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S. 232: A bill to terminate the EB-5 Visa Program and to reallocate the employment creation visas to the other employment-based visa classifications.

We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 24, 2017.

This bill amends the Immigration and Nationality Act to eliminate the EB-5 visa category.

The number of fiscal year immigrant visas available for the following employment categories is increased: (1) priority workers; (2) members of the professions with advanced degrees or persons of exceptional ability; (3) skilled workers, professionals, and certain unskilled workers; and (4) certain special immigrants.

The Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 is amended to terminate the EB-5 regional center pilot program.

The EB-5 visa provides lawful permanent residence to foreign nationals who invest (directly or through a regional center) a specified amount of capital in a new commercial enterprise in the United States and create at least 10 jobs.