,i #aadth ,,congress #b;d ,session ,h4 ,r4 #eiib ,,in ,,the ,,house ,,of ,,representatives ,september #ab1 #bjaf,mr4 ,goodlatte 7for himself and ,mr4 ,conyers7 introduced the following bill2 which was referred to the ,committee on the ,judiciary ,a ,,bill ,to amend section #bjc7;b77#e7 of the ,immigration and ,nationality ,act to implement new reforms1 and to reauthorize the ,,eb-#e ,regional ,center ,program1 in order to promote and reform foreign capital investment and job creation in communities in the ,united ,states1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,american ,job ,creation and ,investment ,promotion ,reform ,act of #bjaf4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4 ,sec4 #b4 ,new ,,eb-#e general provisions4 ,sec4 #c4 ,reauthorization and reform of the ,regional ,center ,program4 ,sec4 #d4 ,other ,,eb-#e visa reforms4 ,sec4 #e4 ,conditional permanent resident status for alien investors1 spouses1 and children4 ,sec4 #f4 ,procedure for granting immigrant status4 ,sec4 #g4 ,timely processing4 ,sec4 #h4 ,transparency4 ,sec4 #i4 ,reports4 #b4 ,new ,,eb-#e general provisions 7a7 ,in general ,section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 is amended by inserting after subparagraph 7,c7 the following3 7,d7 ,source of funds 7i7 ,in general ,an alien investor shall demonstrate that the capital required under subparagraph 7,a7 and any funds used to pay administrative costs and fees associated with the alien's investment were obtained from a lawful source and through lawful means4 7ii7 ,required information ,the ,secretary of ,homeland ,security shall require1 as applicable1 that an alien investor's petition under this paragraph contain-- 7,i7 business and tax records1 or similar records1 including1 but not limited to-- 7aa7 foreign business registration records2 7bb7 to the extent such tax returns have been prepared1 corporate or partnership tax returns 7or tax returns of any other entity in any form filed in any country or subdivision of such country71 and personal tax returns including income1 franchise1 property 7whether real1 personal1 or intangible71 or any other tax returns of any kind1 filed within #g years1 with any taxing jurisdiction in or outside the ,united ,states by or on behalf of the alien investor2 and 7cc7 evidence identifying any other source of capital or administrative fees2 7,,ii7 evidence related to monetary judgments against the alien investor1 including certified copies of any judgments1 and evidence of all pending governmental civil or criminal actions1 governmental administrative proceedings1 and any private civil actions 7pending or otherwise7 involving possible monetary judgments against the alien investor from any court in or outside the ,united ,states2 and 7,,iii7 the identity of all persons who transfer into the ,united ,states1 on behalf of the alien investor-- 7aa7 any funds that are used to meet the capital requirement under subparagraph 7,a72 and 7bb7 any funds that are used to pay administrative costs and fees associated with the alien's investment4 7iii7 ,gift restrictions ,gifted funds may be counted toward the minimum capital investment requirement under subparagraph 7,b7 only if such funds were gifted to the alien investor by the alien investor's spouse1 parent1 son1 or daughter 7but not children 7as defined in section #aja7;b77#a7771 sibling1 or grandparent and such funds were gifted in good faith and not to circumvent any limitations imposed on permissible sources of capital under this subparagraph4 ,if a significant portion of the capital invested under subparagraph 7,a7 was gifted to the alien investor1 the ,secretary shall require the alien investor's petition under this paragraph to include records described in subclauses 7,i7 and 7,,ii7 of clause 7ii7 from the donor4 7iv7 ,loan restrictions ,capital derived from indebtedness may be counted toward the minimum capital investment requirement under subparagraph 7,b7 only if such capital is-- 7,i7 secured by assets owned by the alien investor2 and 7,,ii7 issued by a banking or lending institution that is properly chartered or licensed under the laws of any ,state1 territory1 country1 or applicable jurisdiction1 and that is not sanctioned or restricted1 which the ,secretary shall determine after consulting with relevant commercial or government databases1 such as those of the ,department of the ,treasury's ,office of ,foreign ,assets ,control1 ,office of ,terrorist ,financing and ,financial ,crimes1 and ,financial ,crimes ,enforcement ,network4 7,e7 ,threats to the national interest 7i7 ,denial or revocation ,the ,secretary of ,homeland ,security shall deny or revoke the approval of a petition1 application1 or benefit described in this paragraph1 including the documents described in clause 7ii71 if the ,secretary determines that the approval of such petition1 application1 or benefit is contrary to the national interest of the ,united ,states for reasons relating to threats to public safety or national security4 7ii7 ,documents ,the documents described in this clause are-- 7,i7 a certification1 designation1 or amendment to the designation1 of a regional center2 7,,ii7 a petition seeking classification of an alien as an alien investor under this paragraph2 7,,iii7 a petition to remove conditions under section #baf;,a2 or 7,,iv7 an application for approval of a business plan in a new commercial enterprise under subparagraph 7,i74 7iii7 ,debarment ,if a regional center1 new commercial enterprise1 or job-creating entity has its designation or participation in the program under this paragraph terminated for reasons relating to public safety or national security1 any person associated with such regional center1 new commercial enterprise1 or job-creating entity1 including an alien investor1 shall be permanently barred from future participation in the program under this paragraph if the ,secretary of ,homeland ,security1 in the ,secretary's discretion1 determines1 by a preponderance of the evidence1 that such person was a knowing participant in the conduct that led to the termination4 7iv7 ,notice ,if the ,secretary of ,homeland ,security determines that the approval of a petition1 application1 or benefit described in this paragraph should be denied or revoked pursuant to clause 7i71 the ,secretary shall-- 7,i7 notify the relevant individual1 regional center1 or commercial entity of such determination2 and 7,,ii7 deny or revoke such petition1 application1 or benefit or terminate the permanent resident status of the alien 7and the alien spouse and alien children of such immigrant71 as provided in clause 7i7 as of the date of such determination4 7v7 ,judicial review ,notwithstanding any other provision of law 7statutory or nonstatutory71 including section #bbda of title #bh1 ,united ,states ,code1 or any other habeas corpus provision1 and sections #acfa and #afea of such title1 no court shall have jurisdiction to review a denial or revocation under this subparagraph4 ,nothing in this clause may be construed as precluding review of constitutional claims or questions of law raised upon a petition for review filed with an appropriate court of appeals in accordance with section #bdb4 7,f7 ,fraud1 misrepresentation1 and criminal misuse 7i7 ,denial or revocation ,the ,secretary of ,homeland ,security shall deny or revoke the approval of a petition1 application1 or benefit described in this paragraph1 including the documents described in subparagraph 7,e77ii71 if the ,secretary determines that such petition1 application1 or benefit was predicated on or involved fraud1 deceit1 intentional material misrepresentation1 or criminal misuse4 7ii7 ,debarment ,if a regional center1 new commercial enterprise1 or job-creating entity has its designation or participation in the program under subparagraph 7,h7 terminated for reasons relating to fraud1 intentional material misrepresentation1 or criminal misuse1 any person associated with such regional center1 new commercial enterprise1 or job-creating entity1 including an alien investor1 shall be permanently barred from future participation in the program under subparagraph 7,h7 if the ,secretary of ,homeland ,security determines1 by a preponderance of the evidence1 that such person was a knowing participant in the conduct that led to the termination4 7iii7 ,notice ,if the ,secretary of ,homeland ,security determines that the approval of a petition1 application1 or benefit described in this paragraph should be denied or revoked pursuant to clause 7i71 the ,secretary shall-- 7,i7 notify the relevant individual1 regional center1 or commercial entity of such determination2 and 7,,ii7 deny or revoke such petition1 application1 or benefit or terminate the permanent resident status of the alien 7and the alien spouse and alien children of such immigrant7 as provided in clause 7i7 as of the date of such determination4 7,g7 ,administrative appellate review 7i7 ,in general ,the ,director of ,u4,s4 ,citizenship and ,immigration ,services shall provide an opportunity for an administrative appellate review by the ,administrative ,appeals ,office of ,u4,s4 ,citizenship and ,immigration ,services of any determination made under this paragraph1 including-- 7,i7 an application for regional center designation or regional center amendment2 7,,ii7 an application for approval of a business plan under subparagraph 7,i72 7,,iii7 a petition by an alien investor for status as an immigrant under this paragraph2 7,,iv7 the termination or suspension of any benefit accorded under this paragraph2 and 7,v7 any sanction imposed by the ,secretary of ,homeland ,security pursuant to this paragraph4 7ii7 ,judicial review ,subject to section #bdb7;a77#b71 and notwithstanding any other provision of law 7statutory or nonstatutory71 including section #bbda of title #bh1 ,united ,states ,code1 or any other habeas corpus provision1 and sections #acfa and #afea of such title1 no court shall have jurisdiction to review a determination under this paragraph until the regional center1 its associated entities1 or the alien investor has exhausted all administrative appeals4 4 7b7 ,effective dates 7#a7 ,in general ,except as provided in paragraph 7#b71 the amendment made by subsection 7a7 shall be effective at any time after the date of the enactment of this ,act1 as determined by the ,secretary1 and shall be effective not later than #ij days after such date of enactment4 7#b7 ,exceptions ,subparagraph 7,d7 of section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 as inserted by subsection 7a71 shall not apply to a petition that-- 7,a7 was filed by an alien investor under such section #bjc7;b77#e7 prior to ,june #a1 #bjae2 7,b7 was filed by an alien investor under such section #bjc7;b77#e7 during the period beginning on ,june #a1 #bjae1 and ending on the date of the enactment of this ,act if such beneficiary is investing in the same commercial enterprise concerning the same economic activity as contained in an exemplar filed prior to ,june #a1 #bjae1 or approved by the ,secretary of ,homeland ,security at any time prior to the date of enactment of this ,act1 unless the ,secretary determines that such approval or filing was based on fraud1 misrepresentation in the record of proceeding1 or is legally deficient2 or 7,c7 is filed under section #baf;,a of such ,act 7#h ,u4,s4,c4 #aahf;b7 if the underlying petition filed under section #bjc7;b77#e7 of such ,act was filed prior to ,june #a1 #bjae1 or approved before the date of the enactment of this ,act4 #c4 ,reauthorization and reform of the regional center program 7a7 ,repeal ,section #faj of the ,departments of ,commerce1 ,justice1 and ,state1 the ,judiciary1 and ,related ,agencies ,appropriations ,act1 #aiic 7#h ,u4,s4,c4 #aaec note7 is repealed4 7b7 ,authorization ,section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 as amended by section #b1 is further amended by inserting after subparagraph 7,g7 the following3 7,h7 ,regional center program 7i7 ,in general ,visas under this paragraph shall be made available through ,september #cj1 #bjba1 to qualified immigrants 7and the eligible spouses and children of such immigrants7 pooling their investments with one or more additional qualified immigrants participating in a program implementing this paragraph that promotes economic growth1 including prospective job creation and increased domestic capital investment1 through regional centers operating within defined geographic areas and designated by the ,secretary of ,homeland ,security based upon proposals for concentrating pooled investment within such areas4 7ii7 ,processing ,in processing petitions under section #bjd7;a77#a77;,h7 for classification pursuant to this subparagraph1 the ,secretary of ,homeland ,security-- 7,i7 may process petitions in a manner and order established by the ,secretary2 and 7,,ii7 shall deem such petitions to include records previously filed with the ,secretary pursuant to subparagraph 7,i7 if the alien petitioner certifies that such records are incorporated by reference into the alien's petition4 7iii7 ,establishment of a regional center ,the manager of a prospective regional center shall file a proposal1 as provided in clause 7i71 with the ,secretary of ,homeland ,security requesting that the ,secretary designate the regional center for purposes of this subparagraph4 ,a regional center shall operate within a defined and limited geographic area1 which shall be described in the proposal and shall be consistent with the purpose of concentrating pooled investment within such area4 ,the proposal shall demonstrate that the pooled investment will have a significant economic impact on such area1 and shall include-- 7,i7 reasonable predictions1 supported by economically and statistically valid forecasting tools1 concerning-- 7aa7 the amount of investment that will be pooled2 7bb7 the kinds of new commercial enterprises that will receive such investments2 7cc7 details of the jobs that will be created