shall be made jointly by the Secretary of State and the Secretary of Homeland Security based upon the number of visas already made available under this paragraph on the date on which the declaration (or the first of multiple declarations) occurs and other factors deemed appropriate by such secretaries. .