,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bggh  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #e1 #bjai,mr4 
,r\nds 7= himself1 ,mr4 ,graham1 & ,mr4 
,cornyn7 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on !
 ,judici>y  ,a ,,bill  ,to re=m !       
,,eb-#e ,immigrant ,inve/or ,program1 & 
= o!r purposes4  #a4 ,%ort title2 table 
( cont5ts  7a7 ,%ort title ,?is ,act may
 be cit$ z ! ,immigrant ,inve/or        
,program ,re=m ,act4  7b7 ,table (      
cont5ts ,! table ( cont5ts = ?is ,act is
 z foll[s3 ,sec4 #a4 ,%ort title2 table 
( cont5ts4,sec4 #b4 ,inve/ 9 ,am]ican   
job creation4,sec4 #c4 ,transp>5cy4,sec4
 #d4 ,treatm5t ( p]iod = purposes (     
naturalization4,sec4 #e4 ,concurr5t fil+
 ( ,,eb-#e petitions & applications =   
adju/m5t ( /atus4,sec4 #f4 ,p>ole /atus 
= petition]s & dep5d5ts await+          
availability ( an immigrant visa4  #b4  
,inve/ 9 ,am]ican job creation  7a7 ,9  
g5]al ,section #bjc7;b77#e7 ( !         
,immigration & ,nationality ,act 7#h    

,u4,s4,c4 #aaec7;b77#e77 is am5d$ to    
read z foll[s3  7#e7 ,employm5t creation
  7,a7 ,9 g5]al ,visas %all be made     
available1 9 a numb] n to exce$ #g4a    
p]c5t ( su* worldwide level1 to qualifi$
 immigrants seek+ to ent] ! ,unit$      
,/ates = ! purpose ( inve/+ 9 a new     
comm]cial ent]prise1 directly or 9 a new
 comm]cial ent]prise associat$ ) a      
regional c5t] "u subp>agraph 7,b7--  7i7
 9 :i* su* ali5 has inve/$ or1 is       
actively 9 ! process ( inve/+1 capital 9
 an am\nt n less ?an ! am\nt specifi$ 9 
subp>agraph 7,d72 &  7ii7 t w b5efit !  
,unit$ ,/ates economy & create full-"t  
employm5t = n few] ?an #aj ,unit$ ,/ates
 citiz5s or ali5s lawfully admitt$ =    
p]man5t resid5ce or o!r immigrants      
lawfully au?oriz$ to be employ$ 9 !     
,unit$ ,/ates 7o!r ?an ! immigrant & !  
immigrant's sp\se1 sons1 or daught]s74  
7,b7 ,regional c5t] program ,visas made 
available "u subp>agraph 7,a7 %all be   
made available ?r\gh ,septemb] #cj1     
#bjbe1 to qualifi$ immigrants pool+ _!  

inve/m5ts ) #a or m additional qualifi$ 
immigrants 9 a new comm]cial ent]prise  
associat$ ) a regional c5t] 9 ! ,unit$  
,/ates t has be5 designat$ by !         
,secret>y ( ,homel& ,security on ! basis
 ( a proposal = ! promotion ( economic  
gr[?1 includ+ prospective job creation &
 increas$ dome/ic capital inve/m5t4     
7,c7 ,res]vation = t>get$ employm5t     
areas  7i7 ,9 g5]al ,( ! numb] ( visas  
allocat$ "u subp>agraph 7,a71 #cj p]c5t 
%all be res]v$ 9 ea* fiscal ye> be=e    
fiscal ye> #bjbf = qualifi$ immigrants  
:o inve/ 9 a new comm]cial ent]prise 9 a
 t>get$ employm5t area1 ( :i* #ej p]c5t 
%all be res]v$ = rural areas4  7ii7     
,unus$ visas ,at ! end ( ea* fiscal ye>1
 any unus$ visa numb]s t 7 res]v$ "u ?is
 subp>agraph %all be made g5]ally       
available 9 ! next fiscal ye> to        
immigrants :o h fil$ applications =     
classification z an immigrant inve/or "u
 subp>agraph 7,a74  7,d7 ,am\nt (       
capital requir$  7i7 ,9 g5]al ,except z 
o!rwise provid$ 9 ?is subp>agraph1 !    

am\nt ( capital requir$ "u subp>agraph  
7,a7 %all be #a1ajj1jjj4  7ii7 ,m9imum  
inve/m5t = t>get$ employm5t areas       
,subject to clause 7iii71 ! am\nt (     
capital requir$ "u subp>agraph 7,a7 9 ! 
case ( a t>get$ employm5t area %all be  
#a1jjj1jjj4  7iii7 ,program improvem5t  
fee ,ea* immigrant inve/or %all pay1 to 
! ,treasury ( ! ,unit$ ,/ates1 a program
 improvem5t fee ( #ej1jjj 9 conjunction 
) ea* ,i-#ebf petition submitt$ "u ?is  
p>agraph aft] ! date ( ! enactm5t ( !   
,immigrant ,inve/or ,program ,re=m ,act4
  7iv7 ,adju/m5t ( requir$ capital  7,i7
 ,automatic adju/m5t ,beg9n+ on ,octob] 
#a1 #bjbb & e #c ye>s !reaft]1 !        
qualify+ inve/m5t am\nts "u clauses 7i7 
& 7ii7 %all be automatically adju/$ bas$
 on ! cumulative annual p]c5tage *ange 9
 ! unadju/$ ,all ,items ,consum] ,price 
,index = ,all ,urban ,consum]s          
7,,cpi-,u7 = ! ,u4,s4 ,city ,av]age     
report$ by ! ,bureau ( ,labor ,/ati/ics 
comp>$ to su* am\nts 9 ,septemb] #bjai4 
,! qualify+ inve/m5t am\nt w be r\nd$   

d[n to ! ne>e/ #ajj1jjj4  7,,ii7 ,notice
 ( adju/m5t  7aa7 ,9 g5]al ,imm$iately  
aft] ea* adju/m5t "u subclause 7,i71 !  
,secret>y ( ,homel& ,security %all      
publi% a te*nical am5dm5t 9 ! ,f$]al    
,regi/] t includes ! am\nts set =? 9    
clauses 7i7 & 7ii71 z adju/$ by         
subclause 7,i74  7bb7 ,applicability    
,any petition = classification ( an ali5
 z an immigrant inve/or "u ?is p>agraph 
t is fil$ on or aft] ,octob] #a 9 ! ye> 
an automatic adju/m5t to ! m9imum       
qualify+ inve/m5t am\nt occurs "u       
subclause 7,i7 %all be subject to su*   
adju/$ am\nt4  7,e7 ,regional c5t]      
program  7i7 ,process+  7,i7 ,9 g5]al ,9
 process+ petitions "u section          
#bjd7;a77#a77;,h7 = classification "u   
?is p>agraph1 ! ,secret>y ( ,homel&     
,security--  7aa7 may process petitions 
9 a mann] & ord] e/abli%$ by !          
,secret>y2 &  7bb7 %all deem su*        
petitions to include records previ\sly  
fil$ ) ! ,secret>y "u subp>agraph 7,f7  
if ! ali5 petition] c]tifies t su*      

records are incorporat$ by ref]5ce into 
! ali5's petition4  7,,ii7 ,priority ,9 
process+ applications = designation z a 
regional c5t]1 am5dm5ts1 specific       
inve/m5t (f]+s1 & annual c]tifications  
submitt$ "u ?is p>agraph1 ! ,secret>y   
may give priority1 ^u ! paym5t ( a      
#ej1jjj premium process+ fee1 to su*    
applications & c]tifications1 not)/&+   
o!r p5d+ applications or petitions fil$ 
"u o!r employm5t-bas$ visa categories4  
7,,iii7 ,premium process+ ( eb-#e       
regional c5t] applications  7aa7 ,9     
g5]al ,an entity seek+ designation z an 
,,eb-#e regional c5t] or an am5dm5t ( a 
previ\sly approv$ regional c5t] may1 ^u 
! paym5t ( a #ej1jjj premium process+   
fee1 reque/ t ! ,secret>y process !     
application )9 #abj days4  7bb7         
,response to premium process+ reque/ ,if
 ! ,secret>y _c r5d] a f9al decision on 
! application or petition = :i* premium 
process+ 0 reque/$1 z evid5c$ by an     
approval notice or d5ial notice1 !      
,secret>y %all refund ! premium process+

 fee4  7,,iv7 ,exp$it$ process+ ( t>get$
 employm5t area petitions ,a petition   
relat+ to a project 9 a t>get$ employm5t
 area1 includ+ individual inve/or       
petitions1 w be subject to exp$it$      
review )\t paym5t ( an additional       
premium process+ fee4  7ii7 ,e/abli%m5t 
( regional c5t]s ,a regional c5t] %all  
op]ate )9 a def9$1 contigu\s1 & limit$  
geographic area1 :i* %all be describ$ 9 
! proposal & be consi/5t ) ! purpose (  
conc5trat+ pool$ inve/m5t )9 su* area4  
,! proposal to e/abli% a regional c5t]  
%all--  7,i7 demon/rate t ! pool$       
inve/m5t w h a significant economic     
impact on su* geographic area2  7,,ii7  
include reasonable pr$ictions1 support$ 
by economically & /ati/ically valid     
=eca/+ tools1 conc]n+--  7aa7 ! am\nt ( 
inve/m5t t w be pool$2  7bb7 ! types (  
comm]cial ent]prises t w receive su*    
inve/m5ts2  7cc7 ! details ( ! jobs t w 
be creat$ directly or indirectly z a    
result ( su* inve/m5ts2 &  7dd7 o!r     
positive economic effects su* inve/m5ts 

w h2 &  7,,iii7 include a description ( 
! policies & proc$ures t are reasonably 
design$ to ensure program compliance2 & 
7,,iv7 include a description ( !        
policies & proc$ures 9 place t are      
reasonably design$ to monitor new       
comm]cial ent]prises1 ?ird-p>ty promot]s
 7includ+ migration ag5ts71 & any       
affiliat$ job-creat+ entity to ensure   
compliance )--  7aa7 all applicable     
laws1 regulations1 & executive ord]s ( !
 ,unit$ ,/ates1 includ+ immigration     
laws1 crim9al laws1 & securities laws2 &
  7bb7 all securities laws ( ea* ,/ate 9
 :i* securities (f]+s w be conduct$1    
inve/m5t advice w be r5d]$1 or ! (f]ors 
or (f]ees reside4  7iii7 ,job creation  
7,i7 ,9 g5]al ,9 det]m9+ compliance )   
subp>agraph 7,a77ii71 ! ,secret>y (     
,homel& ,security %all p]mit ali5s seek+
 admission bas$ on an inve/m5t 9 a new  
comm]cial ent]prise associat$ ) a       
regional c5t] "u ?is subp>agraph to rely
 on economically & /ati/ically valid    
me?odologies = det]m9+ ! numb] ( jobs   

creat$ by ! program1 includ+--  7aa7    
jobs e/imat$ to h be5 creat$ directly1  
:i* may be v]ifi$ us+ su* me?odologies1 
provid$ t ! ,secret>y may reque/        
additional evid5ce to v]ify t ! directly
 creat$ jobs satisfy ! requirem5ts "u   
subp>agraph 7,a77ii72 &  7bb7 consi/5t )
 ?is subp>agraph1 jobs e/imat$ to h be5 
creat$ indirectly ?r\gh rev5ues g5]at$ f
 increas$ exports1 improv$ regional     
productivity1 job creation1 & increas$  
dome/ic capital inve/m5t result+ f !    
program4  7iv7 ,am5dm5ts ,! ,secret>y ( 
,homel& ,security %all-- 7,i7 require   
regional c5t]s to provide #abj days     
advance notice to ! ,secret>y (         
significant propos$ *anges to _!        
organizational /ructure1 own]%ip1 or    
adm9i/ration1 includ+ ! sale ( su* c5t]s
 or o!r arrangem5ts 9 :i* individuals n 
previ\sly subject to ! requirem5ts "u   
subp>agraph 7,h7 become involv$ ) !     
regional c5t]1 be=e any su* propos$     
*anges may take effect unless exig5t    
circum/ances are pres5t 9 :i* case !    