directly or indirectly as a result of such investments2 and 7dd7 other positive economic effects such investments will have2 and 7,,ii7 a description of the policies and procedures in place reasonably designed to monitor new commercial enterprises and any affiliated job-creating entity to ensure compliance with-- 7aa7 all applicable laws1 regulations1 and ,executive orders of the ,united ,states1 including immigration laws and securities laws2 and 7bb7 all securities laws of each ,state in which securities offerings will be conducted1 investment advice will be rendered1 or the offerors or offerees reside4 7iv7 ,indirect job creation ,the ,secretary of ,homeland ,security shall permit aliens seeking admission under this subparagraph to satisfy only up to #ij percent of the requirement under subparagraph 7,a77ii7 with jobs that are estimated to be created indirectly through investment in accordance with this subparagraph4 ,an employee of the new commercial enterprise or job-creating entity may be considered to hold a job that has been directly created4 7v7 ,compliance 7,i7 ,in general ,in determining compliance with subparagraph 7,a77ii71 the ,secretary of ,homeland ,security shall permit aliens seeking admission under this subparagraph to rely on economically and statistically valid methodologies for determining the number of jobs created by the program1 including-- 7aa7 jobs estimated to have been created directly1 which may be verified using such methodologies1 except that the ,secretary may request additional evidence to verify that the directly created jobs satisfy the requirements under subparagraph 7,a77ii72 and 7bb7 consistent with this subparagraph1 jobs estimated to have been created indirectly through revenues generated from increased exports1 improved regional productivity1 job creation1 and increased domestic capital investment resulting from the program4 7,,ii7 ,job and investment requirements 7aa7 ,relocated jobs ,in determining compliance with the job creation requirement under subparagraph 7,a77ii71 the ,secretary may include jobs estimated to be created under a methodology whereby jobs are attributable to prospective tenants occupying commercial real estate created or improved by capital investments1 but only if the number of such jobs estimated to be created has been determined by an economically and statistically valid methodology and such jobs are not existing jobs that have been relocated4 7bb7 ,publicly available bonds ,alien investor capital may not be utilized1 by a new commercial enterprise or otherwise1 to purchase municipal bonds or any other bonds1 if such bonds are available to the general public1 either as part of a primary offering or from a secondary market4 7cc7 ,construction activity jobs ,the length of full-time construction activity jobs that last shorter than #bd months may be aggregated to satisfy the employment creation requirement under subparagraph 7,a77ii7 for alien investors participating in the program described in this subparagraph4 ,a construction activity job may be considered a job that is created directly4 7vi7 ,amendments ,the ,secretary of ,homeland ,security shall-- 7,i7 require a regional center to give advance notice to1 and obtain approval from1 the ,secretary of significant proposed changes to its organizational structure1 ownership1 or administration1 including the sale of such center or other arrangements in which individuals not previously subject to the requirements under subparagraph 7,k7 become involved with the regional center1 before any such proposed changes may take effect unless exigent circumstances are present in which case the regional center shall provide notice to the ,secretary within #e business days of such change2 7,,ii7 approve the changes referred to in subclause 7,i7 only after-- 7aa7 notice of any such proposed changes are made publicly available through a publicly accessible ,web site of ,u4,s4 ,citizenship and ,immigration ,services for a period of not fewer than #cj days2 and 7bb7 the ,secretary determines that the regional center would remain compliant with this subparagraph and with subparagraph 7,k72 and 7,,iii7 notwithstanding the pendency of a request for approval of any amendment that has been filed pursuant to subclause 7,i71 adjudicate business plans under subparagraph 7,i7 and petitions under section #bjd7;a77#a77;,h74 7,i7 ,business plans for regional center investments 7i7 ,application for approval of an investment in a new commercial enterprise ,a regional center shall file an application with the ,secretary of ,homeland ,security for each particular investment offering in or through an associated new commercial enterprise before any alien files a petition for classification under this paragraph by reason of investment in that offering1 which shall include-- 7,i7 a comprehensive business plan for a specific capital investment project2 7,,ii7 a credible economic analysis regarding estimated job creation that is based upon economically and statistically valid methodologies2 7,,iii7 any documents filed with the ,securities and ,exchange ,commission under the ,securities ,act of #aicc 7#ae ,u4,s4,c4 #gg;a et seq47 or with the securities regulator of any ,state1 as required by law2 7,,iv7 any investment and offering documents1 including subscription1 investment1 partnership1 and operating agreements1 private placement memoranda1 term sheets1 biographies for management1 officers1 directors1 and any individual with similar responsibilities1 the description of the business plan to be provided to potential alien investors1 and marketing materials used or drafts prepared for use in connection with the offering1 which shall contain references1 as appropriate1 to any-- 7aa7 investment risks associated with the new commercial enterprise and the job-creating entity2 7bb7 conflicts of interest that currently exist or may arise among the regional center1 new commercial enterprise1 job-creating entity1 or the principals or attorneys of the aforementioned entities2 7cc7 pending material litigation or bankruptcy1 or adverse judgments or bankruptcy orders issued during the most recent #aj-year period1 in the ,united ,states or abroad1 affecting the regional center1 the new commercial enterprise1 any affiliated job-creating entity1 or any other enterprise in which any principal of the aforementioned entities held majority ownership at the time2 and 7dd7 7,,aa7 fees1 ongoing interest1 or other compensation that has been paid1 or will be paid1 to any person in connection with the investment1 including agents1 finders1 or broker dealers involved in the offering1 and of which the regional center or new commercial enterprise has knowledge2 7,,bb7 a description of the services performed1 or which will be performed1 by such person to entitle the person to such fees1 interest1 or compensation2 and 7,,cc7 the name and contact information of any such person2 7,v7 a description of the policies and procedures1 such as those related to internal and external due diligence1 reasonably designed to cause the regional center1 new commercial enterprise1 and any affiliated job-creating entity1 their agents1 employees1 advisors1 and attorneys1 and any persons in active concert or participation with the regional center1 new commercial enterprise1 or any affiliated job-creating entity to comply1 as applicable1 with the securities laws of the ,united ,states and the laws of the applicable ,states in connection with the offer1 purchase1 or sale of their securities2 7,,vi7 a certification from the regional center and any issuer of securities that is affiliated with the regional center that their respective agents1 employees1 advisors1 and attorneys1 and any parties associated with the regional center or the issuer of securities that is affiliated with the regional center1 are in compliance with the securities laws of the ,united ,states and the laws of the applicable ,states in connection with the offer1 purchase1 or sale of its securities1 to the best of the certifier's knowledge1 after a due diligence investigation2 and 7,,vii7 documentation demonstrating that the regional center consulted with a local economic development agency or municipality regarding the capital investment project1 which shall address-- 7aa7 the number and type of jobs anticipated to be created2 and 7bb7 whether the project is consistent with the agency or municipality's plan for economic development in the region4 7ii7 ,effect of approval of a business plan for an investment in a regional center's new commercial enterprise ,the approval of an application under this subparagraph shall be binding for purposes of the adjudication of subsequent petitions seeking classification under this paragraph by immigrants investing in the same capital investment project through a new commercial enterprise1 and of petitions by the same immigrants filed under section #baf;,a1 except in the case of fraud1 misrepresentation1 criminal misuse1 a threat to public safety or national security1 a material change that affects the program eligibility of the approved economic model1 other evidence affecting program eligibility that was not disclosed by the applicant during the adjudication process1 or a material mistake of law or fact in the prior adjudication4 7iii7 ,site visits ,the ,secretary shall-- 7,i7 perform site visits to regional centers2 and 7,,ii7 perform at least #a site visit to each new commercial enterprise and job-creating entity1 which-- 7aa7 shall include a review for evidence of direct job creation in accordance with subparagraph 7,h77v77,i72 and 7bb7 may occur at any time during the period between the filing of an application for approval of an investment in a new commercial enterprise under this subparagraph and the adjudication of the first petition for removal of conditions on lawful permanent resident status under section #baf;,a7c7 filed by an alien investing in such investment4 7,j7 ,regional center annual statements 7i7 ,in general ,each regional center designated under subparagraph 7,h7 shall annually submit a statement to the ,director of ,united ,states ,citizenship and ,immigration ,services 7referred to in this subparagraph as the ,director71 in a manner prescribed by the ,secretary of ,homeland ,security1 which shall include-- 7,i7 a certification stating that1 to the best of the certifier's knowledge1 after a due diligence investigation1 the regional center1 the new commercial enterprise1 and any affiliated job-creating entity1 are in compliance with clauses 7i7 and 7ii7 of subparagraph 7,k72 7,,ii7 a certification described in subparagraph 7,l77ii77,,ii72 7,,iii7 a certification stating that1 to the best of the certifier's knowledge1 after a due diligence investigation1 the regional center is in compliance with subparagraph 7,n77iii72 7,,iv7 a description of any pending material litigation or bankruptcy proceedings1 or litigation or bankruptcy proceedings resolved during the preceding fiscal year1 involving the regional center1 new commercial enterprise1 or any affiliated job-creating entity2 7,v7 an accounting of all alien investor capital invested pursuant to subparagraph 7,h7 in the regional center1 new commercial enterprise1 or job-creating entity2 7,,vi7 for each new commercial enterprise associated with the regional center-- 7aa7 an accounting of the aggregate capital invested in the new commercial enterprise and job-creating entity by alien investors under this paragraph for each capital investment project being undertaken by the new commercial enterprise2 7bb7 a description of how such capital is being used to execute each capital investment project in the filed business plan or plans2 7cc7 evidence that #ajj percent of such capital has actually been committed to each capital investment project2 7dd7 detailed evidence of the progress made toward the completion of each capital investment project2 7ee7 an accounting of the aggregate direct jobs created or preserved2 7ff7 to the best of the regional center's knowledge1 for all fees1 including administrative fees1 loan monitoring fees1 loan management fees1 commissions and similar transaction-based compensation1 collected from alien investors by the regional center1 new commercial enterprise1 any affiliated job-creating entity1 or issuer of securities associated with the regional center1 or any promoter1 finder1 broker-dealer1 or other entity engaged by any of the foregoing to locate alien investors investing pursuant to subparagraph 7,h7-- 7,,aa7 a description of all fees collected2 7,,bb7 an accounting of the entities that received such fees2 and 7,,cc7 the purpose for which such fees were collected2 7gg7 any documentation referred to in subparagraph 7,i77i77,,iv71 if there has been a material change during the preceding fiscal year2 and 7hh7 a certification by the regional center that such statements are accurate1 to the best of the certifier's knowledge1 after a due diligence investigation2 and 7,,vii7 a description of the regional center's policies and procedures that are designed to enable the regional center to comply with applicable ,federal labor laws4 7ii7 ,amendment of annual statements ,the ,director-- 7,i7 shall require the regional center to amend or supplement an annual statement required under clause 7i7 if the ,director determines that such statement is deficient2 and 7,,ii7 may require the regional center to amend or supplement such annual statement if the ,director determines that such an amendment or supplement is appropriate4 7iii7 ,sanctions 7,i7 ,effect of violation ,the ,director shall sanction any regional center entity in accordance with subclause 7,,ii7 if the regional center fails to submit an annual statement or if the ,director determines that the regional center-- 7aa7 knowingly submitted or caused to be submitted a statement1 certification1 or any information submitted pursuant to this subparagraph that contained an untrue statement of material fact2 or 7bb7 is