On July 27 of this year, a new proposal unexpectedly emerged, introduced by Pennsylvania Representatives Brian K. Fitzpatrick and Dwight Evans, H.R.3471, "American Job Creation and Investment Into Public Works Reform Act of 2017."
The main content of this proposal is based on the previous proposal text by House Judiciary Committee Chairman Goodlatte, summarized as follows:
1. Extension:
5 years, until September 30, 2022;
2. Minimum Investment Amount:
2.1 $800,000 for TEA projects + infrastructure projects + manufacturing projects;
2.2 $1,200,000 for other projects
3. Effective Date:
The bill will take effect immediately upon passage (or at least within 90 days), but exemptions will apply to the following applications:
3.1 Applications submitted before June 1, 2015;
3.2 Applications submitted between June 1, 2015, and the effective date of the bill that are part of projects with submitted exemplar applications before June 1, 2015;
3.3 Applications for I-829 submitted before June 1, 2015, or those approved before the bill's effective date;
4. Visa Reservation:
1,500 visas reserved for rural areas and 1,500 for urban priority areas, with visa reservations starting from October 1, 2016.
5. Definition of Urban Priority Areas:
1. Unemployment rate exceeding 150% of the national average; and
2. Poverty rate exceeding 30% or median household income below 60% of the state or regional level;
6. Definition of TEA (Target Employment Area):
1. Urban priority areas;
2. Rural areas;
3. Military bases closed within the last 25 years;
4. Areas outside metropolitan regions with a poverty rate of at least 20% or median household income below 80% of the state or regional level;
This proposal, while inheriting the main spirit of Goodlatte's proposal, significantly expands the visa reservation to 6,000 slots, and in addition to reserving for rural and underdeveloped urban areas, it also includes government infrastructure projects.
Urban Priority Areas
The concept of "Urban Priority Areas" in the congressional reform proposal has attracted significant attention. It addresses the "waiting period" issue that investors are currently facing by introducing the concepts of "Visa Reserved Areas (VRA)" and "Visa Quota Reservation," planning to reserve 2,000 green card slots annually for urban priority areas, allowing investors in these regions to "jump the line" for priority allocation of green card slots. The emergence of visa reservation slots for "Urban Priority Areas" indeed presents a significant historical opportunity to shorten the waiting period.
The two main concerns of EB-5 investors are, "When can I obtain a green card?" and "Can I get my investment back?" The EB-5 program is essentially a form of venture capital, but the risks can vary and can be effectively managed.
U.S. investment immigration is eagerly awaiting the upcoming project—Manhattan 9, which is set to make a stunning debut. This project is the first EB-5 project in an urban priority investment area in Manhattan, expected to shorten the waiting period and quickly obtain green cards!
WorldWay Immigration Group is the exclusive agent for the Manhattan 9 EB-5 project in the Greater China region! This rare high-quality EB-5 project allows one application to secure green cards for the entire family. Immigrate to the United States now, as slots are limited and available on a first-come, first-served basis.