regional c5t] %all provide notice to !  
,secret>y n lat] ?an #e bus9ess days    
aft] su* *ange2 &  7,,ii7 not)/&+ !     
p5d5cy ( a det]m9ation describ$ 9       
subclause 7,,ii71 adjudicate bus9ess    
plans "u subp>agraph 7,f7 & petitions "u
 section #bjd7;a77#a77;,h74  7v7        
,sanctions  7,i7 ,violations ,!         
,secret>y %all sanction a regional c5t]1
 9 accordance ) subclause 7,,ii71 if--  
7aa7 ! regional c5t] fails to submit an 
annual /atem5t1 atte/ation1             
c]tification1 or o!r in=mation requir$  
"u ?is p>agraph2  7bb7 ! regional c5t]  
fails to pay ! fee requir$ "u           
subp>agraph 7,j77ii7 )9 #cj days aft] ! 
date on :i* su* fee is due or1 aft] be+ 
f9$1 fails to pay ! f9e )9 #ij days aft]
 ! date on :i* su* f9e is due2  7cc7 !  
,secret>y det]m9es t ! regional c5t]    
kn[+ly submitt$1 or caus$ to be         
submitt$1 a /atem5t1 atte/ation1        
c]tification1 or any o!r in=mation "u   
?is p>agraph t conta9$ an untrue /atem5t
 ( mat]ial fact or omitt$ to /ate a     

mat]ial fact necess>y 9 ord] to make !  
/atem5t1 atte/ation1 c]tification or    
provision ( in=mation1 9 light ( !      
circum/ances "u :i* !y 7 made1 n        
mislead+2  7dd7 ! ,secret>y det]m9es a  
p]son involv$ ) ! regional c5t]1 an     
associat$ new comm]cial ent]prise1 or   
any affiliat$ job-creat+ entity 0 kn[+ly
 involv$ by ! regional c5t] 9 violation 
( subp>agraph 7,h72 or  7ee7 ! ,secret>y
 det]m9es t ! regional c5t] is o!rwise  
conduct+ itself 9 a mann] inconsi/5t )  
its designation1 includ+-- 7,,aa7       
conduct t fails to demon/rate t !       
regional c5t] is op]at+ reliably or )   
integrity2 7,,bb7 failure to promote    
economic gr[? 9 compliance ) ?is        
p>agraph2 or 7,,cc7 any willful1        
undisclos$1 & mat]ial deviation by new  
comm]cial ent]prises f any fil$ bus9ess 
plan = su* comm]cial ent]prises4  7,,ii7
 ,au?oriz$ sanctions ,! ,secret>y %all  
e/abli% a graduat$ set ( sanctions bas$ 
on ! sev]ity ( ! violations ref]r$ to 9 
subclause 7,i71 includ+ #a or m ( !     

foll[+3  7aa7 ,f9es equal to n m ?an #aj
 p]c5t ( ! total capital inve/$ by ali5 
inve/ors 9 ! regional c5t]'s new        
comm]cial ent]prises or job-creat+      
entities1 :i*-- 7,,aa7 may n be paid f  
any ( su* ali5 inve/or's capital        
inve/m5ts2 & 7,,bb7 %all be deposit$    
into ! ,,eb-#e ,integrity ,fund e/abli%$
 "u subp>agraph 7,j77i74  7bb7 ,tempor>y
 susp5sion f p>ticipation 9 ! regional  
c5t] program1 :i* may be lift$ by !     
,secret>y if ! individual or entity     
cures ! alleg$ violation aft] be+       
provid$ su* an opportunity by !         
,secret>y4  7cc7 ,p]man5t b> f program  
p>ticipation = #a or m individuals or   
entities associat$ ) ! regional c5t] or 
new comm]cial ent]prise or affiliat$    
job-creat+ entity4  7dd7 ,t]m9ation ( ! 
regional c5t] designation4  7,f7        
,application = approval ( an inve/m5t 9 
a comm]cial ent]prise  7i7 ,9 g5]al ,!  
director ( a regional c5t] %all file an 
application ) ! ,secret>y ( ,homel&     
,security = ea* inve/m5t (f]+ ?r\gh an  

associat$ comm]cial ent]prise4 ,an ali5 
may n file a petition = classification  
"u ?is p>agraph by reason ( inve/m5t 9  
su* (f]+ until aft] su* application has 
be5 approv$4  7ii7 ,cont5ts ,ea*        
application submitt$ "u clause 7i7 %all 
include-- 7,i7 a compreh5sive bus9ess   
plan = a specific capital inve/m5t      
project2  7,,ii7 a cr$ible economic     
analysis reg>d+ e/imat$ job creation t  
is bas$ ^u economically & /ati/ically   
valid me?odologies2  7,,iii7 any        
docum5ts fil$ ) ! ,securities & ,ex*ange
 ,commission "u ! ,securities ,act (    
#aicc 7#ae ,u4,s4,c4 #gg;a et seq47 or )
 ! securities regulator ( any ,/ate1 z  
requir$ by law2  7,,iv7 any inve/m5t &  
(f]+ docum5ts1 includ+ subscription1    
inve/m5t1 p>tn]%ip1 & op]at+ agreem5ts1 
private placem5t memor&a1 t]m %eets1    
biographies = managem5t1 (fic]s1        
directors1 & any p]son ) simil>         
responsibilities1 ! description ( !     
bus9ess plan to be provid$ to pot5tial  
ali5 inve/ors1 & m>ket+ mat]ials us$ or 

to be us$ 9 connection ) ! (f]+ z ( ! "t
 ( ! fil+1 :i* %all conta9 ref]5ces1 z  
appropriate1 to--  7aa7 any inve/m5t    
risks associat$ ) ! new comm]cial       
ent]prise & ! affiliat$ job-creat+      
entity2  7bb7 any conflicts ( int]e/ t  
exi/ or may arise among ! regional c5t]1
 new comm]cial ent]prise1 job-creat+    
entity1 or ! pr9cipals1 attorneys1 or   
individuals responsible = recruitm5t or 
promotion ( su* entities2  7cc7 any p5d+
 litigation or bankruptcy1 or adv]se    
judgm5ts or bankruptcy ord]s issu$ dur+ 
! mo/ rec5t #aj-ye> p]iod1 9 ! ,unit$   
,/ates or abroad1 affect+ ! regional    
c5t]1 new comm]cial ent]prise1 any      
affiliat$ job-creat+ entity1 or any o!r 
ent]prise 9 :i* any pr9cipal ( !        
a=em5tion$ entities held majority       
own]%ip at ! "t2 &  7dd7 7,,aa7 any     
fees1 ongo+ int]e/1 or o!r comp5sation  
paid or to be paid by regional c5t] or  
new comm]cial ent]prise to ag5ts1 f9d]s1
 or brok] deal]s involv$ 9 ! (f]+2      
7,,bb7 a description ( ! s]vices p]=m$1 

or :i* w be p]=m$1 by su* p]son to      
entitle ! p]son to su* fees1 int]e/1 or 
comp5sation2 & 7,,cc7 ! "n & contact    
in=mation ( any su* p]son1 if kn[n at ! 
"t ( fil+2 &  7,v7 a description ( !    
policies & proc$ures1 includ+ ^? relat$ 
to int]nal & ext]nal due dilig5ce1      
reasonably design$ to cause ! regional  
c5t]1 new comm]cial ent]prise1 & any    
affiliat$ job-creat+ entity1 _! ag5ts1  
employees1 advisors1 & attorneys1 & any 
p]sons 9 active conc]t or p>ticipation )
 ! regional c5t]1 new comm]cial         
ent]prise1 or any affiliat$ job-creat+  
entity comply1 z applicable1 ) !        
securities laws ( ! ,unit$ ,/ates & !   
laws ( ! applicable ,/ates 9 connection 
) ! (f]1 pur*ase1 or sale ( its         
securities4  7iii7 ,effect ( approval ( 
an application = an inve/m5t 9 a        
regional c5t]'s comm]cial ent]prise ,!  
approval ( an application "u ?is        
subp>agraph %all be b9d+ = purposes ( ! 
adjudication ( subsequ5t petitions seek+
 classification "u ?is p>agraph by      

immigrants inve/+ 9 ! same (f]+ describ$
 9 su* application1 & ( petitions fil$  
"u section #baf;,a by ! same immigrants1
 except 9 ! case (--  7,i7 fraud2       
7,,ii7 misrepres5tation2  7,,iii7       
crim9al misuse2  7,,iv7 a ?reat to      
public safety or national security2     
7,v7 a mat]ial *ange t affects          
eligibility2  7,,vi7 o!r evid5ce affect+
 program eligibility t 0 n disclos$ by !
 applicant dur+ ! adjudication process2 
or  7,,vii7 a mat]ial mi/ake ( law or   
fact 9 ! prior adjudication4  7iv7 ,site
 visits ,! ,secret>y %all--  7,i7 p]=m  
site visits to regional c5t]s2 &  7,,ii7
 p]=m at lea/ #a site visit to ea* new  
comm]cial ent]prise or affiliat$        
job-creat+ entity1 :i* %all include a   
review = evid5ce ( direct job creation 9
 accordance ) subp>agraph 7,e77iii77,i74
  7,g7 ,regional c5t] annual /atem5ts   
7i7 ,9 g5]al ,! director ( ea* regional 
c5t] designat$ "u subp>agraph 7,e7 %all 
annually submit a /atem5t1 9 a mann]    
prescrib$ by ! ,secret>y ( ,homel&      