conducting itself in a manner inconsistent with its designation1 including any willful1 undisclosed1 and material deviation by new commercial enterprises from any filed business plan for such commercial enterprises4 7,,ii7 ,authorized sanctions ,the ,director shall establish a graduated set of sanctions based on the severity of the violations referred to in subclause 7,i71 including-- 7aa7 fines equal to not more than #aj percent of the total capital invested by alien investors in the regional center's new commercial enterprises or job-creating entities1 the payment of which shall not in any circumstance utilize any of such alien investors' capital investments1 and which shall be deposited into the ,,eb-#e ,integrity ,fund established under subparagraph 7,m72 7bb7 temporary suspension from participation in the program described in subparagraph 7,h71 which may be lifted by the ,director if the individual or entity cures the alleged violation after being provided such an opportunity by the ,director2 7cc7 permanent bar from program participation for one or more individuals associated with the regional center or new commercial enterprise or job-creating entity2 and 7dd7 termination of regional center designation4 7,k7 ,bona fides of persons involved with regional center program 7i7 ,in general ,no person shall be permitted to be involved with any regional center1 new commercial enterprise1 or job-creating entity if-- 7,i7 the person has been found to have committed-- 7aa7 a criminal or civil violation involving fraud or deceit within the previous #aj years2 7bb7 a civil violation resulting in a liability in excess of #a1jjj1jjj involving fraud or deceit2 or 7cc7 a crime resulting in a conviction with a term of imprisonment of more than #a year2 7,,ii7 the person is subject to a final order1 for the duration of any penalty imposed by such order1 of a ,state securities commission 7or an agency or officer of a ,state who performs similar functions71 a ,state authority that supervises or examines banks1 savings associations1 or credit unions1 a ,state insurance commission 7or an agency of or officer of a ,state who performs similar functions71 an appropriate ,federal banking agency1 the ,commodity ,futures ,trading ,commission1 the ,securities and ,exchange ,commission1 a financial self-regulatory organization recognized by the ,securities and ,exchange ,commission1 or the ,national ,credit ,union ,administration1 which is based on a violation of any law or regulation that-- 7aa7 prohibits fraudulent1 manipulative1 or deceptive conduct2 or 7bb7 bars the person from-- 7,,aa7 association with an entity regulated by such commission1 authority1 agency1 or officer2 7,,bb7 appearing before such commission1 authority1 agency1 or officer2 7,,cc7 engaging in the business of securities1 insurance1 or banking2 or 7,,dd7 engaging in savings association or credit union activities2 7,,iii7 the person is engaged in1 has ever been engaged in1 or seeks to engage in-- 7aa7 any illicit trafficking in any controlled substance or in any listed chemical 7as defined in section #ajb of the ,controlled ,substances ,act72 7bb7 any activity relating to espionage1 sabotage1 or theft of intellectual property2 7cc7 any activity related to money laundering 7as described in section #aief or #aieg of title #ah1 ,united ,states ,code72 7dd7 any terrorist activity 7as defined in section #bab7;a77#c77;,b772 7ee7 any activity constituting or facilitating human trafficking or a human rights offense2 7ff7 any activity described in section #bab7;a77#c77;,e72 or 7gg7 the violation of any statute1 regulation1 or ,executive order regarding foreign financial transactions or foreign asset control2 or 7,,iv7 the person-- 7aa7 is1 or during the preceding #aj years has been1 included on the ,department of ,justice's ,list of ,currently ,disciplined ,practitioners2 or 7bb7 during the preceding #aj years has received a reprimand or otherwise been publicly disciplined for conduct related to fraud or deceit by a ,state bar association of which the person is or was a member4 7ii7 ,foreign involvement in regional center program 7,i7 ,lawful status required ,no person may be 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 7as defined in paragraphs 7#bj7 and 7#bb7 of section #aja7;a774 7,,ii7 ,foreign governments ,no foreign government entity may provide capital to1 or be directly or indirectly involved with the ownership or administration of1 a regional center1 a new commercial enterprise1 or a job-creating entity4 7iii7 ,information required ,the ,secretary shall require such attestations and information1 including the submission of fingerprints or other biometrics to the ,federal ,bureau of ,investigation1 and shall perform such criminal record checks and other background and database checks with respect to a regional center1 new commercial enterprise1 and any affiliated job-creating entity1 and persons involved with such entities 7as described in clause 7v771 in order to determine whether such entities are in compliance with clauses 7i7 and 7ii74 ,the ,secretary may require the information and attestations described in this clause from such entities1 and any person involved with such entities1 at any time on or after the date of the enactment of the ,american ,job ,creation and ,investment ,promotion ,reform ,act of #bjaf and may perform such checks with respect to any job creating entity1 and persons involved with such entity4 7iv7 ,termination 7,i7 ,in general ,the ,secretary shall suspend or terminate the designation of any regional center1 or the participation under the program of any new commercial enterprise or job-creating entity under this paragraph if the ,secretary determines that such entity-- 7aa7 knowingly involved a person with such entity in violation of clause 7i7 or 7ii72 7bb7 failed to provide an attestation or information requested by the ,secretary2 or 7cc7 knowingly provided any false attestation or information under clause 7iii74 7,,ii7 ,information ,the ,secretary1 after the performance of the criminal record and other background checks described in clause 7iii71 shall notify a regional center1 new commercial enterprise1 or job-creating entity whether any person involved with such entities is not in compliance with clause 7i7 or 7ii74 ,if1 #cj days after receiving such notification1 the regional center1 new commercial enterprise1 or job-creating entity1 as the case may be1 fails to discontinue the prohibited person's involvement with the regional center1 new commercial enterprise1 or job-creating entity1 as applicable1 the regional center1 new commercial enterprise1 or job-creating entity shall be deemed to have knowledge under subclause 7,i77aa7 that such person is in violation of clause 7i7 or 7ii74 7v7 ,persons involved with a regional center1 new commercial enterprise1 or job-creating entity ,for the purposes of this subparagraph1 a person is considered to be involved with a regional center1 a new commercial enterprise1 any affiliated job-creating entity1 or other job-creating entity1 as applicable1 if he or she is1 directly or indirectly1 an owner or in a position of substantive authority to make operational or managerial decisions over pooling1 securitization1 investment1 release1 acceptance1 or control of any funding that was procured pursuant to subparagraph 7,h74 ,an individual may be in a position of substantive authority if he or she serves as a principal1 representative1 administrator1 owner1 officer1 board member1 manager1 executive1 general partner1 fiduciary1 or in a similar position at the regional center1 new commercial enterprise1 any affiliated job-creating entity1 or other job-creating entity1 respectively4 7,l7 ,compliance with securities laws 7i7 ,jurisdiction 7,i7 ,in general ,the ,united ,states has jurisdiction over the purchase or sale of any security offered or sold by any regional center or any party associated with a regional center for purposes of the securities laws4 ,subject matter jurisdiction shall also lie within the ,united ,states4 7,,ii7 ,compliance with regulations ,solely for purposes of section #e of the ,securities ,act of #aicc 7#ae ,u4,s4,c4 #gg;e71 a regional center or any party associated with a regional center is not precluded from offering or selling a security pursuant to ,regulation ,s under the ,securities ,act of #aicc 7#ae ,u4,s4,c4 #gg;a et seq47 to the extent that such offering or selling otherwise complies with that regulation4 7ii7 ,regional center certifications required 7,i7 ,initial certification ,the ,secretary of ,homeland ,security may not approve an application for regional center designation or regional center amendment unless the regional center certifies that1 to the best of the certifier's knowledge1 after a due diligence investigation1 the regional center is in compliance with and has policies and procedures1 such as those related to internal and external due diligence1 reasonably designed to confirm1 as applicable1 that all parties associated with the regional center are and will remain in compliance with the securities laws of the ,united ,states and of any ,state in which the offer1 purchase1 or sale of securities was conducted1 or the issuer of securities was located1 or the investment advice was provided by the regional center or parties associated with the regional center4 7,,ii7 ,reissue ,a regional center shall annually reissue a certification described in subclause 7,i7 in accordance with subparagraph 7,j74 ,annual certifications under this subclause shall also certify compliance with clause 7iii7 by stating that-- 7aa7 the certifier is in a position to have knowledge of the offers1 purchases1 and sales of securities or the provision of investment advice by parties associated with the regional center2 7bb7 to the best of the certifier's knowledge1 after a due diligence investigation1 all such offers1 purchases1 and sales of securities or the provision of investment advice complied with the securities laws of the ,united ,states and the securities laws of any ,state in which the offer1 purchase1 or sale of securities was conducted1 or the issuer of securities was located1 or the investment advice was provided2 and 7cc7 records1 data1 and information related to such offers1 purchases1 and sales have been maintained4 7,,iii7 ,effect of noncompliance ,if a regional center1 through its due diligence1 discovered during a previous fiscal year that the regional center or any party associated with the regional center was not in compliance with the securities laws of the ,united ,states or the securities laws of any ,state in which the securities activities were conducted by any party associated with the regional center1 the certifier shall-- 7aa7 describe the activities that led to noncompliance2 7bb7 describe the actions taken to remedy the noncompliance2 and 7cc7 certify that the regional center and all parties associated with the regional center are currently in compliance1 to the best of the certifier's knowledge1 after a due diligence investigation4 7iii7 ,oversight required ,each regional center shall monitor and supervise all offers1 purchases1 and sales of1 and investment advice relating to securities made by parties associated with the regional center to confirm compliance with the securities laws of the ,united ,states1 and maintain records1 data1 and information relating to all such offers1 purchases1 sales1 and investment advice during the #e-year period beginning on the date of their creation4 ,such records1 data1 and information shall be made available to the ,secretary upon request4 7iv7 ,suspension or termination ,in addition to any other authority provided to the ,secretary under this paragraph1 the ,secretary1 in the ,secretary's discretion1 may suspend or terminate the designation of any regional center1 or impose other sanctions against the regional center1 if-- 7,i7 the regional center is permanently or temporarily enjoined by order1 judgment1 or decree of any court of competent jurisdiction in connection with the offer1 purchase1 or sale of a security or the provision of investment advice1 or any party associated with the regional center is so enjoined and the regional center knew1 or reasonably should have known1 that this is the case2 7,,ii7 the regional center is subject to any final order of the ,securities and ,exchange ,commission or a ,state securities regulator1 or any party associated with the regional center is subject to such an order and the regional center knew1 or reasonably should have known1 that this is the case1 if the order-- 7aa7 bars such person from association with an entity regulated by the ,securities and ,exchange ,commission or a ,state securities regulator2 or 7bb7 constitutes a final order based on a finding of an intentional violation or a violation related to fraud or deceit in connection with the offer1 purchase1 or sale of1 or investment advice relating to1 a security2 or 7,,iii7 the regional center submitted or caused to be submitted a certification described in clause 7ii7 that contained an untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements made1 in light of the circumstances under which they were made1 not misleading1 or any party associated with the regional center undertook such an action and the regional center knew1 or reasonably should have known1 that this is the case4 7v7 ,savings provision ,nothing in this subparagraph may be construed to impair or limit the authority of the ,securities and ,exchange ,commission under the ,federal securities laws or any ,state securities regulator under ,state securities laws4 7vi7 ,defined term ,in this subparagraph1 the term party associated with a regional center means-- 7,i7 the regional center2 7,,ii7 any new commercial enterprise or affiliated job-creating entity or issuer of securities associated with the regional center2 7,,iii7 the regional center's and new commercial enterprise's owners1 officers1 directors1 managers1 