(i) General Provisions Visas under this subparagraph will be available through September 30, 2027, for qualified immigrants (and their eligible spouses and children) who pool their investments with one or more qualified immigrants participating in a program implementing this paragraph. The program involves a regional center in the United States designated by the Secretary of Homeland Security based on a proposal promoting economic growth, including prospective job creation and increased domestic capital investment.
(ii) Processing In processing petitions under section 1154(a)(1)(H) of this title for classification under this paragraph, the Secretary of Homeland Security: (I) shall prioritize the processing and adjudication of petitions for rural areas; (II) may process petitions in a manner and order established by the Secretary; and (III) shall consider such petitions to include records previously filed with the Secretary under subparagraph (F) if the alien petitioner certifies that such records are incorporated by reference into the alien's petition.
(iii) Establishment of a Regional Center A regional center must operate within a defined, contiguous, and limited geographic area, described in the proposal, consistent with the purpose of concentrating pooled investment within that area. The proposal to establish a regional center must demonstrate that the pooled investment will have a substantive economic impact on the geographic area. It must include: (I) reasonable predictions supported by economically and statistically valid forecasting tools concerning pooled investment amounts, commercial enterprises receiving investments, details of jobs created directly or indirectly, and other positive economic effects; (II) a description of policies and procedures reasonably designed to monitor new commercial enterprises and associated job-creating entities for compliance with applicable laws, regulations, and Executive orders, including immigration, criminal, and securities laws, as well as state securities laws; (III) attestations and information confirming that all persons involved with the regional center meet requirements under subparagraph (H)(i) and (ii); (IV) a description of policies and procedures reasonably designed to ensure program compliance; and (V) the identities of all natural persons involved in the regional center, as described in subparagraph (H)(v).
(iv) Indirect Job Creation (I) In general The Secretary of Homeland Security will allow aliens seeking admission under this subparagraph to satisfy up to 90 percent of the requirement under subparagraph (A)(ii) with jobs estimated to be created indirectly through investment under this paragraph. An employee of the new commercial enterprise or job-creating entity may be considered to hold a directly created job. (II) Construction Activity Lasting Less Than 2 Years If jobs are estimated to be created by construction activity lasting less than 2 years, aliens seeking admission under this subparagraph may satisfy up to 75 percent of the requirement under subparagraph (A)(ii) with jobs estimated to be created indirectly through investment under this paragraph.
(v) Compliance (I) In general In determining compliance with subparagraph (A)(ii), the Secretary of Homeland Security will permit aliens seeking admission under this subparagraph to rely on economically and statistically valid methodologies for determining the number of jobs created by the program, including: (aa) jobs estimated to have been created directly, verified using such methodologies; and (bb) consistent with this subparagraph, jobs estimated to have been directly or indirectly created through capital expenditures, increased exports, improved regional productivity, job creation, and increased domestic capital investment resulting from the program. (II) Job and Investment Requirements (aa) Relocated Jobs The Secretary may include jobs estimated to be created under a methodology attributing jobs to prospective tenants occupying commercial real estate created or improved by capital investments if the number of such jobs estimated to be created has been determined by an economically and statistically valid methodology and such jobs are not existing jobs that have been relocated. (bb) Publicly Available Bonds The Secretary shall prescribe regulations to ensure that alien investor capital may not be utilized, by a new commercial enterprise or otherwise, to purchase municipal bonds or any other bonds available to the general public, either as part of a primary offering or from a secondary market. (cc) Construction Activity Jobs If the number of direct jobs estimated to be created has been determined by an economically and statistically valid methodology, and such direct jobs are created by construction activity lasting less than 2 years, the number of such jobs that may be considered direct jobs for purposes of clause (iv) shall be calculated by multiplying the total number of such jobs estimated to be created by the fraction of the 2-year period that the construction activity lasts.
(vi) Amendments The Secretary of Homeland Security shall: (I) require a regional center: (aa) to notify the Secretary, at least 120 days before implementing significant proposed changes to its organizational structure, ownership, or administration, including the sale of the center or other arrangements resulting in individuals not previously subject to requirements under subparagraph (H) becoming involved with the regional center; or (bb) if exigent circumstances are present, to provide the notice described in item (aa) to the Secretary no later than 5 business days after a change described in such item; and (II) adjudicate business plans under subparagraph (F) and petitions under section 1154(a)(1)(H) of this title during any notice period as long as the amendment to the business or petition does not negatively impact program eligibility.
(vii) Record Keeping and Audits (I) Record Keeping Each regional center shall make and preserve, for the 5-year period starting on the last day of the Federal fiscal year in which any transactions occurred, books, ledgers, records, and other documentation from the regional center, new commercial enterprise, or job-creating entity. This documentation is used to support: (aa) any claims, evidence, or certifications contained in the regional center's annual statements under subparagraph (G); and (bb) associated petitions by aliens seeking classification under this section or removal of conditions under section 1186b of this title. (II) Audits The Secretary shall audit each regional center no less frequently than once every 5 years. Each audit shall include a review of any documentation required to be maintained under subclause (I) for the preceding 5 years and a review of the flow of alien investor capital into any capital investment project. If multiple regional centers are located at a single site, the Secretary may audit multiple regional centers in a single site visit. (III) Termination The Secretary shall terminate the designation of a regional center that fails to consent to an audit under subclause (II) or deliberately attempts to impede such an audit.
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