,security1 :i* includes--  7,i7 a       
c]tification /at+ t ! regional c5t]1 any
 associat$ new comm]cial ent]prises1 &  
any affiliat$ job-creat+ entity is 9    
compliance ) clauses 7i7 & 7ii7 (       
subp>agraph 7,h72  7,,ii7 a c]tification
 describ$ 9 subp>agraph 7,i77ii77,,ii72 
7,,iii7 a c]tification /at+ t ! regional
 c5t] is 9 compliance ) subp>agraph     
7,k72  7,,iv7 a description ( any p5d+  
mat]ial litigation or bankruptcy        
proce$+s1 or litigation or bankruptcy   
proce$+s resolv$ dur+ ! prec$+ fiscal   
ye>1 involv+ ! regional c5t]1 any       
associat$ new comm]cial ent]prises1 or  
any job-creat+ entities2  7,v7 an       
acc\nt+ ( all =eign inve/or capital     
inve/$ 9 ! regional c5t]1 new comm]cial 
ent]prise1 or affiliat$ job-creat+      
entity2  7,,vi7 = ea* new comm]cial     
ent]prise associat$ ) ! regional c5t]-- 
7aa7 an acc\nt+ ( ! aggregate capital   
inve/$ 9 ! new comm]cial ent]prise & any
 affiliat$ job-creat+ entity by ali5    
inve/ors "u ?is p>agraph = ea* capital  

inve/m5t project be+ und]tak5 by ! new  
comm]cial ent]prise2  7bb7 a description
 ( h[ ! capital describ$ 9 item 7aa7 is 
be+ us$ to execute ea* capital inve/m5t 
project 9 ! fil$ bus9ess plan or plans2 
7cc7 evid5ce t ! acc\nt requirem5ts "u  
subp>agraph 7,d7 h be5 met2  7dd7       
evid5ce t #ajj p]c5t ( ! capital        
describ$ 9 item 7aa7 has be5 committ$ to
 ea* capital inve/m5t project2  7ee7    
detail$ evid5ce ( ! progress made t[>d !
 completion ( ea* capital inve/m5t      
project2  7ff7 an acc\nt+ ( ! aggregate 
direct jobs creat$ or pres]v$2  7gg7 an 
acc\nt+ ( all fees1 includ+ adm9i/rative
 fees1 loan monitor+ fees1 loan         
managem5t fees1 commissions & simil>    
transaction-bas$ comp5sation1 collect$ f
 ali5 inve/ors by ! regional c5t]1 any  
associat$ new comm]cial ent]prises1 any 
job-creat+ entities or any promot]1     
f9d]1 brok]-deal] or o!r entity engag$  
by any su* entity to locate individual  
inve/ors2  7hh7 any docum5tation ref]r$ 
to 9 subp>agraph 7,f77i77,,iv7 if !re   

has be5 a mat]ial *ange dur+ ! prec$+   
fiscal ye>2 &  7ii7 a c]tification by ! 
regional c5t] t su* /atem5ts are        
accurate2 &  7,,vii7 a description ( !  
regional c5t]'s policies & proc$ures t  
are design$ to enable ! regional c5t]1  
any associat$ new comm]cial ent]prises1 
& any job-creat+ entities to comply )   
applicable ,f$]al & ,/ate labor laws4   
7ii7 ,am5dm5t ( annual /atem5ts ,!      
,secret>y-- 7,i7 %all require ea*       
regional c5t] to am5d or supplem5t !    
annual /atem5t requir$ "u clause 7i7 if 
! ,secret>y det]m9es t su* /atem5t is   
defici5t2 &  7,,ii7 may require !       
regional c5t] to am5d or supplem5t su*  
annual /atem5t if ! ,secret>y det]m9es t
 su* an am5dm5t or supplem5t is         
appropriate4  7iii7 ,record keep+  7,i7 
,9 g5]al ,ea* regional c5t] %all make & 
pres]ve1 dur+ ! #e-ye> p]iod beg9n+ on !
 la/ day ( ! ,f$]al fiscal ye> 9 :i* any
 transactions occurr$1 books1 l$g]s1    
records1 & o!r docum5tation f ! regional
 c5t]1 new comm]cial ent]prise1 or      

affiliat$ job-creat+ entity t 0 us$ to  
support--  7aa7 any claims1 evid5ce1 or 
c]tifications conta9$ 9 ! regional      
c5t]'s annual /atem5ts "u subp>agraph   
7,g72 &  7bb7 associat$ petitions by    
ali5s seek+ classification "u ?is       
section or removal ( conditions "u      
section #baf;,a4  7,,ii7 ,availability  
,all ( ! books1 l$g]s1 records1 & o!r   
docum5tation describ$ 9 subclause 7,i7  
%all be made available to ! ,secret>y ^u
 reque/4  7iv7 ,v]ifications by         
securities & ex*ange commission ,!      
c]tifications requir$ "u clause 7i7 %all
 be v]ifi$ by ! ,securities & ,ex*ange  
,commission4  7,h7 ,bona fides ( p]sons 
involv$ ) ! eb-#e program  7i7 ,9 g5]al 
,no p]son may be a p]son involv$ ) a    
regional c5t]1 new comm]cial ent]prise1 
or affiliat$ job-creat+ entity :o--     
7,i7 has be5 f\nd by a c\rt ( compet5t  
jurisdiction1 or any f9al ord] ( !      
,securities & ,ex*ange ,commission1 or a
 ,/ate securities regulator to h        
committ$--  7aa7 a crim9al or civil     

(f5se involv+ fraud or deceit )9 !      
previ\s #aj ye>s2  7bb7 a civil (f5se   
involv+ fraud or deceit t result$ 9 a   
liability 9 excess ( #a1jjj1jjj2 or     
7cc7 a crime = :i* ! p]son 0 convict$ & 
0 s5t5c$ to a t]m ( imprisonm5t ( m ?an 
#a ye>2  7,,ii7 is subject to a f9al    
ord]1 = ! duration ( any p5alty impos$  
by su* ord]1 ( 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 ! ,securities &     
,ex*ange ,commission1 a f9ancial        
self-regulatory organization recogniz$  
by ! ,securities & ,ex*ange ,commission1
 or ! ,national ,cr$it ,union           
,adm9i/ration1 :i* is bas$ on a         
violation ( any law or regulation t--   
7aa7 prohibits fraudul5t1 manipulative1 

deceptive1 or neglig5t 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 appe>+
 be=e su* commission1 au?ority1 ag5cy1  
or (fic]2 7,,cc7 engag+ 9 ! bus9ess (   
securities1 insurance1 or bank+2 or     
7,,dd7 engag+ 9 sav+s association or    
cr$it union activities2  7,,iii7 is     
engag$ 91 has ev] be5 engag$ 91 or seeks
 to engage 9-- 7aa7 any illicit         
traffick+ 9 any controll$ sub/ance or 9 
any li/$ *emical 7z def9$ 9 section #ajb
 ( ! ,controll$ ,sub/ances ,act 7#ba    
,u4,s4,c4 #hjb772  7bb7 any activity    
relat+ to espionage1 sabotage1 or !ft ( 
intellectual prop]ty2  7cc7 any activity
 relat$ to money laund]+ 7z describ$ 9  
section #aief or #aieg ( title #ah1     
,unit$ ,/ates ,code72  7dd7 any t]rori/ 
activity2  7ee7 any activity con/itut+  
or facilitat+ human traffick+ or a human
 rights (f5se2  7ff7 any activity       
describ$ 9 section #bab7;a77#c77;,e72 or
  7gg7 ! violation ( any /atute1        

regulation1 or ,executive ord] reg>d+   
=eign f9ancial transactions or =eign    
asset control2 or  7,,iv7 7aa7 is1 or   
dur+ ! prec$+ #aj ye>s has be51 includ$ 
on ! ,dep>tm5t ( ,ju/ice's ,li/ (       
,curr5tly ,discipl9$ ,practition]s2 or  
7bb7 dur+ ! prec$+ #aj ye>s1 has receiv$
 a reprim& or o!rwise be5 publicly      
discipl9$ = conduct relat$ to fraud or  
deceit by any b> association or o!r     
self-regulat+ pr(essional association ( 
:i* ! p]son is or 0 a memb]2 or  7,v7 is
 deb>r$ f p>ticipation 9 ! program "u   
?is p>agraph pursuant to subp>agraph    
7,s74  7ii7 ,=eign involvem5t 9 ! eb-#e 
program  7,i7 ,lawful /atus requir$ ,an 
individual may n be involv$ ) a regional
 c5t] unless ! individual--  7aa7 is a  
national ( ! ,unit$ ,/ates2 or  7bb7 has
 be5 lawfully admitt$ = p]man5t resid5ce
 & is n ! subject ( removal proce$+s4   
7,,ii7 ,=eign gov]nm5ts  7aa7 ,9 g5]al  
,except z provid$ 9 item 7bb71 no ag5cy1
 (ficial1 or o!r simil> entity or       
repres5tative ( a =eign gov]nm5t may    

provide capital to1 or be directly or   
indirectly involv$ ) ! own]%ip or       
adm9i/ration (1 a regional c5t]1 a new  
comm]cial ent]prise1 or affiliat$       
job-creat+ entity4  7bb7 ,exception ,a  
=eign or dome/ic inve/m5t fund or o!r   
inve/m5t vehicle t is :olly or p>tially 
own$1 directly or indirectly1 by a bona 
fide =eign sov]eign weal? fund or a     
=eign /ate-own$ ent]prise o!rwise       
p]mitt$ to d bus9ess 9 ! ,unit$ ,/ates  
may be involv$ ) ! own]%ip1 b n !       
adm9i/ration1 ( a job-creat+ entity t is
 n an affiliat$ job-creat+ entity4      
7,,iii7 ,review ( transactions ,any     
transaction involv+ a regional c5t]1 new
 comm]cial ent]prise1 or affiliat$      
job-creat+ entity t is a cov]$          
transaction 7z def9$ 9 section          
#gba7;a77#d7 ( ! ,def5se ,production    
,act ( #aiej 7#ej ,u4,s4,c4             
#defe7;a77#d777 is subject to review by 
! ,committee on ,=eign ,inve/m5t 9 !    
,unit$ ,/ates4  7,,iv7 ,rulemak+ ,n lat]
 ?an #ahj days aft] ! date ( ! enactm5t 

( ! ,immigrant ,inve/or ,program ,re=m  
,act1 ! ,secret>y ( ,homel& ,security1 9
 consultation ) ! ,secret>y ( !         
,treasury & ! ,secret>y ( ,comm]ce1 %all
 issue regulations implem5t+ subclauses 
7,i7 & 7,,ii74  7iii7 ,in=mation requir$
  7,i7 ,9 g5]al ,beg9n+ on ! date ( !   
enactm5t ( ! ,immigrant ,inve/or        
,program ,re=m ,act1 ! ,secret>y (      
,homel& ,security %all require su*      
atte/ations & in=mation1 includ+ !      
submission ( f+]pr9ts or o!r biometrics 
to ! ,f$]al ,bureau ( ,inve/igation1 &  
%all p]=m su* crim9al record *ecks & o!r
 backgr\nd & database *ecks ) respect to
 a regional c5t]1 new comm]cial         
ent]prise1 & any affiliat$ job-creat+   
entity1 & p]sons involv$ ) su* entities1
 to det]m9e :e!r su* entities are 9     
compliance ) clauses 7i7 & 7ii74  7,,ii7
 ,effect ( noncompliance ,! ,secret>y1  
aft] ! completion ( ! backgr\nd *ecks   
describ$ 9 subclause 7,i71 %all notify a
 regional c5t]1 new comm]cial ent]prise1
 or affiliat$ job-creat+ entity :e!r any

 individual involv$ ) su* entities is n 
9 compliance ) clause 7i7 or 7ii74 ,if !
 regional c5t]1 new comm]cial ent]prise1
 or affiliat$ job-creat+ entity fails to
 discont9ue ! prohibit$ individual's    
involvem5t ) su* entity )9 #cj days aft]
 receiv+ a notification "u ?is          
subclause1 ! regional c5t]1 new         
comm]cial ent]prise1 or affiliat$       
job-creat+ entity %all be deem$ to h k t
 su* p]son is 9 violation ( clause 7i7  
or 7ii74  7,i7 ,compliance ) securities 
laws  7i7 ,jurisdiction  7,i7 ,9 g5]al  
,! ,unit$ ,/ates has jurisdiction1      
includ+ subject matt] jurisdiction1 ov] 
! pur*ase or sale ( any security (f]$ or
 sold by any regional c5t] or any p>ty  
associat$ ) a regional c5t] = purposes (
 ! securities laws4  7,,ii7 ,compliance 
) regulation s ,= purposes ( section #e 
( ! ,securities ,act ( #aicc 7#ae       
,u4,s4,c4 #gg;e71 a regional c5t] or any
 p>ty associat$ ) a regional c5t] is n  
preclud$ f (f]+ or sell+ a security     
pursuant to ,regulation ,s 7#ag         

