H.R. 2131
The SKILLS Visa Act
Introduced in the House of Representatives by
Congressman Darrell Issa (R-CA) and 22 Republican
cosponsors
On May 23, 2013
Proposes:
The EB-5 provisions of the SKILLS Visa Act are part
of a wider program of immigration reform proposed by
the legislation. According to Rep. Issa’s spokesperson,
“the SKILLS Visa Act’s EB-5 reforms will modernize the
program, established over two decades ago, to ensure the
United States has a competitive investor visa program
that creates U.S. jobs.”
★
• Making the EB-5 regional center
program permanent
• Extending the conditional permanent residency
period an additional year, in certain cases, to
allow investors more time for job creation
Congressman Darrell Issa
• Tying the minimum required investment amount
to the consumer price index to adjust for inflation
• Setting a uniform methodology for
the designation of TEAs under the
discretion of the Secretary of Labor
• Barring from participation in regional center
operations any individuals that have been
convicted of certain crimes, including fraud
• Granting the Department of Homeland Security
the authority to terminate any regional center
found to be involved in fraudulent activities
or out of compliance with SEC regulations
“We should improve our legal immigration programs so
that they boost economic growth and job creation here at
home. The investor visa program is an important part of
meeting this goal as it helps grow our economy and create jobs
for Americans through capital investment by foreign investors. I recently met with U.S. Citizenship and Immigration
Services officials who oversee the EB-5 program. At the meeting, I voiced my support for the program and also expressed
concern about the long approval process for investor petitions
and regional center applications.
We should build upon the success of the regional pilot
project by making it permanent. We should also strengthen
the program to maintain its integrity and ensure it runs as
effectively and efficiently as possible.”
–Chairman Bob Goodlatte
Chairman Bob Goodlatte
Continued on page 56
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