partners1 agents1 employees1 promoters and attorneys2 or 7,,iv7 any person in active concert or participation with the regional center or directly or indirectly controlling1 controlled by1 or under common control with the regional center4 7,m7 ,,eb-#e integrity fund 7i7 ,establishment ,there is established in the ,united ,states ,treasury a special fund1 which shall be known as the ,,eb-#e ,integrity ,fund 7referred to in this subparagraph as the ,fund74 ,amounts deposited into the ,fund shall be available to the ,secretary of ,homeland ,security until expended for the purposes set forth in clause 7iii74 7ii7 ,fees 7,i7 ,annual fee ,beginning on ,january #a1 #bjag1 and each year thereafter1 the ,secretary of ,homeland ,security shall collect a fee of #be1jjj for the ,fund from each regional center designated under subparagraph 7,h74 ,the fee shall be #aj1jjj if a regional center has #bj or fewer alien investors investing pursuant to subparagraph 7,h7 in the immediately preceding fiscal year in its new commercial enterprises4 7,,ii7 ,petition fee ,beginning on ,october #a1 #bjaf1 the ,secretary shall collect a fee of #b1jjj for the ,fund with each petition filed pursuant to section #bjd7;a77#a77;,h7 for classification under this paragraph pursuant to subparagraph 7,h74 7,,iii7 ,increases ,the ,secretary may prescribe regulations1 as necessary1 to increase the dollar amounts under this clause to ensure the ,secretary's continued ability to carry out the activities specified in clause 7iii74 7iii7 ,permissible uses of fund ,the ,secretary shall-- 7,i7 use not less than #a_/c of the amounts deposited into the ,fund to conduct audits and site visits 7with or without notice72 7,,ii7 use not less than #a_/c of the amounts deposited into the ,fund for investigations based outside of the ,united ,states1 including-- 7aa7 monitoring and investigating program-related events and promotional activities2 and 7bb7 ensuring an alien investor's compliance with subparagraph 7,d72 7,,iii7 use amounts deposited into the ,fund-- 7aa7 to detect and investigate fraud or other crimes2 and 7bb7 to determine whether regional centers1 new commercial enterprises1 any affiliated job-creating entities1 and alien investors 7and their alien spouses and alien children1 if any7 comply with applicable immigration laws2 7,,iv7 use amounts deposited into the ,fund to conduct interviews of the owners1 officers1 directors1 managers1 partners1 agents1 employees1 promoters1 and attorneys of regional centers1 new commercial enterprises1 and job-creating entities2 and 7,v7 otherwise use amounts deposited into the ,fund as the ,secretary determines to be necessary1 including monitoring compliance with the requirements under section #h of the ,american ,job ,creation and ,investment ,promotion ,reform ,act of #bjaf4 7iv7 ,failure to pay fee ,the ,secretary of ,homeland ,security shall-- 7,i7 impose a reasonable penalty1 which shall be deposited into the ,fund1 if a regional center does not pay the fee required under clause 7ii77,i7 within #cj days of the date on which such clause requires the ,secretary to collect the fee2 and 7,,ii7 terminate the designation of any regional center that does not pay the fee required under clause 7ii77,i7 within #ij days of the date on which such clause requires the ,secretary to collect the fee4 7v7 ,report ,the ,secretary shall submit an annual report to the ,committee on the ,judiciary of the ,senate and the ,committee on the ,judiciary of the ,house of ,representatives that describes how amounts in the ,fund were expended during the immediately preceding fiscal year4 7,n7 ,direct and third-party promoters 7i7 ,rules and standards ,direct and third party promoters of a regional center1 any new commercial enterprise1 an affiliated job-creating entity1 or issuer of securities affiliated with the regional center shall comply with the rules and standards prescribed by the ,secretary of ,homeland ,security and any applicable ,federal or ,state securities laws1 to oversee regional center promotion1 including-- 7,i7 registration with ,u4,s4 ,citizenship and ,immigration ,services1 which-- 7aa7 may be limited to identifying and contact information of such promoter and confirmation of the existence of the written agreement required by clause 7iii72 and 7bb7 shall not include any requirement that ,u4,s4 ,citizenship and ,immigration ,services approve the registration of such promoter2 7,,ii7 minimum qualifications2 7,,iii7 guidelines for offering investment opportunities and representing the visa process to prospective investors under the program established under subparagraph 7,h72 and 7,,iv7 permissible fee arrangements4 7ii7 ,effect of violation ,if the ,secretary determines that a direct or third-party promoter has violated clause 7i71 the ,secretary shall suspend or permanently bar such individual from participation in the program described in this paragraph4 7iii7 ,compliance ,each regional center shall maintain a written agreement between the regional center1 the new commercial enterprise1 any affiliated job-creating entity1 or any issuer of securities affiliated with the regional center1 and each direct or third-party promoter operating on behalf of such entities or issuer that outlines the rules and standards prescribed under clause 7i74 7iv7 ,disclosure ,each petition filed pursuant to section #bjd7;a77#a77;,h7 for classification under this paragraph pursuant to subparagraph 7,h7 shall include a disclosure1 signed by the alien investor1 that reflects all fees1 ongoing interest1 and other compensation paid to any person that the regional center or new commercial enterprise knows has received1 or will receive1 in connection with the investment1 including compensation to agents1 finders1 or broker dealers involved in the offering1 to the extent not already specifically identified in the business plan filed under subparagraph 7,i74 7v7 ,publication ,the list of such registered promoters may be made publicly available by the ,secretary4 7,o7 ,treatment of good faith investors following program noncompliance 7i7 ,termination or debarment of ,,eb-#e entity ,except as provided in clause 7v71 upon the termination or debarment1 as applicable1 from the program under this paragraph of a regional center1 new commercial enterprise1 or job-creating entity1 an otherwise qualified petition under section #bjd7;a77#a77;,h7 or the conditional permanent residence of an alien who has been admitted to the ,united ,states pursuant to section #baf;,a7a77#a7 based on an investment in a terminated regional center1 new commercial enterprise1 or job-creating entity shall remain valid or continue to be authorized1 as applicable1 consistent with this subparagraph4 7ii7 ,new regional center or investment ,the petition under section #bjd7;a77#a77;,h7 of an alien described in clause 7i7 and the conditional permanent resident status of an alien described in clause 7i7 shall be terminated #ahj days after the termination from the program under this paragraph of a regional center1 a new commercial enterprise1 or a job creating entity unless-- 7,i7 in the case of the termination of a regional center-- 7aa7 the new commercial enterprise associates with an approved regional center2 7bb7 such alien makes a qualifying investment in another new commercial enterprise associated with an approved regional center2 or 7cc7 such alien makes a qualifying investment in another new commercial enterprise under this paragraph not associated with a regional center2 or 7,,ii7 in the case of the debarment of a new commercial enterprise or job-creating entity1 such alien invests in another new commercial enterprise associated with an approved regional center4 7iii7 ,removal of conditions ,aliens described in subclause 7,i77bb71 7,i77cc71 or 7,,ii7 of clause 7ii7 shall be eligible to have their conditions removed pursuant to section #baf;,a beginning on the date that is #b years after the date of the subsequent investment4 7iv7 ,in case of enforcement action ,except as provided in clause 7v71 if the ,secretary1 the ,attorney ,general1 or the ,securities and ,exchange ,commission files a criminal or civil enforcement action in any ,united ,states ,district ,court containing allegations that a regional center1 new commercial enterprise1 job-creating entity1 or any person involved with the foregoing entities1 committed fraud which affected an alien's investment capital under subparagraph 7,a71 or if a ,state authority or agency files such an action in a ,state court-- 7,i7 for all related petitions for classification under this paragraph and petitions for removal of conditions described in section #baf;,a-- 7aa7 the ,secretary may hold such petitions in abeyance unless ordered to take action by the ,united ,states ,district ,court overseeing such action1 if applicable2 and 7bb7 the ,united ,states ,district ,court overseeing such action1 if applicable1 may enter an order extending any deadlines applicable under this paragraph and to prevent age-out of derivative beneficiaries2 7,,ii7 the alien investor may-- 7aa7 petition to amend the alien's underlying petition for classification under this paragraph or the petition for removal of conditions described in section #baf;,a7c7 without such facts underlying the amendment being deemed a material change2 and 7bb7 retain the immigrant visa priority date related to the original petition2 and 7,,iii7 any funds obtained or recovered by an alien investor1 directly or indirectly1 from claims against third parties1 including insurance proceeds1 or any additional investment capital provided by the alien after the enforcement action described in this clause is filed1 may be deemed to be such alien's investment capital for the purposes of subparagraph 7,a7 if such investment otherwise complies with the requirements of this paragraph and section #baf;,a4 7v7 ,exception ,if the ,secretary has reason to believe an alien was a knowing participant in the conduct that led to the termination of a regional center1 new commercial enterprise1 or job-creating entity1 as described in clause 7i71 or was a knowing participant in the alleged wrongdoing that led to an enforcement action described in clause 7iv7-- 7,i7 the alien shall not be accorded any benefit under this subparagraph2 and 7,,ii7 the ,secretary shall notify the alien of such belief and1 subject to section #baf;,a7b77#b71 shall deny or initiate proceedings to revoke the approval of such alien's petition1 application1 or benefit 7and that of any spouse or child1 if applicable7 described in this paragraph4 7,p7 ,account transparency requirement 7i7 ,in general ,except as provided in clause 7iii71 a new commercial enterprise shall deposit and maintain the capital investment of each alien investor in a separate account as described in this subparagraph1 including funds held in escrow4 7ii7 ,requirements for ,separate ,accounts 7,i7 ,required information ,prior to1 or within one business day of1 the deposit of an alien investor's capital investment in a separate account1 the new commercial enterprise shall provide the following information to the alien investor whose capital investment will be or has been deposited into the separate account1 the regional center associated with the new commercial enterprise1 and the ,director of ,u4,s4 ,citizenship and ,immigration ,services3 7aa7 ,the name1 address1 and other contact information of the bank or other financial institution where the separate account is or will be maintained and the name of the authorized signatory required under subclause 7,,ii74 7bb7 ,sufficient information to enable the alien investor whose capital investment will be or has been deposited into the separate account1 the regional center associated with the new commercial enterprise1 and the ,director to view online the balance in the separate account on an ongoing basis4 7,,ii7 ,authorized signatories ,at least one of the authorized signatories to the separate account shall be an individual who is-- 7aa7 independent of1 and not directly or indirectly related to1 the new commercial enterprise1 the regional center associated with the new commercial enterprise1 the job creating entity1 or any of the principals or managers of such entities2 and 7bb7 an officer at the bank or other financial institution where the separate account is maintained2 licensed1 active1 and in good standing as an attorney1 certified public accountant1 or broker-dealer2 or otherwise authorized by the ,director to serve as a signatory4 7iii7 ,transfers from a separate account 7,i7 ,in general ,the funds in a separate account may be transferred only-- 7aa7 to the alien investor who contributed the funds held in the separate account as a refund of that investor's capital investment if otherwise permitted under this paragraph1 to another separate account1 or to a job creating entity or otherwise deployed into the capital investment project for which the funds were intended2 and 7bb7 after at least one of the authorized signatories described in clause 7ii77,,ii7 has provided written consent for the proposed transfer4 7,,ii7 ,notice ,prior to1 or within one business day of1 funds being transferred from a separate account1 the new commercial enterprise shall provide notice to the alien investor whose capital investment has been or will be transferred from the separate account1 the regional center associated with the new commercial enterprise1 and the ,director1 including-- 7aa7 the amount of the funds that are to be or were transferred2 and 7bb7 the destination of the transferred funds1 including whether the funds are transferred to another separate account1 or transferred directly to a job creating entity or otherwise deployed into the capital investment project for which the funds were intended4 7,,iii7 ,transfer of funds ,in the case of a transfer of funds from a separate account maintained by a new commercial enterprise to an affiliated job creating entity1 the affiliated job creating