,c4,f4,r4 #bcj4ija et seq47 to ! ext5t t
 su* (f]+ or sell+ o!rwise complies )   
su* regulation4 ,subclause 7,i7 may n be
 con/ru$ to modify any exi/+ regulations
 or int]pretations ( ! ,securities &    
,ex*ange ,commission relat$ to !        
application ( section #ae ( !           
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gho7 to =eign brok] deal]s4  
7ii7 ,regional c5t] c]tifications       
requir$  7,i7 ,initial c]tification ,!  
,secret>y ( ,homel& ,security may n     
approve an application = regional c5t]  
designation or a regional c5t] am5dm5t  
unless ! regional c5t] c]tifies t !     
regional c5t] is 9 compliance )1 & has  
policies & proc$ures 7includ+ ^? relat$ 
to int]nal & ext]nal due dilig5ce7      
reasonably design$ to confirm1 z        
applicable1 t ! regional c5t]1 any      
associat$ new comm]cial ent]prises1 any 
job-creat+ entities1 & all p]sons       
involv$ ) su* entities are & w rema9 9  
compliance ) ! securities laws ( !      
,unit$ ,/ates & ( any ,/ate 9 :i*--     

7aa7 ! (f]1 pur*ase1 or sale (          
securities 0 conduct$2  7bb7 ! issu] (  
securities 0 locat$2 or  7cc7 ! inve/m5t
 advice 0 provid$ by ! regional c5t]1   
any associat$ new comm]cial ent]prises1 
any job-creat+ entities1 or p]sons      
involv$ ) su* entities4  7,,ii7 ,reissue
 ,a regional c5t] %all annually reissue 
a c]tification describ$ 9 subclause     
7,i71 9 accordance ) subp>agraph 7,g71  
to 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 ! regional c5t]1 any associat$
 new comm]cial ent]prises1 any          
job-creat+ entities1 & all p]sons       
involv$ ) su* entities2  7bb7 all su*   
(f]s1 pur*ases1 & sales ( securities or 
! provision ( inve/m5t advice compli$ ) 
! securities laws ( ! ,unit$ ,/ates & ! 
securities laws ( any ,/ate 9 :i* ! (f]1
 pur*ase1 or sale ( securities 0        
conduct$1 ! issu] ( securities 0 locat$1
 or ! inve/m5t advice 0 provid$2 &  7cc7

 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]$1 dur+ !     
previ\s fiscal ye>1 t ! regional c5t] or
 any p>ty associat$ ) ! regional c5t] 0 
n 9 compliance ) ! securities laws ( !  
,unit$ ,/ates or ! securities laws ( any
 ,/ate 9 :i* ! securities activities 7  
conduct$ by any p>ty associat$ ) !      
regional c5t]1 ! c]tifi] %all--  7aa7   
describe ! activities t l$ to           
noncompliance2  7bb7 describe ! actions 
tak5 to rem$y ! noncompliance2 &  7cc7  
c]tify t ! regional c5t]1 any associat$ 
new comm]cial ent]prises1 any job-creat+
 entities1 & all p]sons involv$ ) su*   
entities are curr5tly 9 compliance4     
7,,iv7 ,due dilig5ce inve/igation ,any  
c]tification provid$ by a c]tifi] "u ?is
 clause ) respect to an entity 9 :i* !  
c]tifi] is n 9 a position ( sub/antive  
au?ority %all be made to ! be/ ( !      
c]tifi]'s k aft] due dilig5ce           

inve/igation4  7iii7 ,ov]sight requir$  
,ea* regional c5t] %all-- 7,i7 monitor &
 sup]vise all (f]s1 pur*ases1 & sales (1
 & inve/m5t advice relat+ to securities 
made by ! regional c5t]1 any associat$  
new comm]cial ent]prises1 any job-creat+
 entities1 & all p]sons involv$ ) su*   
entities to confirm compliance ) !      
securities laws ( ! ,unit$ ,/ates2      
7,,ii7 ma9ta9 records1 data1 & in=mation
 relat+ to all su* (f]s1 pur*ases1      
sales1 & inve/m5t advice dur+ ! #e-ye>  
p]iod beg9n+ on ! date ( creation ( su* 
records1 data1 or in=mation1 :i* %all be
 made available to ! ,secret>y ^u       
reque/2 &  7,,iii7 make ! records1 data1
 & in=mation describ$ 9 subclause 7,,ii7
 available to ! ,secret>y ^u reque/4    
7iv7 ,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 laws or any ,/ate securities 
regulator "u ,/ate securities laws4     
7,j7 ,,eb-#e integrity fund  7i7        

,e/abli%m5t ,!re is e/abli%$ 9 ! ,unit$ 
,/ates ,treasury a special fund1 :i*    
%all be kn[n z ! ,,eb-#e ,integrity     
,fund 7ref]r$ to 9 ?is subp>agraph z !  
,fund74 ,am\nts deposit$ into ! ,fund   
%all be available to ! ,secret>y (      
,homel& ,security until exp5d$ = !      
purposes set =? 9 clause 7iii74  7ii7   
,fees  7,i7 ,annual fee ,on ,april #a1  
#bjbj1 & on ,janu>y #a ( ea* ye>        
!reaft]1 ! ,secret>y ( ,homel& ,security
 %all--  7aa7 except z provid$ 9 item   
7bb71 collect a fee ( #bj1jjj f ea*     
regional c5t] designat$ "u subp>agraph  
7,e72  7bb7 collect a fee ( #aj1jjj f   
ea* regional c5t] designat$ "u          
subp>agraph 7,e7 t is a n-=-pr(it       
regional c5t]1 or has #bj or few] total 
inve/ors 9 ! prec$+ fiscal ye> 9 its new
 comm]cial ent]prises2 &  7cc7 deposit !
 fees collect$ pursuant to items 7aa7 & 
7bb7 into ! ,fund4  7,,ii7 ,petition fee
 ,beg9n+ on ,april #a1 #bjbj1 !         
,secret>y %all collect a fee ( #a1jjj ) 
ea* petition fil$ "u section            

#bjd7;a77#a77;,h7 = classification "u   
subp>agraph 7,e7 & deposit ea* fee      
collect$ "u ?is subclause into ! ,fund4 
7,,iii7 ,increases ,! ,secret>y may     
prescribe su* regulations z may be      
necess>y to increase ! doll> am\nts "u  
?is clause to ensure t ! ,fund is       
suffici5t to c>ry out ! purposes set =? 
9 clause 7iii74 ,increases "u ?is       
subclause may n exce$ #ajj p]c5t 9 any  
#ab-mon? p]iod4  7iii7 ,p]missible uses 
( fund ,! ,secret>y ( ,homel& ,security 
%all-- 7,i7 use n less ?an #a_/c ( !    
am\nts deposit$ into ! ,fund to conduct 
audits & site visits 7) or )\t notice72 
7,,ii7 use n less ?an #a_/c ( ! am\nts  
deposit$ into ! ,fund = inve/igations   
bas$ outside ( ! ,unit$ ,/ates1         
includ+--  7aa7 monitor+ & inve/igat+   
program-relat$ ev5ts & promotional      
activities2 &  7bb7 ensur+ ! compliance 
( ali5 inve/ors ) subp>agraph 7,l72     
7,,iii7 use am\nts deposit$ into ! ,fund
 z ! ,secret>y det]m9es to be necess>y1 
includ+ to monitor compliance ) !       

requirem5ts "u ?is p>agraph2  7,,iv7 use
 am\nts deposit$ into ! ,fund to conduct
 int]views ( ! own]s1 (fic]s1 directors1
 manag]s1 p>tn]s1 ag5ts1 employees1     
promot]s1 & attorneys ( regional c5t]s1 
new comm]cial ent]prises1 & job-creat+  
entities2 &  7,v7 use am\nts deposit$   
into ! ,fund-- 7aa7 to detect &         
inve/igate fraud or o!r crimes2 &  7bb7 
to det]m9e :e!r regional c5t]s1 new     
comm]cial ent]prises1 any job-creat+    
entities1 & ali5 inve/ors 7& _! ali5    
sp\ses & ali5 *ildr57 comply ) !        
immigration laws4  7iv7 ,report ,!      
,secret>y ( ,homel& ,security %all      
submit an annual report to ! ,committee 
on ! ,judici>y ( ! ,s5ate & ! ,committee
 on ! ,judici>y ( ! ,h\se (             
,repres5tatives t describes h[ am\nts 9 
! ,fund 7 exp5d$ dur+ ! previ\s fiscal  
ye>4  7,k7 ,direct & ?ird-p>ty promot]s 
7i7 ,rules & /&>ds ,direct & ?ird-p>ty  
promot]s ( a regional c5t]1 any new     
comm]cial ent]prise1 or any affiliat$   
job-creat+ entity %all comply ) ! rules 

& /&>ds prescrib$ by ! ,secret>y (      
,homel& ,security & any applicable      
,f$]al or ,/ate securities laws1 to     
ov]see promotion ( any (f]+ ( securities
 relat$ to ! immigrant inve/or program  
"u ?is p>agraph1 includ+--  7,i7        
regi/ration ) ,u4,s4 ,citiz5%ip &       
,immigration ,s]vices1 :i*-- 7aa7 may be
 limit$ to id5tify+ & contact in=mation 
( su* promot] & confirmation ( ! exi/5ce
 ( ! writt5 agreem5t requir$ "u clause  
7iii72  7bb7 may n include any          
requirem5t t ,u4,s4 ,citiz5%ip &        
,immigration ,s]vices approve !         
regi/ration ( su* promot]2 &  7cc7 may  
p]mit ! li/ ( su* regi/]$ promot]s to be
 made publicly available2  7,,ii7       
c]tification by ea* promot] t su*       
promot] is n ineligible "u subp>agraph  
7,h77i72  7,,iii7 guidel9es = accurately
 repres5t+ ! visa process to =eign      
inve/ors2 &  7,,iv7 p]missible fee      
arrangem5ts1 if applicable4  7ii7       
,compliance ,ea* regional c5t]1 new     
comm]cial ent]prise1 & affiliat$        

job-creat+ entity %all ma9ta9 a writt5  
agreem5t betwe5 or among su* entities & 
ea* direct or ?ird-p>ty promot] op]at+  
on behalf ( su* entities or associat$   
issu] t outl9es ! rules & /&>ds         
prescrib$ "u clause 7i74  7iii7         
,disclosure ,ea* petition fil$ "u       
section #bjd7;a77#a77;,h7 %all include a
 disclosure by ! regional c5t]1 new     
comm]cial ent]prise1 or affiliat$       
job-creat+ entity1 z applicable1        
ackn[l$g$ by ! inve/or1 t reflects all  
fees1 ongo+ int]e/1 & o!r comp5sation   
paid or to be paid to any p]son 9       
connection ) ! inve/m5t1 includ+        
comp5sation to ag5ts1 f9d]s1 or brok]   
deal]s involv$ 9 ! (f]+1 to ! ext5t n   
already specifically id5tifi$ 9 !       
bus9ess plan fil$ "u subp>agraph 7,f74  
7,l7 ,s\rce ( funds  7i7 ,9 g5]al ,an   
ali5 inve/or %all demon/rate t ! capital
 requir$ "u subp>agraph 7,a7 & any      
am\nts us$ to pay adm9i/rative co/s &   
fees associat$ ) ! ali5's inve/m5t 7    
obta9$ f a lawful s\rce & ?r\gh lawful  

