Text of EB-5 law enacted as of March 15, 2022

H.R.2471 – Consolidated Appropriations Act, 2022 was enacted on March 15, 2022, and contains the EB-5 Reform and Integrity Act of 2022 in Division BB (PDF page 1022 of the enrolled bill). This means that the regional center program will have a new authorization and new requirements as of May 15, 2022, and other EB-5 program changes are effective as of March 15, 2022 as I discussed in my previous post.

Now we wait for USCIS and Department of State to react with their interpretation and applications of the new EB-5 law. So far, the USCIS EB-5 page has still not been updated since December 2021. I hereby predict that the USCIS page will be updated later this week with one sentence saying “We are evaluating the EB-5 Reform and Integrity Act enacted on March 15, 2022 and will provide additional guidance as soon as practical,” followed by silence. But surprise me, USCIS! (3/17 UPDATE: The USCIS page is now updated to say almost exactly what I predicted.) The April 2021 Visa Bulletin published today has RC category Unavailable in Part A and mostly Current in Chart B, makes no changes yet to reserved visa categories, and says “The Consolidated Appropriations Act, 2022, which reauthorizes and reforms the EB-5 Immigrant Investor Regional Center Program, was signed by the President of the United States on March 15, 2022. Certain Regional Center Program aspects of this legislation go into effect 60 days after the date of the enactment of this Act. More information will be published in coming editions of the Visa Bulletin.”

Pending official interpretation, I’m continuing to update the Reauthorization page on this blog with links to a selection of industry articles and upcoming webinars, as they come to my attention.

In case this helps anyone else’s sanity and clarity, I’m sharing a folder of Word documents that I made for myself. The folder includes:

  • The text of the EB-5 Reform and Integrity Act of 2022 with heading styles applied. The text is copied from the “enrolled bill” version of H.R.2471 at Congress.gov (which has a few minor tweaks from the EB-5 bill text first released on March 6). I formatted to flag six layers of headings so that I can always track where I am using Word’s Navigation Pane.
  • The text of Immigration and Nationality Act sections referenced in the EB-5 Reform and Integrity Act of 2022, with headings applied. I didn’t redline the new law changes onto the INA (I just copied INA excerpts as-is), but at least this facilitates looking back and forth to see changes in context. We must be able to follow section headings in order to translate innocuous-looking sentences like “An alien seeking to pool his or her investment with 1 or more additional aliens seeking classification under section 203(b)(5) shall file for such classification in accordance with section 203(b)(5)(E)” and realize the explosive meaning: “from now on, an EB-5 investor may only invest with other EB-5 investors through a regional center; pooled direct EB-5 is no longer an option for new I-526.”
  • A document comparison showing the EB-5 Reform and Integrity Act of 2022 red-lined on the base of S.831 – EB–5 Reform and Integrity Act of 2021. S.831 is the bill that Senators Leahy and Grassley introduced back in March 2021 and  tied to pass last June before the RC program expired. No surprise considering Senator Leahy’s negotiating position, document comparison shows that the new EB-5 law largely reproduces S.831. There were no changes to the S.831 integrity measures, and no backlog relief additions. Negotiations just added higher investment amounts, new visa restrictions, new TEA definitions, redeployment policy, and grandfathering protection for the future.

I’m occupied with business plan deadlines at the moment, but will write more as soon as possible about reserved visas, the new EB-5 law change that most concerns me as resident EB-5 data collector and backlog Cassandra.

About Suzanne (www.lucidtext.com)
Suzanne Lazicki is a business plan writer, EB-5 expert, and founder of Lucid Professional Writing. Contact me at suzanne@lucidtext.com (626) 660-4030.

42 Responses to Text of EB-5 law enacted as of March 15, 2022

  1. C says:

    The industry barons took us for a nonsensical ride for nearly 1 year. They thought they were too big to be left high and dry. Leahy and Grassley showed them otherwise as proved by the comparison.
    Did they learn something? Will they be able to work together to improve the program’s image with Congress through effective lobbying? Will they attempt in any way to impact USCIS’ processing times? Or will they continue, as before, to sell more and more, without worrying about delivering what was promised and paid for? There is no higher integrity than that.
    Time will tell.

  2. veedster says:

    Honestly, to my layman’s eye, from the beginning LG bill s.831 was the right bill, , except that it didn’t provide any backlog relief as Suzanne pointed out. LG wanted to stamp out the shady RCs ,shady operators , promoters, from NYC to LA , and at the end LG prevailed. Grandfathering was a feather in the cap for AIIA.
    All those who opposed and caused the log jam should be lined up against a wall.

  3. Tom G. says:

    With processing times what they are and increased investment amounts I do not believe the program will be attractive. I started my process in Dec. 2014, was never subject to any visa availability restriction, always filed as quickly as possible, and still have no decision on my I-829 as of this day (filed March 2019). Had I known this would I have done it? I do not think so. And now I would have to invest $800k and IPO is processing a handful of petitions a day (and fewer every quarter)? Definitely not.

  4. alnawat says:

    Suzanne thank you for your efforts to help me to understand the mysterious mayhem for an individual investor who are stuck between USCIS, regulations, regional centers and immigration while meantining personal welfare. You are my only hope for plain truth because neither USCIS nor regional centers will be straight with investors.
    I believe many others are with me on this.
    Thank you and keep up the great work

  5. C says:

    Fully agree! Also started in Dec 2014. Filed for I829 in July 2019. No decision as of today. I am under the impression they have largely been working on WOMs since lapse.

