,,ii #aae? ,,congress #a/ ,session ,s4 #gbg ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #bg1 #bjag,mr4 ,paul introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ! ,judici>y ,a ,,bill ,to increase ! worldwide level ( employm5t-bas$ immigrants & to reau?orize ! ,,eb-#e regional c5t] program4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,inve/ 9 ,our ,communities ,act4 #b4 ,exemption ( dep5d5ts f be+ c\nt$ t[>ds worldwide employm5t-bas$ immigration level ,section #bja7;b77#a7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaea7;b77#a77 is am5d$ by add+ at ! end ! foll[+3 7,f7 ,ali5s :o are sp\ses or *ildr5 ( an ali5 admitt$ z an employm5t-bas$ immigrant "u section #bjc7;b77#e74 4 #c4 ,worldwide level ( employm5t-bas$ immigrants ,section #bja7;d7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaea7;d77 is am5d$ to read z foll[s3 7d7 ,worldwide level ( employm5t-,bas$ immigrants 7#a7 ,9 g5]al ,! worldwide level ( employm5t-bas$ immigrants "u ?is subsection = a fiscal ye> is equal to ! sum (-- 7,a7 #aej1jjj2 & 7,b7 ! numb] comput$ "u p>agraph 7#b74 7#b7 ,adju/m5t ,! numb] comput$ "u ?is p>agraph = fiscal ye> #bjag & ea* subsequ5t fiscal ye> is ! diff]5ce 7if any7 betwe5-- 7,a7 ! maximum numb] ( visas au?oriz$ to be issu$ "u section #bjc7;a7 dur+ ! previ\s fiscal ye>2 & 7,b7 ! numb] ( visas issu$ "u t section dur+ t ye>4 4 #d4 ,exclusion ( ,,eb-#e visas f c\ntry caps ,section #bjb7;a77#e7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaeb7;a77#e77 is am5d$ by add+ at ! end ! foll[+3 7,c7 ,exclusion ( ,,eb-#e visas f p] c\ntry limitation ,visas issu$ "u section #bjc7;b77#e7 %all n be c\nt$ t[>d ! num]ical limitation "u p>agraph 7#b74 4 #e4 ,p]man5t reau?orization ( employm5t creation regional c5t]s ,section #bjc7;b77#e7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 is am5d$-- 7#a7 by r$esignat+ subp>agraph 7,d7 z subp>agraph 7,h72 & 7#b7 by ins]t+ aft] subp>agraph 7,c7 ! foll[+3 7,d7 ,employm5t creation regional c5t]s 7i7 ,9 g5]al ,visas "u ?is p>agraph %all be made available to qualifi$ immigrants :o p>ticipate 9 a program involv+ a regional c5t] 9 ! ,unit$ ,/ates1 :i* has be5 designat$ by ! ,secret>y ( ,homel& ,security1 9 consultation ) ! ,secret>y ( ,comm]ce1 on ! basis ( a g5]al proposal fil$ ) ! ,secret>y ( ,homel& ,security1 = ! promotion ( economic gr[?1 includ+-- 7,i7 increas$ exports2 7,,ii7 improv$ regional productivity2 7,,iii7 job creation2 & 7,,iv7 increas$ dome/ic capital inve/m5t4 7ii7 ,jurisdiction ,a regional c5t] %all h jurisdiction ov] a specific geographic area1 :i* %all be-- 7,i7 describ$ 9 ! proposal fil$ "u clause 7i72 & 7,,ii7 consi/5t ) ! purpose ( conc5trat+ pool$ inve/m5t 9 def9$ economic zones4 7iii7 ,g5]al pr$ictions ,! e/abli%m5t ( a regional c5t] "u ?is subp>agraph may be bas$ on g5]al pr$ictions conta9$ 9 ! proposal conc]n+-- 7,i7 ! k9ds ( new comm]cial ent]prises t w receive capital f ali5s2 7,,ii7 ! jobs t w be creat$ directly or indirectly z a result ( su* inve/m5ts2 & 7,,iii7 o!r positive economic effects su* inve/m5ts w h4 7iv7 ,me?odologies = det]m9+ job creation ,not)/&+ requirem5ts applicable to inve/ors n involv$ 9 a regional c5t]1 9 det]m9+ compliance ) ?is subp>agraph1 ! ,secret>y ( ,homel& ,security %all recognize reasonable me?odologies = det]m9+ ! numb] ( jobs creat$ by a designat$ regional c5t]1 includ+ jobs t are e/imat$ to h be5 creat$ indirectly ?r\gh rev5ues g5]at$ f-- 7,i7 increas$ exports2 7,,ii7 improv$ regional productivity2 or 7,,iii7 increas$ dome/ic capital inve/m5t result+ f ! regional c5t]4 7v7 ,special proc$ures 7,i7 ,preapproval ( new comm]cial ent]prises ,! ,secret>y ( ,homel& ,security %all e/abli% a preapproval proc$ure = new comm]cial ent]prises t-- 7aa7 all[s a regional c5t] or pot5tial regional c5t] to apply to ! ,secret>y = preapproval ( a new comm]cial ent]prise be=e any ali5 files a petition = classification "u ?is p>agraph by reason ( inve/m5t 9 ! new comm]cial ent]prise2 7bb7 all[s ! applicant to address & cure any defici5cies id5tifi$ by ! ,secret>y 9 ! application be=e a f9al det]m9ation on ! application2 7cc7 requires t ! ,secret>y make f9al decisions on all issues "u ?is p>agraph o!r ?an ^? issues unique to ea* individual inve/or 9 ! new comm]cial ent]prise2 & 7dd7 requires t ! ,secret>y elim9ate ! ne$ = ! repeat$ submission ( docum5tation t is common to multiple petitions = classification "u ?is p>agraph ?r\gh a regional c5t]4 7,,ii7 ,def]5ce to prior rul+s ,abs5t mat]ial *ange1 fraud1 or legal defici5cy1 ! ,secret>y ( ,homel& ,security %all give def]5ce to1 & n revisit1 favorable det]m9ations made p]ta9+ to a comm]cial ent]prise dur+ ! adjudication (-- 7aa7 petitions fil$ by immigrants inve/+ 9 ! comm]cial ent]prise "u ?is subp>agraph2 & 7bb7 petitions fil$ by su* immigrants "u section #baf;,a = ! removal ( conditional basis4 7vi7 ,process+ times 7,i7 ,9 g5]al ,! ,secret>y ( ,homel& ,security %all make det]m9ations on a proposal fil$ "u clause 7i7 or an application fil$ "u clause 7v7 n lat] ?an #ahj days aft] ! date on :i* ! proposal or application is fil$4 7,,ii7 ,additional in=mation ,if ! ,secret>y det]m9es t an initial fil+ "u ?is section does n meet ! /&>ds = approval1 ! ,secret>y %all-- 7aa7 n lat] ?an #cj days aft] ! date ( su* fil+1 notify ! applicant ( ! reasons su* proposal or application 0 n approv$ & ! additional in=mation or docum5tation t is requir$ = approval2 7bb7 p]mit ! applicant to promptly resubmit a modifi$ fil+2 & 7cc7 adjudicate ! modifi$ proposal or application n lat] ?an #cj days aft] x is receiv$4 4 #f4 ,security re=ms ,section #bjc7;b77#e7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e77 is am5d$ by ins]t+ aft] subp>agraph 7,d71 z add$ by section #e1 ! foll[+3 7,e7 ,appellate rights 7i7 ,9 g5]al ,any p]son subject to ! susp5sion or t]m9ation ( rights "u ?is p>agraph1 if su* decision 0 "u ! discretion ( ! ,secret>y ( ,homel& ,security1 may appeal su* decision & be entitl$ to a he>+ be=e an adm9i/rative law judge4 7ii7 ,appellant's rights ,an appellant "u ?is subp>agraph has ! "r-- 7,i7 to access ! facts & docum5tation und]ly+ ! allegations t are ! basis ( ! susp5sion or t]m9ation ref]r$ to 9 clause 7i72 & 7,,ii7 to cross-exam9e witnesses dur+ proce$+s4 7iii7 ,burd5 ( pro( ,9 a he>+ "u ?is subp>agraph1 ! ,secret>y has ! burd5 to prove1 by a prepond]ance ( ! evid5ce1 t ! susp5sion or t]m9ation 0 valid "u applicable law4 7iv7 ,f9ality ,a det]m9ation ( ! adm9i/rative law judge 9 an appeal "u ?is subp>agraph %all be f9al & may n be subject to judicial review4 4 #g4 ,regional c5t]s 7a7 ,9 g5]al ,section #bjc7;b77#e7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaec7;b77#e771 z am5d$ by sections #e & #f1 is fur!r am5d$ by ins]t+ aft] subp>agraph 7,e7 ! foll[+3 7,f7 ,bona fides ( p]sons associat$ ) regional c5t]s or regional c5t] associat$ comm]cial ent]prises 7i7 ,9 g5]al ,no p]son %all be p]mitt$ by any regional c5t] or regional c5t] associat$ comm]cial ent]prise to be directly or indirectly involv$ ) ! regional c5t] or comm]cial ent]prise z its pr9cipal1 repres5tative1 adm9i/rator1 own]1 (fic]1 bo>d memb]1 manag]1 executive1 g5]al p>tn]1 fiduci>y1 m>ket]1 promot]1 or o!r simil> position ( sub/antive au?ority = ! op]ations1 managem5t1 or promotion ( ! regional c5t] or comm]cial ent]prise if-- 7,i7 ! p]son has be5 f\nd liable )9 ! previ\s five ye>s = any crim9al or civil violation ( any law relat+ to fraud or deceit1 or at any "t if su* violation involv$ a civil liability 9 excess ( #a1jjj1jjj1 a crim9al conviction ) a t]m ( imprisonm5t ( m ?an "o ye> or a crim9al or civil violation ( any law or ag5cy regulation 9 connection ) ! (f]1 pur*ase1 or sale ( a security2 7,,ii7 ! p]son is subject to a f9al ord] ( a ,/ate securities commission 7or an ag5cy or (fic] ( a ,/ate :o p]=ms simil> functions71 a ,/ate au?ority t sup]vises or exam9es banks1 sav+s associations1 or cr$it unions1 a ,/ate insurance commission 7or an ag5cy ( or (fic] ( a ,/ate :o p]=ms simil> functions71 an appropriate ,f$]al bank+ ag5cy1 ! ,commodity ,futures ,trad+ ,commission1 or ! ,national ,cr$it ,union ,adm9i/ration1 :i* is bas$ on a violation ( any law or regulation t-- 7aa7 prohibits fraudul5t1 manipulative1 or deceptive conduct2 or 7bb7 b>s ! p]son f-- 7,,aa7 association ) an entity regulat$ by su* commission1 au?ority1 ag5cy1 or (fic]2 7,,bb7 engag+ 9 ! bus9ess ( securities1 insurance1 or bank+2 or 7,,cc7 engag+ 9 sav+s association or cr$it union activities2 7,,iii7 ! p]son has be5 convict$ (-- 7aa7 any activity relat+ to espionage1 sabotage1 or !ft ( intellectual prop]ty2 7bb7 any activity relat$ to money laund]+ 7z describ$ 9 section #aief or #aieg ( title #ah1 ,unit$ ,/ates ,code72 7cc7 any t]rori/ activity 7z def9$ 9 clauses 7iii7 & 7iv7 ( section #bab7;a77#c77;,b772 or 7dd7 any activity relat$ to human traffick+ or a