entity shall maintain the funds in a separate account that meets the requirements of this section until the funds are deployed into the capital investment project for which they were intended4 ,within #cj days of the deployment of the funds into the capital investment project for which they were intended1 an individual who is licensed1 active1 and in good standing as an attorney1 certified public accountant1 or broker-dealer1 or an individual otherwise authorized by the ,director to serve as a signatory1 shall verify that the funds were deployed into the capital investment project for which they were intended and shall so notify the alien investor whose capital investment was invested1 the regional center associated with the capital investment project1 and the ,director4 7iv7 ,electronic mail authorized ,any notice or information to be provided under this section may be given via electronic mail4 7v7 ,definitions ,in this subparagraph3 7,i7 ,the term financial institution has the meaning given such term by section #bj of title #ah1 ,united ,states ,code4 7,,ii7 ,the term separate account means an account-- 7aa7 maintained in the ,united ,states by a new commercial enterprise at a federally regulated bank or at another financial institution in the ,united ,states that is insured2 and 7bb7 that contains only the pooled investment funds of alien investors in a new commercial enterprise with respect to a single capital investment project4 4 7c7 ,effective dates 7#a7 ,in general ,except as provided in paragraph 7#b71 the amendments made by this section shall be effective at any time after the date of the enactment of this ,act1 as determined by the ,secretary1 and shall be effective not later than #ij days after such date of enactment4 7#b7 ,exceptions 7,a7 ,clauses 7iv7 and 7v7 of subparagraph 7,h7 of section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 as inserted by subsection 7b71 shall not apply to a petition that-- 7i7 was filed by an alien investor under such section #bjc7;b77#e7 prior to ,june #a1 #bjae2 7ii7 was filed by an alien investor under such section #bjc7;b77#e7 during the period beginning on ,june #a1 #bjae1 and ending on the date of the enactment of this ,act if such beneficiary is investing in the same commercial enterprise concerning the same economic activity as contained in an exemplar filed prior to ,june #a1 #bjae1 or approved by the ,secretary of ,homeland ,security at any time prior to the date of enactment of this ,act1 unless the ,secretary determines that such approval or filing was based on fraud1 misrepresentation in the record of proceeding1 or is legally deficient2 or 7iii7 is filed under section #baf;,a of such ,act 7#h ,u4,s4,c4 #aahf;b7 if the underlying petition filed under section #bjc7;b77#e7 of such ,act was filed prior to ,june #a1 #bjae1 or approved before the date of the enactment of this ,act4 7,b7 ,subparagraph 7,p7 of section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 as inserted by subsection 7b71 shall take effect #a year after the date of the enactment of this ,act and shall apply to any application filed by a regional center for approval of an investment under subparagraph 7,i7 of such section #bjc7;b77#e71 as so inserted1 filed on or after such date4 #d4 ,other ,,eb-#e visa reforms 7a7 ,type of investment ,section #bjc7;b77#e77;,a7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,a771 is amended-- 7#a7 in the matter preceding clause 7i71 by striking 7including a limited partnership72 7#b7 in clause 7i71 by striking 7,c71 and inserting 7,b71 and which is expected to remain invested for not less than #b years22 and 7#c7 in clause 7ii7-- 7,a7 by striking and create and inserting by creating2 and 7,b7 by inserting 1 ,united ,states nationals1 after citizens4 7b7 ,targeted employment areas ,section #bjc7;b77#e77;,b7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,b77 is amended to read as follows3 7,b7 ,visa set-asides and area designations 7i7 ,reserved visas 7,i7 ,in general ,of the visas made available under this paragraph in each fiscal year-- 7aa7 #b1jjj shall be reserved for immigrants who invest in rural areas2 and 7bb7 #b1jjj shall be reserved for immigrants who invest in priority urban investment areas4 7,,ii7 ,unused visas ,at the end of each fiscal year1 any unused visa within each category described in subclause 7,i7 shall remain available within the same category for subsequent fiscal years4 7ii7 ,eligibility ,the ,secretary of ,homeland ,security shall determine eligibility for designation as a targeted employment area and shall not be bound by the determination of any other governmental or nongovernmental entity4 7iii7 ,designation of infrastructure project1 manufacturing project1 and targeted employment area 7,i7 ,infrastructure project or manufacturing project ,the designation of an infrastructure project or manufacturing project shall be made at the time of the investment4 7,,ii7 ,targeted employment area ,the designation of a targeted employment area-- 7aa7 may be made at the time of the investment or at the time an application is filed under subparagraph 7,i72 and 7bb7 shall be valid for a #b-year period4 7,,iii7 ,designations and renewals ,the ,secretary shall establish a process by which regional centers may request a designation under subclause 7,i7 or 7,,ii74 ,a designation under either such subclause shall be issued not later than #fj days after a request by a regional center and a designation under subclause 7,,ii7 may be renewed for additional #b-year periods if the area continues to meet the definition of a targeted employment area4 ,an alien investor who has made the required amount of investment in such an area during its period of designation shall not be required to increase the amount of investment based upon expiration of the designation4 ,the ,secretary shall establish a fee for the adjudication of a designation request at a level that is sufficient to ensure the full recovery of the costs of providing such adjudication within the required timeframe4 ,nothing in this clause shall be deemed to prohibit an investor from filing a petition before such designation is made4 4 7c7 ,adjustment of minimum investment amount 7#a7 ,in general ,section #bjc7;b77#e77;,c7 of such ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,c77 is amended-- 7,a7 by redesignating clause 7iii7 as clause 7iv72 7,b7 by striking clauses 7i7 and 7ii7 and inserting the following3 7i7 ,minimum investment amounts ,except as otherwise provided in this subparagraph1 the amount of capital required under subparagraph 7,a7 shall be-- 7,i7 #a1bjj1jjj 7except as provided in subclause 7,,ii772 or 7,,ii7 #hjj1jjj in the case of an investment in an infrastructure project1 a manufacturing project1 or a project that is physically located in a targeted employment area4 7ii7 ,authority to increase investment amounts ,the ,secretary may periodically prescribe regulations increasing the dollar amount specified under clause 7i7 if any such increase simultaneously affects each category of investment under clause 7i7 by the same percentage4 ,the ,secretary shall publish a notice in the ,federal ,register no later than the date that is #fj days prior to the date upon which the increase will take effect4 7iii7 ,automatic adjustment of minimum investment amounts ,beginning on ,january #a1 #bjbb1 and on every fifth subsequent ,january #a1 after notice in the ,federal ,register is published for not less than #fj days1 the ,secretary shall adjust each of the minimum amounts specified in clause 7i7 as follows3 7,i7 ,no increases in previous #e fiscal years ,if the ,secretary did not increase the minimum amount during the #e prior fiscal years concluding with the fiscal year ending on ,september #cj of the prior calendar year1 the amounts specified in clause 7i7 shall automatically be adjusted by the amount of the cumulative percentage change in the ,consumer ,price ,index 7,,cpi-,u7 for the previous #e fiscal years1 rounded to the nearest multiple of #aj1jjj4 7,,ii7 ,increases below ,,cpi-,u during previous #e fiscal years ,if the ,secretary increased the minimum amount during the previous #e fiscal years by an amount that is less than the cumulative percentage change in the ,,cpi-,u during the previous #e fiscal years1 the amounts specified in clause 7i7 shall automatically be adjusted by the amount of such cumulative percentage change for such period minus any increase previously prescribed by the ,secretary by regulations1 rounded to the nearest multiple of #aj1jjj4 7,,iii7 ,increases above ,,cpi-,u during previous #e fiscal years ,if the ,secretary increased the minimum amount during the previous #e fiscal years by an amount that is greater than the cumulative percentage change in the ,,cpi-,u during the previous #e fiscal years1 the amounts specified in clause 7i7 shall not be increased4 2 and 7,c7 in clause 7iv71 as redesignated1 by striking ,attorney ,general and inserting ,secretary4 7#b7 ,redesignations ,section #bjc7;b77#e7 of such ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 is amended-- 7,a7 by redesignating subparagraph 7,b71 as amended by subsection 7b71 as subparagraph 7,c72 7,b7 by redesignating the second subparagraph 7,c71 as amended by paragraph 7#a71 as subparagraph 7,b72 and 7,c7 by moving subparagraph 7,b71 as so redesignated1 so that it appears after subparagraph 7,a74 7d7 ,required checks ,section #bjc7;b77#e7 of the ,immigration and ,nationality ,act1 as amended by sections #b and #c1 is further amended by inserting after subparagraph 7,o7 the following3 7,p7 ,required checks ,an alien investor1 alien spouse1 or alien child may not be granted the status of an alien lawfully admitted for permanent residence under this paragraph unless the ,secretary of ,homeland ,security has determined that such alien is not on the ,department of the ,treasury's ,office of ,foreign ,assets ,control ,specially ,designated ,nationals ,list4 4 7e7 ,definitions 7#a7 ,in general ,section #bjc7;b77#e7 of such ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 as amended by sections #b and #c of this ,act1 is further amended by striking the second subparagraph 7,d7 7relating to definitions7 and inserting the following3 7,q7 ,definitions ,in this paragraph3 7i7 ,affiliated job-creating entity ,the term affiliated job-creating entity means any job-creating entity that is directly or indirectly controlled1 managed1 or owned by any of the persons involved with the regional center or new commercial enterprise under section #bjc7;b77#e77,k77v74 7ii7 ,capital ,the term capital-- 7,i7 means cash and all real1 personal1 or mixed tangible assets owned and controlled by the alien investor1 or held in trust for the benefit of the alien and to which the alien has unrestricted access2 7,,ii7 shall be valued at fair market value in ,united ,states dollars1 in accordance with ,generally ,accepted ,accounting ,principles or other standard accounting practice adopted by the ,securities and ,exchange ,commission1 at the time it is invested under this paragraph2 and 7,,iii7 shall not include assets acquired1 directly or indirectly1 by unlawful means1 including any cash proceeds of indebtedness secured by such assets4 7iii7 ,certifier ,the term certifier means a person in a position of substantive authority for the management or operations of a regional center1 new commercial enterprise1 affiliated job-creating entity1 or issuer of securities1 such as a principal executive officer or principal financial officer1 with knowledge of such entity's policies and procedures related to compliance with the requirements of this paragraph4 7iv7 ,full-time employment ,the term full-time employment means employment in a position that requires at least #ce hours of service per week for at least a #bd-month period1 regardless of who fills the position4 ,a position or job that is filled by more than #a employee may be considered full-time employment for purposes of subparagraph 7,a77ii74 7v7 ,infrastructure project ,the term infrastructure project means a capital investment project in a filed or approved business plan1 which is administered by a governmental entity1 such as a ,federal1 ,state1 or local agency or authority1 in which the entity contracts with a regional center1 new commercial enterprise1 or job-creating entity to receive capital investment under the regional center program described in subparagraph 7,h7 from alien investors or the new commercial enterprise as financing for maintaining1 improving1 or constructing a public works project4 7vi7 ,job-creating entity ,the term job-creating entity means any organization formed in the ,united ,states for the ongoing conduct of lawful business1 including a partnership 7whether limited or general71 corporation1 limited liability company1 or other entity that receives1 or is established to receive1 capital investment from alien investors or a new commercial enterprise under the regional center program described in subparagraph 7,h7 and which is responsible for creating jobs to satisfy the requirement under subparagraph 7,a77ii74 7vii7 ,manufacturing project ,the term manufacturing project means a capital investment project in a filed or approved business plan1 the purpose of which is to improve1 construct1 or operate a plant1 factory1 or mill1 which primarily exists in order to produce or assemble a product in the ,united ,states4 7viii7 ,new commercial enterprise ,the term new commercial enterprise means any for-profit organization formed in the ,united ,states for the ongoing conduct of lawful business1 including a partnership 7whether limited or general71 corporation1 limited liability company1 or other entity that receives1 or is established to receive1 capital investment from alien investors under subparagraph 7,h74 7ix7 ,priority urban investment area ,the term priority urban investment area means an area consisting of a census tract or tracts1 each of which is in a metropolitan statistical