means4  7ii7 ,requir$ in=mation ,!      
,secret>y ( ,homel& ,security %all      
require t an ali5 inve/or's petition "u 
?is p>agraph conta91 z applicable--     
7,i7 bus9ess & tax records1 includ+--   
7aa7 =eign bus9ess regi/ration records1 
if applicable2  7bb7 corporate or       
p>tn]%ip tax returns 7or tax returns (  
any o!r entity 9 any =m fil$ 9 any      
c\ntry or subdivision ( su* c\ntry71 &  
p]sonal tax returns includ+ income1     
fran*ise1 prop]ty 7:e!r real1 p]sonal1  
or intangible71 or any o!r tax returns (
 any k9d1 fil$ dur+ ! pa/ #g ye>s1 or   
ano!r p]iod to be det]m9$ by ! ,secret>y
 to ensure t ! inve/m5t is obta9$ f a   
lawful s\rce ( funds1 ) any tax+        
jurisdiction 9 or outside ! ,unit$      
,/ates by or on behalf ( ! ali5 inve/or1
 if applicable2 &  7cc7 evid5ce id5tify+
 any o!r s\rce ( capital or adm9i/rative
 fees2  7,,ii7 evid5ce relat$ to monet>y
 judgm5ts aga9/ ! ali5 inve/or1 includ+ 
c]tifi$ copies ( any judgm5ts1 & evid5ce
 ( all p5d+ gov]nm5tal civil or crim9al 

actions1 gov]nm5tal adm9i/rative        
proce$+s1 & any private civil actions   
involv+ possible monet>y judgm5ts aga9/ 
! ali5 inve/or f any c\rt 9 or outside !
 ,unit$ ,/ates2 &  7,,iii7 ! id5tity (  
all p]sons :o transf] into ! ,unit$     
,/ates1 on behalf ( ! inve/or-- 7aa7 any
 funds t are us$ to meet ! capital      
requirem5t "u subp>agraph 7,a72 &  7bb7 
any funds t are us$ to pay adm9i/rative 
co/s & fees associat$ ) ! ali5's        
inve/m5t4  7iii7 ,gift & loan           
re/rictions  7,i7 ,9 g5]al ,gift$ &     
borr[$ funds may n be c\nt$ t[>d !      
m9imum capital inve/m5t requirem5t "u   
subp>agraph 7,c7 unless su* funds--     
7aa7 7 gift$ or loan$ to ! ali5 inve/or 
9 good fai?2 &  7bb7 7 n gift$ or loan$ 
to circumv5t any limitations impos$ on  
p]missible s\rces ( capital "u ?is      
subp>agraph4  7,,ii7 ,records requirem5t
 ,if a significant portion ( ! capital  
inve/$ "u subp>agraph 7,a7 0 gift$ or   
loan$ to ! ali5 inve/or1 ! ,secret>y    
%all require t ! ali5 inve/or's petition

 "u ?is p>agraph includes ! records     
describ$ 9 subclauses 7,i7 & 7,,ii7 (   
clause 7ii7 f ! donor or1 if o!r ?an a  
bank1 ! l5d]4  7,m7 ,petition =         
classification z an immigrant inve/or   
7i7 ,fil+ ,an ali5 seek+ classification 
z an immigrant inve/or "u ?is p>agraph  
%all file a petition ) ! ,secret>y (    
,homel& ,security1 ) ! appropriate fil+ 
fees 7includ+ ! ,,eb-#e ,fraud          
,prev5tion & ,detection ,fee requir$ "u 
section #bhf7w77#c771 & ) su* evid5ce z 
! ,secret>y %all prescribe4 ,! approval 
( a petition = classification z an      
immigrant inve/or "u ?is p>agraph does  
n1 by itself1 e/abli% t ! ali5 is       
entitl$ to immigrant /atus4  7ii7       
,treatm5t ( *ildr5 ,a *ild ( an ali5    
inve/or on ! date on :i* a petition is  
fil$ "u clause 7i7 %all cont9ue to be   
consid]$ a *ild until ! removal ( !     
conditional basis ( ! *ild's lawful     
p]man5t resid5t /atus unless--  7,i7 !  
petition on :i* ! *ild's /atus is bas$  
is revok$2 or  7,,ii7 ! *ild's lawful   

p]man5t resid5t /atus is o!rwise        
t]m9at$4  7iii7 ,decisions  7,i7 ,)hold+
 adjudication ,! ,secret>y ( ,homel&    
,security may susp5d adjudication ( any 
petition = classification "u ?is        
p>agraph until all backgr\nd & security 
*ecks & any national security or law    
en=cem5t inve/igation relat+ to su*     
application or ! ali5 seek+             
classification is complet$4  7,,ii7     
,d5ials & revocations  7aa7 ,notice (   
d5ial or revocation ,! ,secret>y %all   
provide an ali5 inve/or ) a notice ( !  
,secret>y's d5ial ( a petition or       
revocation ( an approv$ petition "u ?is 
subp>agraph4  7bb7 ,d5ial = fraud1      
misrepres5tation1 & crim9al misuse ,!   
,secret>y %all d5y a petition =         
classification ( an ali5 z an immigrant 
inve/or "u ?is p>agraph if ! ,secret>y  
det]m9es t ! petition 0 pr$icat$ on or  
involv$ fraud1 deceit1 int5tional       
mat]ial misrepres5tation1 or crim9al    
misuse4  7cc7 ,national security or     
public safety ,! ,secret>y may d5y a    

petition or revoke an approv$ petition  
"u ?is section if ! ,secret>y det]m9es t
 approval ( su* a petition w\ld be      
contr>y to ! national int]e/s ( ! ,unit$
 ,/ates = reasons relat+ to national    
security or public safety4  7,,iii7     
,judicial review ,not)/&+ any o!r       
provision ( law 7/atutory or            
non/atutory71 includ+ section #bbda (   
title #bh1 ,unit$ ,/ates ,code1 or any  
o!r habeas corpus provision1 & sections 
#acfa & #afea ( su* title1 no c\rt %all 
h jurisdiction to review a d5ial or     
revocation "u ?is subp>agraph4 ,no?+ 9  
?is clause may be con/ru$ z preclud+    
review ( con/itutional claims or        
que/ions ( law rais$ ^u a petition =    
review fil$ ) an appropriate c\rt (     
appeals 9 accordance ) section #bdb4    
7,n7 ,?reats to ! national int]e/ ,!    
,secret>y ( ,homel& ,security %all d5y  
or revoke ! approval ( a petition1      
application1 c]tification1 or b5efit "u 
?is p>agraph1 includ+ ! docum5ts        
describ$ 9 subclause 7,,ii71 if !       

,secret>y det]m9es1 9 ! ,secret>y's     
unreviewable discretion1 t ! approval ( 
su* petition1 application1 or b5efit is 
contr>y to ! national int]e/ ( ! ,unit$ 
,/ates = reasons relat+ to ?reats to    
public safety or national security4     
7,o7 ,adm9i/rative appellate review  7i7
 ,9 g5]al ,! ,director ( ,u4,s4         
,citiz5%ip & ,immigration ,s]vices %all 
provide an opportunity = an adm9i/rative
 appellate review by ! ,adm9i/rative    
,appeals ,(fice ( ,u4,s4 ,citiz5%ip &   
,immigration ,s]vices ( any det]m9ation 
made "u ?is p>agraph1 includ+--  7,i7 an
 application = regional c5t] designation
 or regional c5t] am5dm5t2  7,,ii7 an   
application = approval ( a bus9ess plan 
"u subp>agraph 7,f72  7,,iii7 a petition
 by an ali5 inve/or = /atus z an        
immigrant "u ?is p>agraph2  7,,iv7 !    
t]m9ation or susp5sion ( any b5efit     
accord$ "u ?is p>agraph2 &  7,v7 any    
sanction impos$ by ! ,secret>y ( ,homel&
 ,security "u ?is p>agraph4  7ii7       
,judicial review ,subject to section    

#bdb7;a77#b71 & not)/&+ any o!r         
provision ( law 7/atutory or            
non/atutory71 includ+ section #bbda (   
title #bh1 ,unit$ ,/ates ,code1 any o!r 
habeas corpus provision1 & sections     
#acfa & #afea ( su* title1 no c\rt %all 
h jurisdiction to review a det]m9ation  
"u ?is subp>agraph 7,o77i77,,iii7 until 
! regional c5t]1 its associat$ entities1
 or ! ali5 inve/or has exhau/$ all      
adm9i/rative appeals4  7,p7 ,treatm5t ( 
inve/ors if a regional c5t] has be5     
t]m9at$  7i7 ,9 g5]al ,^u t]m9ation or  
deb>m5t1 z applicable1 f ! program "u   
?is p>agraph ( a regional c5t]1 new     
comm]cial ent]prise1 or affiliat$       
job-creat+ entity "u ?is p>agraph1 &    
except z provid$ 9 clauses 7iii7 & 7vi7 
( subp>agraph 7,s71 ! conditional       
p]man5t resid5ce ( an ali5 :o has be5   
admitt$ to ! ,unit$ ,/ates pursuant to  
section #baf;,a7a77#a7 bas$ on an       
inve/m5t 9 a t]m9at$ regional c5t]1 new 
comm]cial ent]prise1 or affiliat$       
job-creat+ entity %all rema9 valid or   

cont9ue to be au?oriz$1 z applicable1 9 
accordance ) ?is subp>agraph4  7ii7 ,new
 regional c5t] or inve/m5t ,!           
conditional p]man5t resid5t /atus ( an  
ali5 describ$ 9 clause 7i7 %all be      
t]m9at$ on ! date t is #ahj days aft] ! 
t]m9ation f ! program "u ?is p>agraph ( 
a regional c5t]1 a new comm]cial        
ent]prise1 or a job-creat+ entity       
unless--  7,i7 if a regional c5t] 0     
t]m9at$-- 7aa7 ! new comm]cial ent]prise
 is associat$ ) an approv$ regional     
c5t]2  7bb7 ! ali5 makes a qualify+     
inve/m5t 9 ano!r comm]cial ent]prise    
associat$ ) an approv$ regional c5t]2 or
  7cc7 ! ali5 makes a qualify+ inve/m5t 
9 ano!r comm]cial ent]prise "u ?is      
p>agraph n associat$ ) a regional c5t]2 
or  7,,ii7 if a new comm]cial ent]prise 
or affiliat$ job-creat+ entity 0 deb>r$1
 ! ali5 inve/s 9 ano!r comm]cial        
ent]prise associat$ ) an approv$        
regional c5t]4  7iii7 ,removal (        
conditions ,ali5s describ$ 9 subclause  
7,i77bb71 7,i77cc71 or 7,,ii7 ( clause  

7ii7 :o h obta9$ conditional p]man5t    
resid5ce be=e mak+ ! subsequ5t inve/m5t 
%all be eligible to h _! conditions     
remov$ pursuant to section #baf;,a      
beg9n+ on ! date t is #b ye>s aft] !    
date ( ! subsequ5t inve/m5t4  7,q7      
,fraud1 misrepres5tation1 & crim9al     
misuse  7i7 ,d5ial or revocation ,!     
,secret>y ( ,homel& ,security %all d5y  
or revoke ! approval ( a petition1      
application1 or b5efit describ$ 9 ?is   
p>agraph1 includ+ ! docum5ts describ$ 9 
subp>agraph 7,m77iv77,,ii71 if !        
,secret>y det]m9es t su* petition1      
application1 or b5efit 0 pr$icat$ on or 
involv$ fraud1 deceit1 int5tional       
mat]ial misrepres5tation1 or o!r crim9al
 activity4  7ii7 ,notice ,if ! ,secret>y
 det]m9es t ! approval ( a petition1    
application1 or b5efit describ$ 9 ?is   
p>agraph %\ld be d5i$ or revok$ pursuant
 to clause 7i71 ! ,secret>y %all--  7,i7
 notify ! relevant individual1 regional 
c5t]1 or comm]cial entity ( su*         
det]m9ation2 &  7,,ii7 d5y or revoke su*

 petition1 application1 or b5efit or    
t]m9ate ! p]man5t resid5t /atus ( ! ali5
 7& ! ali5 sp\se & ali5 *ildr5 ( su*    
immigrant7 z ( ! date ( su* det]m9ation4
  7,r7 ,deb>m5t  7i7 ,susp5sion or      
t]m9ation ,a regional c5t]1 new         
comm]cial ent]prise1 affiliat$          
job-creat+ entity or any p]son involv$ )
 any su* entity may be susp5d$ or       
t]m9at$ f p>ticipat+ 9 ! program "u ?is 
p>agraph--  7,i7 = fail+ to comply )    
subp>agraphs 7,g71 7,h71 7,i71 or 7,j72 
7,,ii7 = fraud1 int5tional mat]ial      
misrepres5tation1 or crim9al misuse2    
7,,iii7 = reasons relat$ to public      
safety or national security2 or  7,,iv7 
= engag+ 9 any activity describ$ 9      
p>agraph 7#b7 or 7#c7 ( section         
#bab7;a74  7ii7 ,direct or ?ird-p>ty    
promot]s ,if ! ,secret>y det]m9es t a   
direct or ?ird-p>ty promot] has violat$ 
subp>agraph 7,k77i71 ! ,secret>y %all   
susp5d or p]man5tly b> su* individual f 
p>ticipation 9 ! immigrant inve/or      
program "u ?is p>agraph4  7iii7         

