Comprehensive Immigration Reform Act of 2010

The American Immigration Lawyer’s Association has posted a section-by-section summary of the Comprehensive Immigration Reform Act of 2010 (S. 3932), introduced by Senator Menendez (D-NJ) and Senator Leahy (D-VT) on 9/29/10. This act proposes significant changes to the EB-5 program (see pages 43-45 and 52 of the PDF), which I summarize as follows:

  • The “permanent partner” of an alien entrepreneur would have the same rights as a spouse.
  • The fee to apply for regional center designation would be $2500.
  • Investors could pay a $2500 fee to guarantee visa processing within 60 days. The creation of a premium processing program for EB-5 would be authorized.
  • An adjustment application could be submitted concurrently with a visa petition (??).
  • The definition of “Targeted Employment Area” would be expanded beyond high-unemployment and rural areas to cover areas of population decrease, areas designated in connection with government economic incentive programs, and State-designated TEA areas.
  • Investors could extend by two years the time for filing an I-829. (This would provide a possible total 4.5 years for the investment to succeed and create jobs.)
  • Investment could create full time OR “full-time equivalent” jobs (which would allow adding up hours worked by part time employees).

I must say I’m not impressed with the EB-5 portion of this legislation. It includes some attractive but probably unapprovable proposals (premium processing and broad TEA definition for example) while omitting (so far as I can find) the single most important EB-5 issue: making the regional center program permanent, or at least extending it beyond the current sunset in 2012.

About Suzanne (www.lucidtext.com)
Lucid Professional Writing provides writing and editing services for businesses and scholars, and specializes in assisting clients to prepare business plans for filing with U.S. Citizenship and Immigration Services.

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