area and1 using the most recent census data available1 each of which has-- 7,i7 an unemployment rate that is at least #aej percent of the national average unemployment rate2 7,,ii7 a poverty rate that is at least #cj percent2 or 7,,iii7 a median family income that is not more than #fj percent of the greater of the statewide median family income or the metropolitan statistical area median family income4 7x7 ,rural area ,the term rural area means an area that-- 7,i7 is outside of the outer boundary of any city or town having a population of #bj1jjj or more 7based on the most recent decennial census of the ,united ,states72 and 7,,ii7 is-- 7aa7 outside of a metropolitan statistical area2 7bb7 within an outlying county of a metropolitan statistical area2 or 7cc7 within any census tract that is greater than #ajj square miles in area and has a population density of fewer than #ajj people per square mile4 7xi7 ,targeted employment area ,the term targeted employment area means-- 7,i7 a priority urban investment area2 7,,ii7 a rural area2 7,,iii7 any area within the geographic boundaries of any military installation that was closed1 during the #be-year period immediately preceding the filing of an application under subparagraph 7,f7 based upon a recommendation by the ,defense ,base ,closure and ,realignment ,commission2 or 7,,iv7 an area consisting of a census tract or contiguous census tracts1 each of which1 using the most recent census data available-- 7aa7 is not located within a metropolitan statistical area2 and 7bb7 has a poverty rate that is at least #bj percent or a median family income that is not more than #hj percent of the statewide median family income4 4 7#b7 ,rulemaking ,the ,secretary of ,homeland ,security shall issue appropriate regulations to account for the modified definition of targeted employment area in section #bjc7;b77#e77,q77xi7 of the ,immigration and ,nationality ,act1 as added by paragraph 7#a71 within #ahj days of the enactment of this ,act4 7f7 ,age determination for children of alien investors ,section #bjc7;h7 of such ,act 7#h ,u4,s4,c4 #aaec7;h77 is amended by adding at the end the following3 7#e7 ,age determination for children of alien investors ,an alien who has reached #ba years of age and has been admitted under subsection 7d7 as a lawful permanent resident on a conditional basis as the child of an alien lawfully admitted for permanent residence under subsection 7b77#e71 whose lawful permanent resident status on a conditional basis is terminated under section #baf;,a or subparagraph 7,o7 of subsection 7b77#e71 shall continue to be considered a child of the principal alien for the purpose of a subsequent immigrant petition by the principle alien under subsection 7b77#e7 if the alien who was a child of the principle alien remains unmarried and the subsequent petition is filed by the principal alien not later than #a year after the termination of conditional lawful permanent resident status4 ,no alien shall be considered a child under this paragraph with respect to more than #a petition filed after the alien reaches #ba years of age4 4 7g7 ,enhanced pay scale for certain federal employees administering the employment creation program ,the ,secretary of ,homeland ,security may establish1 fix the compensation of1 and appoint individuals to designated critical1 technical1 and professional positions needed to administer sections #bjc7;b77#e7 and #baf;,a of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e7 and #aahf;b74 7h7 ,concurrent filing of ,,eb-#e petitions and applications for adjustment of status ,section #bde of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #abee7 is amended-- 7#a7 in subsection 7k71 in the matter preceding paragraph 7#a71 by striking or 7#c7 and inserting 7#c71 or 7#e72 and 7#b7 by adding at the end the following3 7n7 ,if the approval of a petition for classification under section #bjc7;b77#e7 would make a visa immediately available to the alien beneficiary1 the alien beneficiary's application for adjustment of status under this section shall be considered to be properly filed whether the application is submitted concurrently with1 or subsequent to1 the visa petition4 4 7i7 ,conforming ,changes 7#a7 ,section #bja7;d77#a7 is amended by-- 7,a7 striking the period at the end of subparagraph 7,b7 and inserting 1 plus2 and 7,b7 inserting the following new subparagraph 7,c7 at the end-- 7,c7 the number of unused visas computed under section #bjc7;b77#e77;,c77i77,,ii7 7which number shall be allocated pursuant to such section74 4 7#b7 ,section #bjc7;b77#a7 of the ,immigration and ,nationality ,act is amended by inserting 1 subject to section #bjc7;b77#e77;,c77i71 after classes specified in paragraphs 7#d7 and 7#e74 7#c7 ,section #bjc7;b77#e77;,a7 of the ,immigration and ,nationality ,act is amended by striking ,visas shall be made available and inserting ,subject to section #bjc7;b77#e77;,c77i71 visas shall be made available4 7j7 ,effective dates 7#a7 ,in general ,except as provided under paragraph 7#b71 the amendments made by this section shall be effective upon the date of the enactment of this ,act4 7#b7 ,exceptions 7,a7 ,in general ,the amendments made by subparagraphs 7,a7 and 7,b7 of subsection 7c77#a7 and subsection 7e77#a7 shall not apply to a beneficiary of a petition that-- 7i7 was filed by an alien investor under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 prior to ,june #a1 #bjae2 7ii7 was filed by an alien investor under such section #bjc7;b77#e7 during the period beginning on ,june #a1 #bjae1 and ending on the date of the enactment of this ,act if such beneficiary is investing in the same commercial enterprise concerning the same economic activity as contained in an exemplar filed prior to ,june #a1 #bjae1 or approved by the ,secretary of ,homeland ,security at any time prior to the date of enactment of this ,act1 unless the ,secretary determines that such approval or filing was based on fraud1 misrepresentation in the record of proceeding1 or is legally deficient2 or 7iii7 is filed under section #baf;,a of such ,act 7#h ,u4,s4,c4 #aahf;b7 if the underlying petition filed under section #bjc7;b77#e7 of such ,act was filed prior to ,june #a1 #bjae1 or approved before the date of the enactment of this ,act4 7,b7 ,reserved visas ,items 7aa7 and 7bb7 of section #bjc7;b77#e77;,c77i77,i7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,c77i77,i771 as added by this section1 shall take effect beginning on ,october #a1 #bjaf4 7#c7 ,redesignation 7,a7 ,petition amendment ,petitioners described in paragraph 7#b77;,a7 may apply to amend their petition to redesignate the targeted employment area upon which such petition was based to conform to the targeted employment area criteria described in section #bjc7;b77#e77,q7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77,q771 as amended by subsection 7e71 if such application for amendment is filed with the ,secretary prior to ,october #a1 #bjag4 7,b7 ,retention of priority date ,if a petitioner applies to amend a petition in accordance with subparagraph 7,a7-- 7i7 the immigrant visa priority date related to the original petition shall be retained2 7ii7 changes made in the amended petition to redesignate such area shall not be deemed a material change2 and 7iii7 the minimum investment amount such petitioner is required to make shall not be affected by any such redesignation4 #e4 ,conditional permanent resident status for alien investors1 spouses1 and children 7a7 ,in general ,section #baf;,a of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aahf;b7 is amended-- 7#a7 by striking ,attorney ,general each place such term appears 7except in subsection 7d77#b77;,c77 and inserting ,secretary of ,homeland ,security2 7#b7 by striking entrepreneur each place such term appears and inserting investor2 7#c7 in subsection 7a71 by amending paragraph 7#a7 to read as follows3 7#a7 ,conditional basis for status 7,a7 ,in general ,except as provided in subparagraph 7,b71 an alien investor1 alien spouse1 and alien child shall be considered1 at the time of obtaining status of an alien lawfully admitted for permanent residence1 to have obtained such status on a conditional basis subject to the provisions of this section4 7,b7 ,exception ,an alien investor 7and his or her alien spouse or alien child7 whose petition under subsection 7f7 is approved before the alien investor is lawfully admitted for permanent residence shall be granted the status of an alien lawfully admitted for permanent residence without conditions4 2 7#d7 in subsection 7b7-- 7,a7 in the heading1 by striking ,entrepreneurship and inserting ,investment2 and 7,b7 by amending paragraph 7#a77;,b7 to read as follows3 7,b7 the alien did not invest the requisite capital2 or 2 7#e7 in subsection 7c7-- 7,a7 in the heading1 by striking of ,timely ,petition and ,interview2 7,b7 in paragraph 7#a7-- 7i7 in the matter preceding subparagraph 7,a71 by striking ,in order and inserting ,except as provided in paragraph 7#c77;,d71 in order2 7ii7 in subparagraph 7,a7-- 7,i7 by striking must and inserting shall2 and 7,,ii7 by striking 1 and and inserting a semicolon2 7iii7 in subparagraph 7,b7-- 7,i7 by striking must and inserting shall2 7,,ii7 by striking ,service and inserting ,department of ,homeland ,security2 and 7,,iii7 by striking the period at the end and inserting 2 and2 and 7iv7 by adding at the end the following3 7,c7 the ,secretary shall have performed a site visit to the new commercial enterprise and job-creating entity in which the alien investor invested capital under subparagraph 7,a7 of section #bjc7;b77#e7 pursuant to subparagraph 7,i77iii7 of such section4 2 and 7,c7 in paragraph 7#c7-- 7i7 in subparagraph 7,a71 in the undesignated matter following clause 7ii71 by striking the before such filing2 and 7ii7 by amending subparagraph 7,b7 to read as follows3 7,b7 ,removal or extension of conditional basis 7i7 ,in general ,except as provided in clause 7ii71 if the ,secretary determines that the facts and information contained in a petition submitted under paragraph 7#a77;,a7 are true1 including demonstrating that the alien complied with subsection 7d77#a77;,b77i71 the ,secretary shall-- 7,i7 notify the alien involved of such determination2 and 7,,ii7 remove the conditional basis of the alien's status effective as of the second anniversary of the alien's lawful admission for permanent residence4 7ii7 ,exception ,if the petition demonstrates that the facts and information are true and that the alien is in compliance with subsection 7d77#a77;,b77ii7-- 7,i7 the ,secretary1 in the ,secretary's discretion1 may provide one #a-year extension of the alien's conditional status2 and 7,,ii7 7aa7 if the alien files a petition not later than #cj days after the third anniversary of the alien's lawful admission for permanent residence demonstrating that the alien complied with subsection 7d77#a77;,b77i71 the ,secretary shall remove the conditional basis of the alien's status effective as of such third anniversary2 or 7bb7 if the alien does not file the petition described in item 7aa71 the conditional status shall terminate at the end of such additional year4 2 7#f7 in subsection 7d7-- 7,a7 in paragraph 7#a7-- 7i7 by amending subparagraph 7,a7 to read as follows3 7,a7 invested the requisite capital2 2 7ii7 by redesignating subparagraph 7,b7 as subparagraph 7,c72 and 7iii7 by inserting after subparagraph 7,a7 the following3 7,b7 7i7 created the employment required under section #bjc7;b77#e77;,a77ii72 or 7ii7 is actively in the process of creating the employment required under section #bjc7;b77#e77;,a77ii7 and will create such employment before the third anniversary of the alien's lawful admission for permanent residence2 and 2 7,b7 in paragraph 7#b71 by amending subparagraph 7,a7 to read as follows3 7,a7 #ij-;day period before second anniversary 7i7 ,in general ,except as provided in clause 7ii7 and subparagraph 7,b71 a petition under subsection 7c77#a77;,a7 shall be filed during the #ij-;day period before the second anniversary of the alien investor's lawful admission for permanent residence4 7ii7 ,exception ,aliens described in subclauses 7,i77bb71 7,i77cc71 and 7,,ii7 of section #bjc7;b77#e77,o77ii7 shall file a petition under subsection 7c77#a77;,a7 during the #ij-;day period before the second anniversary of the subsequent investment4 2 and 7,c7 in paragraph 7#c7-- 7i7 by striking ,the interview and inserting the following3 7,a7 ,in general ,the interview 2 7ii7 by striking ,service and inserting ,department of ,homeland ,security2 and 7iii7 by striking the last sentence and inserting the following3 7,b7 ,waiver ,the ,secretary of ,homeland ,security1 in the ,secretary's discretion1 may waive the deadline for such an interview or the requirement for such an interview according to criteria developed by ,united ,states ,citizenship and ,immigration ,services in consultation with its ,fraud ,detection and ,national ,security ,directorate1 and ,united ,states ,immigration and ,customs ,enforcement1 except that such criteria shall not include reduction of case processing times or the allocation of adjudicatory resources4 ,a waiver may not be granted under this subparagraph if the alien to be interviewed-- 7i7 invested in a regional center1 new commercial enterprise1 or job-creating entity that was sanctioned under section #bjc7;b77#e72 or 7ii7 is in a class of aliens determined by the ,secretary to be threats to public safety or national security4 2 7#g7 by redesignating subsection 7f7 as subsection 7g72 7#h7 by inserting after subsection 7e7 the following3 7f7 ,petition from qualified alien investor ,an alien investor who invested the requisite capital and created the employment required under section #bjc7;b77#e77;,a77ii7 at least #bd months before admission1 and is otherwise conforming to the requirements under section #bjc7;b77#e71 may file a petition1 before admission for permanent residence1 to be considered1 at the time of obtaining