The House omnibus bill includes provisions to resurrect the controversial EB-5 investor visa program
The program typically required an investment of $1 million, but that could be as low as $500,000 in areas classified as high poverty, and the creation of 10 jobs. In return an investor would be given green cards for not just them, but also their families. That in turn puts them on a track to citizenship.
and has since been dormant. But in a rare bipartisan instance of successful immigration reform, the visa program will be resurrected with a slew of significant reforms from the Grassley-Leahy legislation -- after real-estate groups agreed to the reforms after watching the program lie dormant for a year.
Provisions also include increased DHS powers to vet foreign capital to make sure it is lawfully sourced, and require foreign agents and third-party promoters of the program to register with DHS. The language now included in the omnibus also establishes an EB-5 "integrity fund," in which centers and investors would pay fees to be used by DHS to conduct additional scrutiny. The omnibus also includes a number of regulations that were struck down under the Trump administration by a federal judge.
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