H.R. 6992: EB–5 Regional Center Program Advisory Committee Authorization Act

This bill, titled the EB–5 Regional Center Program Advisory Committee Authorization Act, aims to create an advisory committee within the U.S. Citizenship and Immigration Services (USCIS) that will focus on the EB–5 Regional Center Program. The bill specifies several key components:

Establishment of the Advisory Committee

The Secretary of Homeland Security is tasked with establishing the EB–5 Regional Center Program Advisory Committee. This committee will operate until all related immigration applications (under the EB–5 program) have been processed, as defined by existing U.S. immigration laws.

Duties of the Committee

The Advisory Committee will have several responsibilities, including:

• Advising and consulting with the USCIS Director on matters related to the EB–5 Regional Center Program.
• Making recommendations for improvements to the program.
• Submitting periodic reports about their activities to the Director and providing an annual report detailing their findings and recommendations.
• Providing quarterly updates to Congress on their activities.

Membership Composition

The Advisory Committee will comprise up to 35 members, ensuring a diverse representation of stakeholders:

• Members will include representatives from various levels of government (federal, state, local, and tribal) and from EB–5 regional centers that are recognized and compliant with the EB–5 Reform and Integrity Act of 2022.
• The committee must include at least two representatives from different project categories such as high unemployment areas, rural areas, and various census regions.
• Additional members may be appointed from categories such as mayors of cities of various sizes and economic development officers for urban, suburban, and rural areas.

Term and Regulations

Committee members will serve a two-year term but can continue serving until a successor is appointed. The committee is not compensated by the government for their service, with exceptions for federal employees.

The Director of USCIS will be responsible for reviewing member participation and has the authority to remove members as necessary.

Meetings and Reporting

The Advisory Committee is required to meet at least quarterly, with at least one meeting open to the public. They will maintain records of attendance and select a chairperson and specific chairs for any established subcommittees.

Subcommittees

The Advisory Committee can form subcommittees to address specific issues related to the EB–5 Regional Center Program, focusing on areas like:

• Administration of petitions and fraud prevention.
• Impact assessments related to job creation and capital investment.
• Policy issues and compliance with existing legislation.

Each subcommittee will also be required to meet regularly and provide updates for inclusion in the annual report.

Conformance with Existing Laws

The bill stipulates that its provisions must not conflict with current laws, specifically referencing the EB–5 Reform and Integrity Act of 2022.

Relevant Companies

None found.