status of an alien lawfully admitted for permanent residence1 to obtain such status without conditions4 2 and 7#i7 in subsection 7g77#c71 as redesignated1 by striking a limited partnership and inserting any entity formed for the purpose of doing for-profit business4 7b7 ,effective dates 7#a7 ,in general ,except as provided under paragraph 7#b71 the amendments made by subsection 7a7 shall take effect on the date of the enactment of this ,act4 7#b7 ,exceptions 7,a7 ,site visits ,the amendment made by subsection 7a77#e77;,b77iv7 shall take effect not later than #b years after the date of the enactment of this ,act4 7,b7 ,petition beneficiaries ,the amendments made by subsection 7a7 shall not apply to the beneficiary of a petition that is filed under section #baf;,a of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aahf;b7 if the underlying petition filed pursuant to section #bjd7;a77#a77;,h7 of such ,act 7#h ,u4,s4,c4 #aaed7;a77#a77;,h77 was approved before the date of the enactment of this ,act4 #f4 ,procedure for granting immigrant status 7a7 ,filing order and eligibility ,section #bjd7;a77#a77;,h7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaed7;a77#a77;,h77 is amended to read as follows3 7,h7 7i7 ,an alien desiring to be classified under section #bjc7;b77#e7 may file a petition with the ,secretary of ,homeland ,security1 but only if the alien is not under #ah years of age at the time of filing4 ,an alien who seeks to pool the alien's investment with one or more additional aliens seeking classification under section #bjc7;b77#e7 shall file for classification pursuant to section #bjc7;b77#e77;,h74 ,an alien petitioning for classification pursuant to section #bjc7;b77#e77;,h7 may only file a petition with the ,secretary after the regional center has filed an application for approval of an investment under section #bjc7;b77#e77;,i74 7ii7 ,a petitioner shall establish eligibility at the time the alien files for classification under section #bjc7;b77#e7 and1 if not eligible at the time of filing1 shall be denied such classification even if the petitioner later becomes eligible under materially different facts or circumstances4 ,aliens asserting eligibility under a materially different set of facts that did not exist when the petition was filed shall file a new petition4 ,a petitioner shall continue to be eligible for classification at the time such petition is adjudicated4 4 7b7 ,effective dates 7#a7 ,in general ,the amendments made by subsection 7a7 shall take effect on the date of the enactment of this ,act4 7#b7 ,applicability to petitions 7,a7 ,filing ,clause 7i7 of section #bjd7;a77#a77;,h7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaed7;a77#a77;,h771 as added by subsection 7a71 shall apply to any petition for classification pursuant to section #bjc7;b77#e77;,h7 of such ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,h77 that is filed with the ,secretary of ,homeland ,security on or after the date of the enactment of this ,act4 7,b7 ,eligibility ,clause 7ii7 of section #bjd7;a77#a77;,h7 of such ,act1 as added by subsection 7a71 shall apply to any petition for classification pursuant to section #bjc7;b77#e77;,h7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,e77 filed with the ,secretary of ,homeland ,security at any time4 #g4 ,timely processing 7a7 ,fee study ,not later than #ahj days after the date of the enactment of this ,act1 the ,director of ,united ,states ,citizenship and ,immigration ,services shall complete a study of fees charged in the administration of the program described in sections #bjc7;b77#e7 and #baf;,a of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e7 and #aahf;b74 7b7 ,adjustment of fees ,to achieve efficient processing ,notwithstanding section #bhf7m7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #acef7m771 and except as provided under subsection 7c71 the ,director shall set fees for services provided pursuant to section #bjc7;b77#e7 and #baf;,a of such ,act 7#h ,u4,s4,c4 #aaec7;b77#e7 and #aahf;b71 as amended by this ,act1 and for adjudicating petitions filed pursuant to section #bjd7;a77#a77;,h7 of such ,act 7#h ,u4,s4,c4 #aaed7;a77#a77;,h771 as amended by this ,act1 at a level sufficient to ensure the full recovery only of the costs of providing such services1 including the cost of attaining the goal of completing adjudications1 on average1 not later than-- 7#a7 #abj days after receiving a proposal for the establishment of a regional center described in section #bjc7;b77#e77;,h72 7#b7 #abj days after receiving an application for approval of investment in a commercial enterprise described in section #bjc7;b77#e77;,i72 7#c7 #aej days after receiving a petition from an alien desiring to be classified under section #bjc7;b77#e77;,h72 and 7#d7 #ahj days after receiving a petition from an alien for removal of conditions described in section #baf;,a7c74 7c7 ,additional fees ,additional fees in excess of the fee levels described in subsection 7b7 may be charged only to contribute-- 7#a7 in an amount that is equal to the amount paid by all other classes of fee-paying applicants for immigration-related benefits1 to the coverage or reduction of the costs of processing or adjudicating classes of immigration benefit applications that ,congress1 or the ,secretary in the case of asylum applications1 has authorized to be processed or adjudicated at no cost or at a reduced cost to the applicant2 and 7#b7 in an amount that is not greater than #a percent of the fee for filing a petition pursuant to section #bjd7;a77#a77;,h7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaed7;a77#a77;,h771 to make improvements to the information technology systems used by the ,secretary to process1 adjudicate1 and archive applications and petitions under such section1 including the conversion to electronic format of documents filed by petitioners and applicants for benefits under such section4 7d7 ,premium processing of ,,eb-#e petitions and applications 7#a7 ,modification of existing premium processing provision ,section #bhf7u7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #acef7u77 is amended to read as follows3 7u7 ,premium fee for employment-,based petitions and applications 7#a7 ,in general ,the ,secretary of ,homeland ,security is authorized to establish and collect a premium fee for employment-based petitions and applications4 ,the fee under this paragraph shall be used to provide certain premium-processing services to business customers and to make infrastructure improvements in the adjudications and customer-service processes4 ,for approval of the benefit applied for1 the petitioner or applicant shall meet the legal criteria for such benefit4 ,except as provided under paragraph 7#b71 the fee under this paragraph shall be set at #a1jjj1 shall be paid in addition to any normal petition or application fee that may be applicable1 and shall be deposited as offsetting collections in the ,immigration ,examinations ,fee ,account4 ,the ,secretary may adjust the fee under this paragraph in proportion to changes in the ,consumer ,price ,index4 7#b7 ,alien investor petitions and applications ,the ,secretary shall establish and collect a premium fee for expeditious processing of applications for regional center designation or regional center amendment under section #bjc7;b77#e77;,h71 petitions under section #bjc7;b77#e71 petitions for removal of conditions on lawful permanent residence under section #baf;,a7c71 and applications under section #bjc7;b77#e77;,i7 related to investment in a new commercial enterprise 7as defined in section #bjc7;b77#e77,q774 ,a petitioner or applicant shall be permitted an opportunity to provide additional evidence identified by the ,secretary in any such petition or application prior to a final determination4 ,the premium fee for each such application or petition shall be set at an amount sufficient to adjudicate such application or petition within #a_/b of the relevant period set forth in section #f7;b7 of the ,american ,job ,creation and ,investment ,promotion ,reform ,act of #bjaf1 and shall otherwise only be used to recover the costs of such processing1 including the hiring of additional adjudicatory staff1 shall be paid in addition to any normal petition or application fee that may be applicable1 and shall be deposited as offsetting collections in the ,immigration ,examinations ,fee ,account4 4 7#b7 ,establishment of ,,eb-#e premium processing ,not later than #ahj days after the date of the enactment of this ,act1 the ,secretary of ,homeland ,security shall establish the premium processing of immigrant investor petitions and applications1 as described in section #bhf7u7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #acef7u771 as amended by paragraph 7#a74 7e7 ,delay in adjudication ,nothing in this ,act may be construed to limit the authority of the ,secretary of ,homeland ,security to suspend the adjudication of any application or petition under section #bjc7;b77#e7 or #baf;,a of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e7 and #aahf;b7 or related petition under section #bjd7;a77#a77;,h7 of such ,act 7#h ,u4,s4,c4 #aaed7;a77#a77;,h77 pending the completion of a national security or law enforcement investigation relating to such application or petition4 7f7 ,exemption from ,paperwork ,reduction ,act ,for a period of one year after the date of the enactment of this ,act1 the requirements of chapter #ce of title #dd1 ,united ,states ,code1 shall not apply to any collection of information required under this ,act1 under any amendment made by this ,act1 or under any rule promulgated by the ,secretary of ,homeland ,security to implement this ,act or the amendments made by this ,act1 to the extent the ,secretary determines that compliance with such requirements would impede the expeditious implementation of this ,act or the amendments made by this ,act4 7g7 ,rule of construction ,nothing in this section may be construed to require any modification of fees before the completion of-- 7#a7 the fee study described in subsection 7a72 and 7#b7 regulations promulgated by the ,secretary of ,homeland ,security1 in accordance with subchapter ,,ii of chapter #e and chapter #g of title #e1 ,united ,states ,code 7commonly known as the ,administrative ,procedure ,act71 to carry out subsections 7b7 and 7c74 #h4 ,transparency 7a7 ,in general ,employees of the ,department of ,homeland ,security1 including the ,secretary of ,homeland ,security1 the ,secretary's counselors1 the ,assistant ,secretary for the ,private ,sector1 the ,director of ,united ,states ,citizenship and ,immigration ,services1 counselors to such ,director1 and the ,chief of ,immigrant ,investor ,programs at ,united ,states ,citizenship and ,immigration ,services1 shall act impartially and may not give preferential treatment to any entity1 organization1 or individual in connection with any aspect of the immigrant visa program described in section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e774 7b7 ,improper activities ,activities that constitute preferential treatment under subsection 7a7 shall include-- 7#a7 working on1 or in any way attempting to influence1 in a manner not available to or accorded to all other petitioners1 applicants1 and seekers of benefits under the immigrant visa program described in section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 as amended by this ,act1 the standard processing of an application1 petition1 or benefit for-- 7,a7 a regional center established under subparagraph 7,h7 of such section2 7,b7 a new commercial enterprise 7as defined in subparagraph 7,q7 of such section72 7,c7 a job-creating entity 7as so defined72 or 7,d7 any person or entity associated with such regional center1 new commercial enterprise1 or job-creating entity2 and 7#b7 meeting or communicating with persons associated with the entities described in paragraph 7#a71 at the request of such persons1 in a manner not available to or accorded to all other petitioners1 applicants1 and seekers of benefits under such immigrant visa program4 7c7 ,reporting of communications 7#a7 ,written communication ,employees of the ,department of ,homeland ,security1 including the officials listed in subsection 7a71 shall include1 in the record of proceeding for a case under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act1 actual or electronic copies of all case-specific written communication1 including e-mails from government and private accounts1 with non-,department persons or entities advocating for regional center applications or individual petitions under such section that are pending on or after the date of the enactment of this ,act 7other than routine communications with other agencies of the ,federal ,government regarding the case1 including communications involving background checks and litigation defense74 7#b7 ,oral communication ,if substantive oral communication1 including telephonic communication1 virtual communication1 and in-person meetings1 takes place between officials of the ,department of ,homeland ,security and non-,department persons or entities advocating for regional center applications or individual petitions under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 that are pending on or after the date of the enactment of this ,act 7other than routine communications with other agencies of the ,federal ,government regarding the case1 including communications involving background checks and litigation defense7-- 7,a7 the conversation shall be recorded2 or 7,b7 detailed minutes of the session shall be taken and included in the record of proceeding4 7#c7 ,notification 7,a7 ,in general ,if the ,secretary1 in the course of written or oral communication described in this subsection1 receives evidence about a specific case from anyone other than an affected party or his or her representative 7excluding ,federal ,government or law enforcement sources71 such information may not be made part of the record of