human rights (f5se2 or 7,,iv7 ! p]son-- 7aa7 is1 or dur+ ! prec$+ #e ye>s has be51 includ$ on ! ,dep>tm5t ( ,ju/ice's ,li/ ( ,curr5tly ,discipl9$ ,practition]s2 or 7bb7 dur+ ! prec$+ #e ye>s1 has receiv$ a reprim& or o!rwise be5 publicly discipl9$ by a b> association ( :i* ! p]son is or 0 a memb]4 7ii7 ,/atus ( regional c5t] pr9cipals 7,i7 ,lawful /atus requir$ ,no p]son may be directly or indirectly involv$ ) a regional c5t] z its pr9cipal1 adm9i/rator1 own]1 (fic]1 bo>d memb]1 manag]1 executive1 g5]al p>tn]1 fiduci>y1 or o!r simil> position ( significant au?ority = ! op]ations or managem5t ( ! regional c5t] unless ! p]son is a national ( ! ,unit$ ,/ates or an individual :o has be5 lawfully admitt$ = p]man5t resid5ce4 7,,ii7 ,=eign gov]nm5ts ,no =eign gov]nm5t entity may be directly or indirectly involv$ ) ! own]%ip or adm9i/ration ( a regional c5t]4 7iii7 ,in=mation requir$ ,! ,secret>y ( ,homel& ,security %all require su* atte/ations & in=mation1 includ+ ! submission ( f+]pr9ts or o!r biometrics to ! ,f$]al ,bureau ( ,inve/igation1 & %all p]=m su* crim9al record *ecks & o!r backgr\nd *ecks ) respect to a regional c5t] or regional c5t] associat$ comm]cial ent]prise1 & p]sons involv$ 9 a regional c5t] or regional c5t] associat$ comm]cial ent]prise1 to det]m9e :e!r su* regional c5t] or regional c5t] associat$ comm]cial ent]prise is 9 compliance ) clauses 7i7 & 7ii74 7iv7 ,t]m9ation ,! ,secret>y %all t]m9ate any regional c5t] or regional c5t] associat$ comm]cial ent]prise f ! regional c5t] program if ! ,secret>y det]m9es t-- 7,i7 ! regional c5t] or regional c5t] associat$ comm]cial ent]prise has violat$ clause 7i72 7,,ii7 ! regional c5t] has violat$ clause 7ii72 or 7,,iii7 ! regional c5t]1 a regional c5t] associat$ comm]cial ent]prise1 or any p]son involv$ ) ! regional c5t] or regional c5t] associat$ comm]cial ent]prise-- 7aa7 fails to provide an atte/ation or in=mation reque/$ by ! ,secret>y2 7bb7 provides any false atte/ation or in=mation "u clause 7iii72 7cc7 has engag$ 9 fraud1 misrepres5tation1 or crim9al misuse2 or 7dd7 poses a ?reat to public safety or national security4 7,g7 ,compliance ) securities laws 7i7 ,jurisdiction ,9 view ( ! objective ( promot+ inve/m5t 9 ! ,unit$ ,/ates1 9 an action fil$ by ! ,securities & ,ex*ange ,commission1 ! pur*ase or sale ( securities (f]$ or sold by any regional c5t] or any p>ty associat$ ) a regional c5t] %all be deem$ to h occurr$ )9 ! t]ritory ( ! ,unit$ ,/ates = purposes ( ! securities laws1 & subject matt] jurisdiction %all also lie )9 ! ,unit$ ,/ates4 7ii7 ,regional c5t] c]tifications requir$ 7,i7 ,initial c]tification ,! ,secret>y ( ,homel& ,security may n approve an application = regional c5t] designation or regional c5t] am5dm5t unless ! regional c5t] c]tifies t ! regional c5t] is 9 compliance ) & has policies & proc$ures reasonably design$ to ensure t all p>ties associat$ ) ! regional c5t] rema9 9 compliance ) ! securities laws ( ! ,unit$ ,/ates & ( any ,/ate 9 :i* ! regional c5t] op]ates 9 connection ) ! (f]1 pur*ase1 or sale ( securities or ! provision ( inve/m5t advice by ! regional c5t] or p>ties associat$ ) ! regional c5t]4 7,,ii7 ,reissue ,a regional c5t] %all annually reissue a c]tification describ$ 9 subclause 7,i74 ,annual c]tifications "u ?is subclause %all c]tify compliance ) clause 7iii7 by /at+ t-- 7aa7 ! c]tifi] is 9 a position to h k ( ! (f]s1 pur*ases1 & sales ( securities or ! provision ( inve/m5t advice by p>ties associat$ ) ! regional c5t]2 & 7bb7 to ! be/ ( ! c]tifi]'s k1 aft] reasonable inve/igation-- 7,,aa7 all su* (f]s1 pur*ases1 & sales ( securities or ! provision ( inve/m5t advice compli$ ) securities laws ( ! ,unit$ ,/ates2 & 7,,bb7 records1 data1 & in=mation relat$ to su* (f]s1 pur*ases1 & sales h be5 ma9ta9$4 7,,iii7 ,effect ( noncompliance ,if a regional c5t]1 ?r\gh its due dilig5ce1 discov]$ dur+ ! previ\s fiscal ye> t ! regional c5t] or any p>ty associat$ ) ! regional c5t] 0 n 9 compliance ) ! securities laws ( ! ,unit$ ,/ates1 ! c]tifi] %all-- 7aa7 describe ! activities t l$ to noncompliance2 7bb7 describe ! actions tak5 to rem$y ! noncompliance2 & 7cc7 c]tify t ! regional c5t] & all p>ties associat$ ) ! regional c5t] are curr5tly 9 compliance4 7iii7 ,ov]sight requir$ ,ea* regional c5t] %all-- 7,i7 monitor & sup]vise all (f]s1 pur*ases1 & sales (1 & advice relat+ to1 securities made by p>ties associat$ ) ! regional c5t] to ensure compliance ) ! securities laws ( ! ,unit$ ,/ates2 7,,ii7 ma9ta9 records1 data1 & in=mation relat+ to all su* (f]s1 pur*ases1 sales1 & advice dur+ ! #e-ye> p]iod beg9n+ on ! date ( _! creation2 & 7,,iii7 make su* records1 data1 & in=mation available to ! ,securities & ,ex*ange ,commission & to ! ,secret>y ^u ! receipt ( a subpo5a f ! ,securities & ,ex*ange ,commission4 7iv7 ,susp5sion or t]m9ation ,! ,secret>y1 9 ! ,secret>y's unreviewable discretion1 %all susp5d or t]m9ate ! designation ( any regional c5t] t does n provide ! c]tification describ$ 9 clause 7ii74 ,! ,secret>y1 9 ! ,secret>y's unreviewable discretion1 may susp5d or t]m9ate ! designation ( any regional c5t] or impose o!r sanctions aga9/ ! regional c5t] if ! regional c5t] or any p>ties associat$ ) ! regional c5t]-- 7,i7 are p]man5tly or tempor>ily enjo9$ by ord]1 judgm5t1 or decree ( any c\rt ( compet5t jurisdiction 9 connection ) ! (f]1 pur*ase1 or sale ( a security or ! provision ( inve/m5t advice2 7,,ii7 are subject to any f9al ord] ( ! ,securities & ,ex*ange ,commission t-- 7aa7 b>s su* p]son f association ) an entity regulat$ by ! ,securities & ,ex*ange ,commission2 or 7bb7 con/itutes a f9al ord] bas$ on violations 9 connection ) ! (f]1 pur*ase1 or sale (1 or advice relat+ to1 a security2 or 7,,iii7 kn[+ly submitt$ or caus$ to be submitt$ a c]tification describ$ 9 clause 7ii7 t conta9$ an untrue /atem5t ( a mat]ial fact or omitt$ to /ate a mat]ial fact necess>y 9 ord] to make ! /atem5ts made1 9 light ( ! circum/ances "u :i* !y 7 made1 n mislead+4 7v7 ,sav+s provision ,no?