,tempor>y or p]man5t b>s ,any p]son1    
includ+ an immigrant inve/or1 :o !      
,secret>y det]m9es1 by a prepond]ance ( 
! evid5ce1 0 a kn[+ or neglig5t         
p>ticipant 9 ! conduct t l$ to !        
susp5sion or t]m9ation "u clause 7i7 or 
7ii7 may be tempor>ily or p]man5tly b>r$
 f future p>ticipation 9 ! immigrant    
inve/or program "u ?is p>agraph4  7iv7  
,effect ( deb>m5t ,a p]son :o is        
susp5d$1 t]m9at$1 or b>r$ "u ?is        
subp>agraph-- 7,i7 may n s]ve z a basis 
= eligibility = any application1        
petition1 or o!r b5efit reque/ "u ?is   
p>agraph2  7,,ii7 may n file an         
application1 petition1 or o!r b5efit    
reque/ "u ?is p>agraph2  7,,iii7 may n  
be involv$ ) any regional c5t]1 new     
comm]cial ent]prise or any affiliat$    
job-creat+ entity2 &  7,,iv7 may n h any
 au?ority1 connection1 or o!r =m (      
association ) ! (f]1 sale1 pur*ase or   
promotion ( any securities (f]$ by an   
entity describ$ 9 subclause 7,,iii7 9   
connection ) ! immigrant inve/or program

 "u ?is p>agraph4  7v7 ,d5ial or        
revocation ,subject to subp>agraph 7,p71
 ! ,secret>y may d5y or revoke any p5d+ 
or approv$ application1 petition1 or o!r
 b5efit reque/ "u ?is p>agraph 9        
connection ) ! susp5sion1 t]m9ation1 or 
b> ( any p]son "u ?is subp>agraph t 0   
fil$ by ! susp5d$1 t]m9at$1 or b>r$     
p]son or relies on su* p]son =          
eligibility4  7vi7 ,t]m9ation ( /atus   
,if ! ,secret>y has reason to believe an
 ali5 0 a kn[+ p>ticipant 9 ! conduct t 
l$ to a susp5sion or t]m9ation "u ?is   
subp>agraph1 ! ,secret>y %all--  7,i7   
notify ! ali5 ( su* belief2 &  7,,ii7   
subject to section #baf;,a7b77#b71      
t]m9ate ! p]man5t resid5t /atus ( ! ali5
 7& ! ali5's sp\se & *ild7 z ( ! date ( 
su* det]m9ation4  7,s7 ,conflict (      
int]e/ ,an individual may n contract to 
provide s]vices z a loan monitor = a    
bus9ess or project ) :i* ! individual 0 
associat$ :ile employ$ by a regional    
c5t]4  7,t7 ,def9itions ,9 ?is p>agraph3
 7i7 ,affiliat$ job-creat+ entity ,! t]m

 affiliat$ job-creat+ entity means any  
organization t--  7,i7 is =m$ 9 ! ,unit$
 ,/ates = ! ongo+ conduct ( lawful      
bus9ess1 includ+ a p>tn]%ip 7:e!r limit$
 or g5]al71 corporation1 limit$         
liability company1 or o!r entity t      
receives1 or is e/abli%$ to receive1    
capital inve/m5t f ali5 inve/ors or a   
new comm]cial ent]prise "u ! regional   
c5t] program describ$ 9 subp>agraph     
7,e72 &  7,,ii7 is responsible = !      
creation ( jobs to satisfy ! requirem5t 
"u subp>agraph 7,a77ii74  7ii7 ,capital 
,! t]m capital--  7,i7 means ca%        
7includ+ ! ca% proce$s ( indebt$ness t  
are fully secur$ by ! petition]'s       
assets7 & all real1 p]sonal1 or mix$    
tangible assets own$ & controll$ by !   
ali5 inve/or1 or held 9 tru/ = ! b5efit 
( ! ali5 & to :i* ! ali5 has unre/rict$ 
access2  7,,ii7 %all be valu$ at fair   
m>ket value 9 ,unit$ ,/ates doll>s1 9   
accordance ) ,g5]ally ,accept$ ,acc\nt+ 
,pr9ciples or o!r /&>d acc\nt+ practice 
adopt$ by ! ,securities & ,ex*ange      

,commission1 at ! "t su* capital is     
inve/$ "u ?is p>agraph2 &  7,,iii7 does 
n include assets directly or indirectly 
acquir$ by unlawful means1 includ+ any  
ca% proce$s ( indebt$ness secur$ by su* 
assets4  7iii7 ,c]tifi] ,! t]m c]tifi]  
means a p]son provid+ a c]tification =  
any entity "u ?is p>agraph :o is 9 a    
position ( sub/antive au?ority = !      
managem5t or op]ations ( ! entity1      
includ+ a pr9cipal executive (fic] or a 
pr9cipal f9ancial (fic]1 ) k ( su*      
entity's policies & proc$ures relat$ to 
compliance ) ! requirem5ts "u ?is       
p>agraph4  7iv7 ,full-"t employm5t ,!   
t]m full-"t employm5t means employm5t 9 
a position t requires at lea/ #ce h\rs (
 s]vice p] week at any "t1 reg>dless (  
:o fills ! position4  7v7 ,new comm]cial
 ent]prise ,! t]m new comm]cial         
ent]prise means any =-pr(it organization
 =m$ 9 ! ,unit$ ,/ates )9 #e ye>s aft] !
 e>li] ( ! application = approval ( an  
inve/m5t or ! submission ( a petition "u
 ?is p>agraph1 = ! ongo+ conduct (      

lawful bus9ess1 includ+ a p>tn]%ip 7:e!r
 limit$ or g5]al71 corporation1 limit$  
liability company1 or o!r entity t      
receives1 or is e/abli%$ to receive1    
capital inve/m5t f inve/ors "u ?is      
p>agraph4  7vi7 ,p]sons involv$ ) a     
regional c5t]1 new comm]cial ent]prise1 
or affiliat$ job-creat+ entity ,! t]m   
p]sons involv$ ) respect to a regional  
c5t]1 a new comm]cial ent]prise1 or any 
affiliat$ job-creat+ entity means a     
p]son directly or indirectly 9 a        
position ( sub/antive au?ority to make  
op]ational or manag]ial decisions ov] or
 to legally b9d su* entities4 ,a p]son  
may be 9 a position ( sub/antive        
au?ority if ! p]son s]ves z ! pr9cipal1 
repres5tative1 adm9i/rator1 own]1 (fic]1
 bo>d memb]1 manag]1 executive1 or g5]al
 p>tn] ( ! regional c5t]1 new comm]cial 
ent]prise1 or affiliat$ job-creat+      
entity1 respectively4  7vii7 ,rural area
 ,! t]m rural area means any area t1    
bas$ on ! mo/ rec5t dec5nial c5sus ( !  
,unit$ ,/ates-- 7,i7 is outside ( !     

b\nd>y ( any city or t[n ) a population 
( #bj1jjj or m p2 &  7,,ii7 7aa7 is     
outside ( a metropolitan /ati/ical area2
 or  7bb7 is )9 any c5sus tract t is    
great] ?an #ajj squ>e miles 9 area & has
 a population d5sity ( few] ?an #ajj p  
p] squ>e mile4  7viii7 ,t>get$ employm5t
 area ,! t]m t>get$ employm5t area      
means-- 7,i7 a qualifi$ opportunity zone
 7z designat$ "u section #adjj,z-#a ( ! 
,int]nal ,rev5ue ,code ( #aihf2  7,,ii7 
a rural area2 or  7,,iii7 an area )9 !  
geographic b\nd>ies ( any milit>y       
in/allation t 0 clos$ be=e ! fil+ ( an  
application = classification z an       
immigrant inve/or "u ?is p>agraph1 bas$ 
^u a recomm5dation by a ,def5se ,base   
,closure & ,realignm5t ,commission4  4  
7b7 ,effective dates  7#a7 ,9 g5]al     
,except z provid$ 9 p>agraph 7#b71 !    
am5dm5t made by subsection 7a71 %all    
take effect on ! date t is #ij days aft]
 ! date ( ! enactm5t ( ?is ,act4  7#b7  
,exceptions ,subp>agraphs 7,e77iv7 &    
7,l7 ( section #bjc7;b77#e7 ( !         

,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aaec7;b77#e77 %all n apply to
 a petition t--  7,a7 0 fil$ by an ali5 
inve/or "u su* section #bjc7;b77#e7 be=e
 ! date ( ! enactm5t ( ?is ,act2 or     
7,b7 is fil$ "u section #baf;,a ( su*   
,act 7#h ,u4,s4,c4 #aahf;b7 if ! und]ly+
 petition fil$ "u section #bjc7;b77#e7 (
 su* ,act 0 fil$ be=e ! date ( !        
enactm5t ( ?is ,act4  7c7 ,,gao report  
,n lat] ?an ,decemb] #ca1 #bjba1 !      
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all submit a report to ! ,committee on 
! ,judici>y ( ! ,s5ate & ! ,committee on
 ! ,judici>y ( ! ,h\se ( ,repres5tatives
 t describes--  7#a7 ! economic b5efits 
( ! regional c5t] program e/abli%$ "u   
section #bjc7;b77#e7 ( ! ,immigration & 
,nationality ,act 7#h ,u4,s4,c4         
#aaec7;b77#e771 includ+ ! /eps tak5 by  
,u4,s4 ,citiz5%ip & ,immigration        
,s]vices to v]ify job creation2  7#b7 ! 
ext5t to :i* ,u4,s4 ,citiz5%ip &        
,immigration ,s]vices ensures compliance
 by regional c5t] p>ticipants ) _!      