  6. james says:

    The new passed bill is not significantly different from S831, but the only difference is,

    New Yoke beneficial parties held tens thousands of Chinese EB5 investors as hostages and made a great deal with G/L, they discard online Chinese EB5 investors and decrease the invest amount of City Tea. GOOD JOB!!!!!!!!!!!!!!

    They wouild try their best to hold Chinese money as long as possible, and pretend be a crowd of decent men.
    AIIA did it for their benefit with only tens of thousands of dollar, while Chinese investors paid tens of billions but were betrayed completely, what a ridiculous story, this story has only one word: ugliness !

  7. Sam says:

    “U” means unauthorized, i.e., numbers are not authorized for issuance.
    Is it the case now?!

  8. Mahendra Tated says:

    I have my files at the US Consulate in Mumbai but they have been stuck due to Covid earlier and later due to the EB-5 regional center authorization lapse, but since Congress passed the reauthorization bill what shall I do?

  9. RC says:

    So what happened to grandfathering of current investors if they still have part A as Unavailable When does that start? Do we have to wait 60 days? I thought grandfathering was immediate.

  10. C says:

    As you have predicted, Suzanne 🙂 https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program

    USCIS Announces New EB-5 Regional Center Program

    On March 15, President Biden signed a law that includes authority for an EB-5 Immigrant Investor Regional Center Program and various implementation effective dates for the program. The program will be in effect through Sept. 30, 2027. We are reviewing the new legislation and will provide additional guidance.

  11. Loan Nguyen says:

    Suzanne, I thought you have a typo of “the April 2021 Visa Bulletin

  12. Jaimin Deliwala says:

    Suzanne,

    In the lighter vein;

    Your this blog page contains following, under the heading ‘Alert” on right side of blog page.

    “The EB-5 regional center program expired on June 30, 2021, and needs to be reauthorized. Visit the Re-authorization page for more information and advocacy resources.”

    is it the right time to remove it?

  13. RC says:

    Any updates on when NVC and USCIS are going to start processing current investors?

  14. FCL says:

    is there any hope to have any other feedback from USCIS before may 15th ? what could be the timeframe ? Don’t they have any legal requirement ??

  15. SZ says:

    Anyone know where I can inquiry about whether I can file my 485 right now or after 60 days ? Lawyers have different interpretations. I check the USCIS website, hard to find an email address or the right place to submit my inquiry.

    • Shawn says:

      If your i526 is not approved then it’s better you wait 60 days. If it’s approved then for filling i485 you need to check Final Action Date Chart B, which is current for EB5 RC program except if your from China. Worst case scenario USCIS rejects your application and you get the refund of the entire amount paid.

  16. Killian says:

    It would be great if anyone can explain this to me. I am still new and perplexed with the influx of information:

    I came from Vietnam and my I526 was approved. I was about to file my I485 right before the EB5 program lapsed. My priority date is May 2018. As far as I know, Vietnam’s priority date became current (C) right before the EB5 program shut down in July 2021.

    Does that mean that when the bill become effective after 60 days, I can file my I485 and there will be a visa/green card available for me?

    Any information/advices would be greatly appreciated

    • Shawn says:

      Yes you can file for your i485 based on an approved i526. Refer to April 2022 visa bulletin final action chart B.

  17. Rg says:

    Has anyone received any info on when USCIS and NVC will start processing current applications yet?

  18. FCL says:

    Everyine was wrong (joke): USCIS has not been silent for long. they have just updated their post about EB5 : now says that they will provide information at a later date… if anyone knows how it can help, let me know !!

  19. Amin says:

    My I526 was approved last year and I got the fee bill and paid online and was under submitting DS260 when the program lapsed last year so until today NVC not reopen the portal to submit my DS260 has anyone any update on this.

    Thank you,

    • Bunuel Yang says:

      I also got approved the I-526 in February 2021, and then submitted the DS-260. After the budget was suspended, I have not received a notification from the NVC!

    • AILA and AIIA, at least, have been trying to get updates from Department of State, and I haven’t heard results yet. I’ll report when I hear something. And if you see any action, please let us know.

      • Amin says:

        Thank you very much Suzanne, I will update once I heard the portal is open and we would appreciate to hear usual updates from you.

        • Amin says:

          Hello Suzanne & All, Just would like to let you know that the portal has been open now to submit DS260 for your info.

    • zafar says:

      Hi Amin, can you please guide me how to pay NVC fee online, I tried but it didn’t work, system says only can be paid through US bank.

      • RC says:

        Hi Zafar, can you access your nvc account online? Is it open since the reauthorisation?

      • Amin says:

        Hello Zafar,
        you can process from a US bank account only if you know someone in US and having a bank account can do that or you can process through your attorney and they will charge some fee to do that.

  20. Federico says:

    Hello,

    Thank you for your informational blog. I submitted all my EB5 documents and had my first interview in 2018, in Italy. After that, I was placed on DS5535, and was called for another interview on November 2021. At my second interview I was told that everything was ok, and that I would be issued my documents when they became available. What am I looking at here? Will I finally receive my visa this year? Will I have to invest another $300k? I would really like to know what is in store for me since both USCIS and the consulate have been mute ever since.

    • Very definitely you won’t have to invest another $300K. It may take Department of State awhile to get itself organized, and remember and take up your case. Your lawyer might have ideas on how to remind DOS that you’re still waiting. If you’re an RC applicant, you’ll probably have to wait until after May 15, 2022 at least (unless AIIA succeeds earlier in reminding DOS that grandfathering applies immediately).

      • Federico says:

        Wow, thank you so much for the prompt response. Considering I had my interview in November of 2022, will I have to have another interview and medical or will the issuance of my visa take place automatically?

Leave a Reply to C Cancel reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.