+ 9 ?is subp>agraph may be con/ru$ to impair or limit ! au?ority ( ! ,securities & ,ex*ange ,commission "u ! ,f$]al securities laws4 7vi7 ,def9$ t]m ,9 ?is subp>agraph1 ! t]m p>ties associat$ ) a regional c5t] means-- 7,i7 ! regional c5t]2 7,,ii7 any comm]cial ent]prise associat$ ) ! regional c5t]2 7,,iii7 ! regional c5t]'s & associat$ comm]cial ent]prise's own]s1 (fic]s1 directors1 manag]s1 p>tn]s1 brok]-deal]s1 employees1 & attorneys2 & 7,,iv7 any p]son 9 active conc]t or p>ticipation ) ! regional c5t] or directly or indirectly controll+1 controll$ by1 or "u common control ) ! regional c5t]4 4 7b7 ,/udy & report 7#a7 ,9 g5]al ,n lat] ?an two ye>s aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,homel& ,security1 9 coord9ation ) ! ,secret>y ( ,comm]ce & aft] consultation ) relevant ,f$]al ag5cies1 %all submit a report to ! ,committee on ! ,judici>y ( ! ,s5ate & ! ,committee on ! ,judici>y ( ! ,h\se ( ,repres5tatives t describes-- 7,a7 ! p]c5tage ( complet$ & p5d+ capital inve/m5t projects1 )9 ! scope ( bus9ess plans approv$ or await+ approval-- 7i7 9 t>get$ rural employm5t areas2 7ii7 9 t>get$ high unemploym5t areas2 7iii7 9 high pov]ty areas2 7iv7 = infra/ructure projects2 & 7v7 n includ$ 9 ! areas describ$ 9 clauses 7i7 ?r\gh 7iii72 7,b7 :e!r o!r ,f$]al f9ancial assi/ance programs1 su* z economic developm5t programs adm9i/]$ by ! ,dep>tm5t ( ,agriculture1 ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 or ! ,community ,developm5t ,f9ancial ,in/itutions ,fund1 are also us$ or int5d$ to support projects describ$ 9 subp>agraph 7,a72 & 7,c7 :e!r m>ket dem&s to approve projects describ$ 9 subp>agraph 7,a7 exce$ ! numb] ( visas all[$ "u section #bjc7;b77#e77;,f7 ( ! ,immigration & ,nationality ,act1 z add$ by subsection 7a74 7#b7 ,public input ,n lat] ?an #fj days be=e ! submission ( ! report requir$ "u p>agraph 7#a71 ! public %all receive notice & an opportunity to comm5t4 #h4 ,age det]m9ation = *ildr5 ( ali5 inve/ors ,section #bjc7;h7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaec7;h77 is am5d$ by add+ at ! end ! foll[+3 7#e7 ,age det]m9ation = *ildr5 ( ali5 inve/ors 7,a7 ,9 g5]al ,subject to subp>agraph 7,b71 an ali5 admitt$ "u subsection 7d7 z a lawful p]man5t resid5t on a conditional basis z ! *ild ( an ali5 lawfully admitt$ = p]man5t resid5ce "u subsection 7b77#e71 ^: lawful p]man5t resid5t /atus on a conditional basis is t]m9at$ "u section #baf;,a1 %all cont9ue to be consid]$ a *ild ( ! pr9cipal ali5 = ! purpose ( a subsequ5t immigrant petition by su* ali5 "u subsection 7b77#e7 if-- 7i7 ! ali5 rema9s unm>ri$2 & 7ii7 ! subsequ5t petition is fil$ by ! pr9cipal ali5 n lat] ?an "o ye> aft] ! t]m9ation ( conditional lawful p]man5t resid5t /atus4 7,b7 ,exception ,an ali5 %all n be consid]$ a *ild "u ?is p>agraph ) respect to m ?an "o petition fil$ aft] ! ali5 rea*es #ba ye>s ( age4 4