proceeding and may not be considered in adjudicative proceedings unless-- 7i7 the affected party has been given notice of such evidence2 and 7ii7 if such evidence is derogatory1 the affected party has been given an opportunity to respond to the evidence4 7,b7 ,information from law enforcement1 intelligence agencies1 or confidential sources 7i7 ,law enforcement or intelligence agencies ,evidence received from law enforcement or intelligence agencies may not be made part of the record of proceeding without the consent of the relevant agency or law enforcement entity4 7ii7 ,whistleblowers1 confidential sources1 or intelligence agencies ,evidence received from whistleblowers1 other confidential sources1 or the intelligence community that is included in the record of proceeding and considered in adjudicative proceedings shall be handled in a manner that does not reveal the identity of the whistleblower or confidential source1 or reveal classified information4 7d7 ,consideration of evidence 7#a7 ,in general ,no case-specific communication with persons or entities that are not part of the ,department of ,homeland ,security may be considered in the adjudication of an application or petition under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 unless the communication is included in the record of proceeding of the case4 7#b7 ,waiver ,the ,secretary of ,homeland ,security may waive the requirement under paragraph 7#a7 only in the interests of national security or for investigative or law enforcement purposes4 7e7 ,channels of communication 7#a7 ,e-mail address or equivalent ,the ,director of ,united ,states ,citizenship and ,immigration ,services shall maintain an e-mail account 7or equivalent means of communication7 for persons or entities-- 7,a7 with inquiries regarding specific petitions or applications under the immigrant visa program described in section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e772 or 7,b7 seeking non-case-specific information about the immigrant visa program described in such section #bjc7;b77#e74 7#b7 ,communication only through appropriate channels or offices 7,a7 ,announcement of appropriate channels of communication ,not later than #dj days after the date of the enactment of this ,act1 the ,director of ,united ,states ,citizenship and ,immigration ,services shall announce that the only channels or offices by which industry stakeholders1 petitioners1 applicants1 and seekers of benefits under the immigrant visa program described in section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 may communicate with the ,department of ,homeland ,security regarding specific cases under such section 7except for communication made by applicants and petitioners pursuant to regular adjudicatory procedures71 or non-case-specific information about the visa program applicable to certain cases under such section1 are through-- 7i7 the e-mail address or equivalent channel described in paragraph 7#a72 7ii7 the ,united ,states ,citizenship and ,immigration ,services ,national ,customer ,service ,center1 or any successor to that ,center2 or 7iii7 the ,united ,states ,citizenship and ,immigration ,services ,office of ,public ,engagement1 ,immigrant ,investor ,program ,office1 ,stakeholder ,engagement ,branch1 or any successors to those ,offices or ,branch4 7,b7 ,direction of incoming communications 7i7 ,in general ,employees of the ,department of ,homeland ,security shall direct communications described in subparagraph 7,a7 to the channels of communication or offices listed in subparagraph 7,a74 7ii7 ,rule of construction ,nothing in this subparagraph may be construed to prevent-- 7,i7 any person from communicating with the ,ombudsman of ,united ,states ,citizenship and ,immigration ,services regarding the immigrant investor program under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e772 or 7,,ii7 the ,ombudsman from resolving problems regarding such immigrant investor program pursuant to the authority granted under section #deb of the ,homeland ,security ,act of #bjjb 7#f ,u4,s4,c4 #bgb74 7,c7 ,log 7i7 ,in general ,the ,director of ,united ,states ,citizenship and ,immigration ,services shall maintain a written or electronic log of-- 7,i7 all communications described in subparagraph 7,a7 and communications from members of ,congress1 which shall reference the date1 time1 and subject of the communication1 and the identity of the ,department official1 if any1 to whom the inquiry was forwarded2 7,,ii7 with respect to written communications described in subsection 7c77#a71 the date the communication was received1 the identities of the sender and addressee1 and the subject of the communication2 and 7,,iii7 with respect to oral communications described in subsection 7c77#b71 the date on which the communication occurred1 the participants in the conversation or meeting1 and the subject of the communication4 7ii7 ,transparency ,the log of communications described in clause 7i7 shall be made publicly available in accordance with section #eeb of title #e1 ,united ,states ,code 7commonly known as the ,freedom of ,information ,act74 7#c7 ,publication of information ,if1 as a result of a communication with an official of the ,department of ,homeland ,security1 a person or entity inquiring about a specific case or generally about the immigrant visa program described in section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 received generally applicable and non-case specific information about program requirements or administration that has not been made publicly available by the ,department1 the ,director of ,united ,states ,citizenship and ,immigration ,services1 not later than #cj days after the communication of such information to such person or entity1 shall publish such information on the ,united ,states ,citizenship and ,immigration ,services ,web site as an update to the relevant ,frequently ,asked ,questions page or by some other comparable mechanism4 7f7 ,penalty 7#a7 ,in general ,any person who intentionally violates the prohibition on preferential treatment under this section or intentionally violates the reporting requirements under subsection 7c7 shall be disciplined in accordance with paragraph 7#b74 7#b7 ,sanctions ,not later than #ij days after the date of the enactment of this ,act1 the ,secretary of ,homeland ,security shall establish a graduated set of sanctions based on the severity of the violation referred to in paragraph 7#a71 which may include1 in addition to any criminal or civil penalties that may be imposed1 written reprimand1 suspension1 demotion1 or removal4 7g7 ,rule of construction ,nothing in this section may be construed to modify any law1 regulation1 or policy regarding the handling or disclosure of classified information4 7h7 ,no creation of private right of action ,nothing in this section may be construed to create or authorize a private right of action to challenge a decision of an employee of the ,department of ,homeland ,security4 #i4 ,reports 7a7 ,,gao report ,not later than ,december #ca1 #bjai1 the ,comptroller ,general of the ,united ,states shall submit a report to the ,committee on the ,judiciary of the ,senate and the ,committee on the ,judiciary of the ,house of ,representatives that describes-- 7#a7 the economic benefits of the regional center program established under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 including the steps taken by ,united ,states ,citizenship and ,immigration ,services to verify job creation2 7#b7 the extent to which ,united ,states ,citizenship and ,immigration ,services ensures compliance by regional center participants with their obligations under the immigrant investor program2 7#c7 the extent to which ,united ,states ,citizenship and ,immigration ,services has maintained records of regional centers and associated commercial enterprises1 including annual statements and certifications2 7#d7 the steps taken by ,united ,states ,citizenship and ,immigration ,services to verify the source of funds1 as required under section #bjc7;b77#e77;,d7 of the ,immigration and ,nationality ,act1 as added by section #b of this ,act2 7#e7 the extent to which ,united ,states ,citizenship and ,immigration ,services collaborates with other ,federal and law enforcement agencies1 particularly to detect illegal activity and threats to national security related to the regional center program2 7#f7 the extent to which ,united ,states ,citizenship and ,immigration ,services has prevented fraud and abuse in regional center activities1 including the designation of targeted employment areas in areas that otherwise have high employment2 7#g7 the extent to which ,united ,states ,citizenship and ,immigration ,services has used its authority to sanction1 suspend1 bar1 or terminate regional centers or individuals affiliated with regional centers2 7#h7 the steps that have been taken to oversee direct and third-party promoters under section #bjc7;b77#e77,n7 of the ,immigration and ,nationality ,act1 as added by section #c of this ,act2 7#i7 the extent to which employees of the ,department of ,homeland ,security have complied with the ethical standards and transparency requirements under section #h of this ,act2 and 7#aj7 an accounting of the expenditure of amounts from the ,,eb-#e ,integrity ,fund established under section #bjc7;b77#e77,m7 of the ,immigration and ,nationality ,act1 as added by section #c of this ,act4 7b7 ,inspector ,general report ,not later than ,december #ca1 #bjai1 the ,inspector ,general of the ,intelligence ,community1 in coordination with the ,inspector ,general of the ,department of ,homeland ,security and after consultation with relevant ,federal agencies1 including ,united ,states ,immigration and ,customs ,enforcement1 shall submit a report to the ,committee on the ,judiciary of the ,senate and the ,committee on the ,judiciary of the ,house of ,representatives concerning the immigrant visa program set forth in section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 that describes-- 7#a7 the vulnerabilities within the program that may undermine the national security of the ,united ,states2 7#b7 the actual or potential use of the program to facilitate export of sensitive technology2 7#c7 the actual or potential use of the program to facilitate economic espionage2 7#d7 the actual or potential use of the program by foreign government agents2 and 7#e7 the actual or potential use of the program to facilitate terrorist activity1 including funding terrorist activity or laundering terrorist funds4 7c7 ,review of job creation methodologies ,not later than #a year after the date of the enactment of this ,act1 the ,secretary of ,homeland ,security1 in consultation with the ,bureau of ,economic ,analysis of the ,department of ,commerce1 or another component within the ,department of ,commerce1 as determined by the ,secretary of ,commerce1 shall publish regulations to determine economically and statistically valid general economic methodologies that are in compliance with section #bjc7;b77#e77;,a77ii7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,a77ii774 7d7 ,report 7#a7 ,in general ,not later than #c years after the date of the enactment of this ,act1 the ,secretary of ,homeland ,security1 in coordination with the ,secretary of ,commerce and after consultation with relevant ,federal agencies1 shall submit a report to the ,committee on the ,judiciary of the ,senate and the ,committee on the ,judiciary of the ,house of ,representatives that describes1 with respect to the program under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77-- 7,a7 the percentage of completed and pending capital investment projects and the number of alien investors investing pursuant to such program in the ,states1 metropolitan and micropolitan statistical areas1 and counties in which such projects occurred in each fiscal year1 within the scope of business plans filed pursuant to section #bjc7;b77#e77;,i7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77;,i771 as added by this ,act1 both approved and awaiting approval-- 7i7 in rural areas2 7ii7 in rural areas where the median family income is #abe percent or more than the national average2 7iii7 in priority urban investment areas2 7iv7 for infrastructure projects2 7v7 for manufacturing projects2 and 7vi7 in areas that are not described in any of the clauses 7i7 through 7v72 7,b7 whether other ,federal financial assistance and tax incentive programs1 such as economic development programs administered by the ,department of ,agriculture1 the ,department of ,housing and ,urban ,development1 or the ,community ,development ,financial ,institutions ,fund1 are also used or available for use by projects described in subparagraph 7,a72 7,c7 7i7 what data is available to assess commuting patterns from high unemployment census tracts to project locations2 7ii7 whether the consideration of such commuting patterns may be an appropriate factor for targeted employment area designations2 and 7iii7 whether such data can be used to assess job creation in high unemployment census tracts2 7,d7 whether market demands to approve projects described in subparagraph 7,a7 exceed the number of visas allowed under section #bjc7;b77#e7 of the ,immigration and ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e772 7,e7 whether other metrics or ,federal data sets are available that capture underserved or undercapitalized communities that may provide an appropriate factor for targeted employment area designations2 and 7,f7 what data is available to assess the percentage of jobs created through the investor visa program that are held by persons who reside in census tracts that have an unemployment rate of at least #aej percent of the national average4 7#b7 ,public input ,not later than #fj days before the submission of the report required under paragraph 7#a71 the ,secretary of ,homeland ,security shall provide the public with notice and an opportunity to comment on the draft report4