obligations "u ! immigrant inve/or      
program2  7#c7 ! ext5t to :i* ,u4,s4    
,citiz5%ip & ,immigration ,s]vices has  
ma9ta9$ records ( regional c5t]s &      
associat$ comm]cial ent]prises1 includ+ 
annual /atem5ts & c]tifications2  7#d7 !
 /eps tak5 by ,u4,s4 ,citiz5%ip &       
,immigration ,s]vices to v]ify ! s\rce (
 funds1 z requir$ "u section            
#bjc7;b77#e77,l7 ( ! ,immigration &     
,nationality ,act1 z add$ by subsection 
7a72  7#e7 ! ext5t to :i* ,u4,s4        
,citiz5%ip & ,immigration ,s]vices      
collaborates ) o!r ,f$]al & law en=cem5t
 ag5cies1 p>ticul>ly to detect illegal  
activity & ?reats to national security  
relat$ to ! regional c5t] program2  7#f7
 ! ext5t to :i* ,u4,s4 ,citiz5%ip &     
,immigration ,s]vices has prev5t$ fraud 
& abuse 9 regional c5t] activities1     
includ+ ! designation ( t>get$ employm5t
 areas 9 areas t o!rwise h high         
employm5t2  7#g7 ! ext5t to :i* ,u4,s4  
,citiz5%ip & ,immigration ,s]vices has  
us$ its au?ority to sanction1 susp5d1   

b>1 or t]m9ate regional c5t]s or        
individuals affiliat$ ) regional c5t]s2 
7#h7 ! /eps tak5 to ov]see direct &     
?ird-p>ty promot]s "u section           
#bjc7;b77#e77,k7 ( ! ,immigration &     
,nationality ,act1 z add$ by subsection 
7a72  7#i7 ! ext5t to :i* employees ( ! 
,dep>tm5t ( ,homel& ,security h compli$ 
) ! e?ical /&>ds & transp>5cy           
requirem5ts set =? 9 section #c2 &      
7#aj7 ! am\nts exp5d$ f ! ,,eb-#e       
,integrity ,fund e/abli%$ "u section    
#bjc7;b77#e77;,j7 ( ! ,immigration &    
,nationality ,act1 z add$ by subsection 
7a74  7d7 ,inspector ,g5]al report ,n   
lat] ?an ,decemb] #ca1 #bjba1 !         
,inspector ,g5]al ( ! ,intellig5ce      
,community1 9 coord9ation ) ! ,inspector
 ,g5]al ( ! ,dep>tm5t ( ,homel&         
,security & aft] consultation ) relevant
 ,f$]al ag5cies1 includ+ ,u4,s4         
,immigration & ,cu/oms ,en=cem5t1 %all  
submit a report to ! ,committee on !    
,judici>y ( ! ,s5ate & ! ,committee on !
 ,judici>y ( ! ,h\se ( ,repres5tatives  

reg>d+ ! immigrant visa program set =? 9
 section #bjc7;b77#e7 ( ! ,immigration &
 ,nationality ,act1 z am5d$ by          
subsection 7a7 t describes--  7#a7 !    
vuln]abilities )9 ! program t may       
und]m9e ! national security ( ! ,unit$  
,/ates2  7#b7 ! actual or pot5tial use (
 ! program to facilitate export (       
s5sitive te*nology2  7#c7 ! actual or   
pot5tial use ( ! program to facilitate  
economic espionage2  7#d7 ! actual or   
pot5tial use ( ! program by =eign       
gov]nm5t ag5ts2 &  7#e7 ! actual or     
pot5tial use ( ! program to facilitate  
t]rori/ activity1 includ+ fund+ t]rori/ 
activity or laund]+ t]rori/ funds4  7e7 
,review ( job creation me?odologies ,n  
lat] ?an #a ye> aft] ! date ( ! enactm5t
 ( ?is ,act1 ! ,secret>y ( ,homel&      
,security1 9 consultation ) ! ,bureau ( 
,economic ,analysis ( ! ,dep>tm5t (     
,comm]ce1 or ano!r compon5t )9 !        
,dep>tm5t ( ,comm]ce1 z det]m9$ by !    
,secret>y ( ,comm]ce1 %all issue        
regulations to det]m9e economically &   

/ati/ically valid g5]al economic        
me?odologies t comply ) section         
#bjc7;b77#e77;,a77ii7 ( ! ,immigration &
 ,nationality ,act1 z am5d$ by          
subsection 7a74  7f7 ,dep>tm5t ( ,homel&
 ,security report ,n lat] ?an #ah mon?s 
aft] ! date ( ! enactm5t ( ?is ,act1 &  
annually !reaft]1 ! ,secret>y ( ,homel& 
,security %all submit a report to       
,congress reg>d+--  7#a7 ! geographic   
location & types ( complet$ & p5d+      
capital inve/m5t projects )9 ! scope (  
bus9ess plans 7:e!r approv$ or wait+    
approval7 submitt$ pursuant to section  
#bjc7;b77#e77;,f7 ( ! ,immigration &    
,nationality ,act1 z add$ by subsection 
7a72 &  7#b7 ! am\nt ( =eign inve/m5ts  
rais$ & expect$ to be rais$ to f9ance   
projects ref]r$ to 9 p>agraph 7#a74  #c4
 ,transp>5cy  7a7 ,9 g5]al ,employees ( 
! ,dep>tm5t ( ,homel& ,security1 includ+
 ! ,secret>y ( ,homel& ,security1 !     
,secret>y's c\nselors1 ! ,assi/ant      
,secret>y = ! ,private ,sector1 !       
,director ( ,u4,s4 ,citiz5%ip &         

,immigration ,s]vices1 c\nselors to su* 
,director1 & ! ,*ief ( ,immigrant       
,inve/or ,programs at ,u4,s4 ,citiz5%ip 
& ,immigration ,s]vices1 %all act       
imp>tially & may n give pref]5tial      
treatm5t to any entity1 organization1 or
 individual 9 connection ) any aspect ( 
! immigrant visa program describ$ 9     
section #bjc7;b77#e7 ( ! ,immigration & 
,nationality ,act1 z am5d$ by section   
#b4  7b7 ,improp] activities ,activities
 t con/itute pref]5tial treatm5t "u     
subsection 7a7 %all include-- 7#a7 work+
 on1 or 9 any way attempt+ to influ5ce1 
9 a mann] n available to or accord$ to  
all o!r petition]s1 applicants1 & seek]s
 ( b5efits "u ! immigrant visa program  
describ$ 9 section #bjc7;b77#e7 ( !     
,immigration & ,nationality ,act1 z     
am5d$ by section #b1 ! /&>d process+ (  
an application1 petition1 or b5efit =-- 
7,a7 a regional c5t]2  7,b7 a new       
comm]cial ent]prise2  7,c7 an affiliat$ 
job-creat+ entity2 or  7,d7 any p]son or
 entity associat$ ) su* regional c5t]1  

new comm]cial ent]prise1 or affiliat$   
job-creat+ entity2 &  7#b7 meet+ or     
communicat+ ) p]sons associat$ ) !      
entities describ$ 9 p>agraph 7#a71 at ! 
reque/ ( su* p]sons1 9 a mann] n        
available to or accord$ to all o!r      
petition]s1 applicants1 & seek]s (      
b5efits "u su* immigrant visa program4  
7c7 ,report+ ( communications  7#a7     
,writt5 communication ,employees ( !    
,dep>tm5t ( ,homel& ,security1 includ+ !
 (ficials li/$ 9 subsection 7a71 %all   
include1 9 ! record ( proce$+ = a case  
"u section #bjc7;b77#e7 ( ! ,immigration
 & ,nationality ,act1 z am5d$ by section
 #b1 actual or electronic copies ( all  
case-specific writt5 communication1     
includ+ emails f gov]nm5t & private     
acc\nts1 ) non-,dep>tm5t p]sons or      
entities advocat+ = regional c5t]       
applications or individual petitions "u 
su* section t are p5d+ on or aft] ! date
 ( ! enactm5t ( ?is ,act 7o!r ?an r\t9e 
communications ) o!r ag5cies ( ! ,f$]al 
,gov]nm5t reg>d+ ! case1 includ+        

communications involv+ backgr\nd *ecks &
 litigation def5se74  7#b7 ,oral        
communication ,if sub/antive oral       
communication1 includ+ telephonic       
communication1 virtual communication1 & 
9-p]son meet+s1 takes place betwe5      
(ficials ( ! ,dep>tm5t ( ,homel&        
,security & non-,dep>tm5t p]sons or     
entities advocat+ = regional c5t]       
applications or individual petitions "u 
section #bjc7;b77#e7 ( ! ,immigration & 
,nationality ,act1 z am5d$ by section   
#b1 t are p5d+ on or aft] ! date ( !    
enactm5t ( ?is ,act 7o!r ?an r\t9e      
communications ) o!r ag5cies ( ! ,f$]al 
,gov]nm5t reg>d+ ! case1 includ+        
communications involv+ backgr\nd *ecks &
 litigation def5se7--  7,a7 !           
conv]sation %all be record$2 or  7,b7   
detail$ m9utes ( ! session %all be tak5 
& includ$ 9 ! record ( proce$+4  7#c7   
,notification  7,a7 ,9 g5]al ,if !      
,secret>y ( ,homel& ,security1 9 ! c\rse
 ( writt5 or oral communication describ$
 9 ?is subsection1 receives evid5ce ab\t

 a specific case f anyone o!r ?an an    
affect$ p>ty or 8 or h] repres5tative   
7exclud+ ,f$]al ,gov]nm5t or law        
en=cem5t s\rces71 su* in=mation may n be
 made "p ( ! record ( proce$+ & may n be
 consid]$ 9 adjudicative proce$+s       
unless--  7i7 ! affect$ p>ty has be5    
giv5 notice ( su* evid5ce2 &  7ii7 if   
su* evid5ce is d]ogatory1 ! affect$ p>ty
 has be5 giv5 an opportunity to respond 
to ! evid5ce4  7,b7 ,in=mation f law    
en=cem5t1 intellig5ce ag5cies1 or       
confid5tial s\rces  7i7 ,law en=cem5t or
 intellig5ce ag5cies ,evid5ce receiv$ f 
law en=cem5t or intellig5ce ag5cies may 
n be made "p ( ! record ( proce$+ )\t ! 
cons5t ( ! relevant ag5cy or law        
en=cem5t entity4  7ii7 ,:i/lebl[]s1     
confid5tial s\rces1 or intellig5ce      
ag5cies ,evid5ce receiv$ f :i/lebl[]s1  
o!r confid5tial s\rces1 or ! intellig5ce
 community t is includ$ 9 ! record (    
proce$+ & consid]$ 9 adjudicative       
proce$+s %all be h&l$ 9 a mann] t does n
 reveal ! id5tity ( ! :i/lebl[] or      

confid5tial s\rce1 or reveal classifi$  
in=mation4  7d7 ,consid]ation ( evid5ce 
7#a7 ,9 g5]al ,case-specific            
communication ) p]sons or entities t are
 n "p ( ! ,dep>tm5t ( ,homel& ,security 
may n be consid]$ 9 ! adjudication ( an 
application or petition "u section      
#bjc7;b77#e7 ( ! ,immigration &         
,nationality ,act1 z am5d$ by section   
#b1 unless ! communication is includ$ 9 
! record ( proce$+ ( ! case4  7#b7      
,waiv] ,! ,secret>y ( ,homel& ,security 
may waive ! application ( p>agraph 7#a7 
only 9 ! int]e/s ( national security or 
= inve/igative or law en=cem5t purposes4
  7e7 ,*annels ( communication  7#a7    
,email address or equival5t ,! ,director
 ( ,u4,s4 ,citiz5%ip & ,immigration     
,s]vices %all ma9ta9 an email acc\nt 7or
 equival5t means ( communication7 =     
p]sons or entities--  7,a7 ) inquiries  
reg>d+ specific petitions or            
applications "u ! immigrant visa program
 describ$ 9 section #bjc7;b77#e7 ( !    
,immigration & ,nationality ,act1 z     

am5d$ by section #b2 or  7,b7 seek+     
non-case-specific in=mation ab\t !      
immigrant visa program describ$ 9 su*   
section #bjc7;b77#e74  7#b7             
,communication only ?r\gh appropriate   
*annels or (fices  7,a7 ,ann\ncem5t (   
appropriate *annels ( communication ,n  
lat] ?an #dj days aft] ! date ( !       
enactm5t ( ?is ,act1 ! ,director (      
,u4,s4 ,citiz5%ip & ,immigration        
,s]vices %all ann\nce t ! only *annels  
or (fices by :i* indu/ry /akehold]s1    
petition]s1 applicants1 & seek]s (      
b5efits "u ! immigrant visa program     
describ$ 9 section #bjc7;b77#e7 ( !     
,immigration & ,nationality ,act1 z     
am5d$ by section #b1 may communicate ) !
 ,dep>tm5t ( ,homel& ,security reg>d+   
specific cases "u su* section 7except = 
communication made by applicants &      
petition]s pursuant to regul>           
adjudicatory proc$ures71 or             
non-case-specific in=mation ab\t ! visa 
program applicable to c]ta9 cases "u su*
 section1 are ?r\gh--  7i7 ! email      

address or equival5t *annel describ$ 9  
p>agraph 7#a72  7ii7 ! ,national ,cu/om]
 ,s]vice ,c5t] ( ,u4,s4 ,citiz5%ip &    
,immigration ,s]vices1 or any successor 
to t ,c5t]2 or  7iii7 ! ,cu/om] ,s]vice 
& ,public ,engagem5t ,directorate1 !    
,immigrant ,inve/or ,program ,(fice1 or 
any successor ag5cies4  7,b7 ,direction 
( incom+ communications  7i7 ,9 g5]al   
,employees ( ! ,dep>tm5t ( ,homel&      
,security %all direct communications    
describ$ 9 subp>agraph 7,a7 to ! *annels
 ( communication or (fices li/$ 9       
subp>agraph 7,a74  7ii7 ,rule (         
con/ruction ,no?+ 9 ?is subp>agraph may 
be con/ru$ to prev5t-- 7,i7 any p]son f 
communicat+ ) ! ,ombudsman ( ,u4,s4     
,citiz5%ip & ,immigration ,s]vices      
reg>d+ ! immigrant inve/or program "u   
section #bjc7;b77#e7 ( ! ,immigration & 
,nationality ,act1 z am5d$ by section   
#b2 or  7,,ii7 ! ,ombudsman f resolv+   
problems reg>d+ su* immigrant inve/or   
program "u section #deb ( ! ,homel&     
,security ,act ( #bjjb 7#f ,u4,s4,c4    

#bgb74  7,c7 ,log  7i7 ,9 g5]al ,!      
,director ( ,u4,s4 ,citiz5%ip &         
,immigration ,s]vices %all ma9ta9 a     
writt5 or electronic log (--  7,i7 all  
communications describ$ 9 subp>agraph   
7,a7 & communications f ,memb]s (       
,congress1 :i* %all ref]5ce--  7aa7 !   
date1 "t1 & subject ( ! communication2 &
  7bb7 ! id5tity ( ! ,dep>tm5t ( ,homel&
 ,security (ficial1 if any1 to :om !    
inquiry 0 =w>d$2  7,,ii7 ) respect to   
writt5 communications describ$ 9        
subsection 7c77#a7-- 7aa7 ! date on :i* 
su* communication 0 receiv$2  7bb7 !    
id5tities ( ! s5d] & addressee2 &  7cc7 
! subject ( su* communication2 &        
7,,iii7 ) respect to oral communications
 describ$ 9 subsection 7c77#b7-- 7aa7 ! 
date on :i* su* communication occurr$2  
7bb7 ! p>ticipants 9 ! conv]sation or   
meet+2 &  7cc7 ! subject ( su*          
communication4  7ii7 ,transp>5cy ,! log 
( communications describ$ 9 clause 7i7  
%all be made publicly available 9       
accordance ) section #eeb ( title #e1   

,unit$ ,/ates ,code 7commonly kn[n z !  
,fre$om ( ,in=mation ,act74  7#c7       
,publication ( in=mation ,if1 z a result
 ( a communication ) an (ficial ( !     
,dep>tm5t ( ,homel& ,security1 a p]son  
or entity inquir+ ab\t a specific case  
or ab\t ! immigrant visa program        
describ$ 9 section #bjc7;b77#e7 ( !     
,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aaec7;b77#e77 receiv$ g5]ally
 applicable & non-case-specific         
in=mation ab\t program requirem5ts or   
adm9i/ration t has n be5 made publicly  
available by ! ,dep>tm5t1 ! ,director ( 
,u4,s4 ,citiz5%ip & ,immigration        
,s]vices %all publi% su* in=mation on ! 
,u4,s4 ,citiz5%ip & ,immigration        
,s]vices website1 n lat] ?an #cj days   
aft] ! communication ( su* in=mation to 
su* p]son or entity1 z an update to !   
relevant ,frequ5tly ,ask$ ,que/ions page
 or by "s o!r comp>able me*anism4  7f7  
,p5alty  7#a7 ,9 g5]al ,any p]son :o    
int5tionally violates ! prohibition on  
pref]5tial treatm5t "u ?is section or   

int5tionally violates ! report+         
requirem5ts "u subsection 7c7 %all be   
discipl9$ 9 accordance ) p>agraph 7#b74 
7#b7 ,sanctions ,n lat] ?an #ij days    
aft] ! date ( ! enactm5t ( ?is ,act1 !  
,secret>y ( ,homel& ,security %all      
e/abli%1 9 addition to any crim9al or   
civil p5alties t may be impos$1 a       
graduat$ set ( sanctions bas$ on !      
sev]ity ( ! violation ref]r$ to 9       
p>agraph 7#a71 :i* may include writt5   
reprim&1 susp5sion1 demotion1 or        
removal4  7g7 ,rule ( con/ruction ,no?+ 
9 ?is section may be con/ru$ to modify  
any law1 regulation1 or policy reg>d+ ! 
h&l+ or disclosure ( classifi$          
in=mation4  7h7 ,no creation ( private  
"r ( action ,no?+ 9 ?is section may be  
con/ru$ to create or au?orize a private 
"r ( action to *all5ge a decision ( an  
employee ( ! ,dep>tm5t ( ,homel&        
,security4  7i7 ,effective date ,?is    
section1 & ! am5dm5ts made by ?is       
section1 %all take effect on ! date ( ! 
enactm5t ( ?is ,act4  #d4 ,treatm5t (   

p]iod = purposes ( naturalization       
,section #baf;,a7e7 ( ! ,immigration &  
,nationality ,act 7#h ,u4,s4,c4         
#aahf;b7e77 is am5d$ to read z foll[s3  
7e7 ,treatm5t ( p]iod = purposes (      
naturalization ,= purposes ( title      
,,iii1 an ali5 :o is 9 ! ,unit$ ,/ates z
 a lawful p]man5t resid5t on a          
conditional basis "u ?is section1 ^u    
favorable det]m9ation & removal ( !     
conditional basis ( ! ali5's lawful     
p]man5t resid5t /atus "u subsection     
7c77#c77;,b71 %all be consid]$ to h be5 
admitt$ z an ali5 lawfully admitt$ to ! 
,unit$ ,/ates = p]man5t resid5ce4  4    
#e4 ,concurr5t fil+ ( ,,eb-#e petitions 
& applications = adju/m5t ( /atus       
,section #bde ( ! ,immigration &        
,nationality ,act 7#h ,u4,s4,c4 #abee7  
is am5d$-- 7#a7 9 subsection 7k7--  7,a7
 9 ! matt] prec$+ p>agraph 7#a71 by     
/rik+ or 7#c7 & ins]t+ 7#c71 or 7#e72 & 
7,b7 9 p>agraph 7#a71 by add+ & at !    
end2 &  7#b7 by add+ at ! end ! foll[+3 
7n7 ,if ! approval ( a petition =       

classification "u section #bjc7;b77#e7  
w\ld make a visa imm$iately available to
 ! ali5 b5efici>y1 ! ali5 b5efici>y's   
application = adju/m5t ( /atus "u ?is   
section %all be consid]$ to be prop]ly  
fil$ :e!r ! application is submitt$     
concurr5tly )1 or subsequ5t to1 ! visa  
petition4  4  #f4 ,p>ole /atus =        
petition]s & dep5d5ts await+            
availability ( an immigrant visa  7a7   
,au?orization ,section #bab7;d77#e7 ( ! 
,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aahb7;d77#e77 is am5d$-- 7#a7
 9 subp>agraph 7,a71 by /rik+ ,!        
,attorney ,g5]al may1 except z provid$ 9
 subp>agraph 7,b7 or 9 section #bad7;f71
 9 8 discretion p>ole into ! ,unit$     
,/ates tempor>ily "u su* conditions z he
 may prescribe only on a case-by-case   
basis & ins]t+ ,except z provid$ 9      
subp>agraph 7,c7 & section #bad7;f71 !  
,secret>y ( ,homel& ,security may       
tempor>ily p>ole into ! ,unit$ ,/ates1  
"u su* conditions z ! ,secret>y may     
prescribe1 on a case-by-case basis12    

7#b7 by r$esignat+ subp>agraph 7,b7 z   
subp>agraph 7,c72 &  7#c7 by ins]t+ aft]
 subp>agraph 7,a7 ! foll[+3  7,b7 ,!    
,secret>y ( ,homel& ,security1 9 !      
,secret>y's discretion1 may tempor>ily  
p>ole into ! ,unit$ ,/ates1 "u su*      
conditions z ! ,secret>y may prescribe1 
any ali5 :o is ! b5efici>y ( a petition 
= immigrant /atus "u section            
#bjc7;b77#e7 7includ+ ! sp\se or *ild ( 
su* pr9cipal ali51 if eligible to       
receive a visa "u section #bjc7;d77 if--
  7i7 su* petition has be5 p5d+ = at    
lea/ #c ye>s2 or  7ii7 7,i7 su* petition
 has be5 approv$2  7,,ii7 #c ye>s or m h
 elaps$ s9ce ! petition 0 fil$2 &       
7,,iii7 an immigrant visa is n          
imm$iately available to ! ali5 because !
 total numb] ( visas issu$ "u section   
#bjc7;b77#e7 has rea*$ ! maximum numb] (
 visas t may be made available to       
immigrants ( ! ,/ate or area "u section 
#bjc7;b74  4  7b7 ,employm5t            
au?orization = ali5 inve/ors  7#a7 ,9   
g5]al ,! ,secret>y ( ,homel& ,security  

may-- 7,a7 au?orize any ali5 describ$ 9 
section #bab7;d77#e77;,b7 ( !           
,immigration & ,nationality ,act1 z add$
 by subsection 7a71 to engage 9         
employm5t 9 ! ,unit$ ,/ates2 &  7,b7    
provide ! ali5 ref]r$ to 9 subp>agraph  
7,a7 ) appropriate endorsem5t ( !       
au?orization "u su* subp>agraph4  7#b7  
,fees  7,a7 ,9 g5]al ,! ,secret>y may   
assess a fee = provid+ an employm5t     
au?orization endorsem5t "u p>agraph 7#a7
 9 an am\nt equal to n m ?an ! av]age   
co/ incurr$ by ! ,secret>y 9 adjudicat+ 
applications = su* endorsem5t4 ,!       
,secret>y may provide = ! paym5t ( su*  
fees by in/allm5ts4  7,b7 ,sav+s        
provision ,no?+ 9 ?is p>agraph may be   
con/ru$-- 7i7 to require ! ,secret>y to 
*>ge fees = adjudication s]vices provid$
 to ali5 inve/ors2 or  7ii7 to limit !  
au?ority ( ! ,secret>y to set           
adjudication & naturalization fees4