Allocations of immigrant Visas (J) EB–5 Integrity Fund

(i) Establishment

A special fund known as the "EB–5 Integrity Fund" (referred to as the "Fund") is established in the United States Treasury. Amounts deposited into the Fund are available to the Secretary of Homeland Security for the purposes outlined in clause (iii).

(ii) Fees

(I) Annual Fee: Commencing on October 1, 2022, and annually thereafter, the Secretary of Homeland Security shall collect an annual fee for the Fund as follows: (aa) $20,000 from each regional center designated under subparagraph (E), unless exempted by item (bb); (bb) $10,000 from each regional center with 20 or fewer total investors in the previous fiscal year in its new commercial enterprises. (II) Petition Fee: Starting October 1, 2022, the Secretary shall collect a $1,000 fee for the Fund with each petition filed under section 1154(a)(1)(H) of this title for classification under subparagraph (E). (III) Increases: The Secretary may adjust these fees as necessary through regulations to ensure adequate funding for the Fund's purposes.

(iii) Permissible Uses of Fund

The Secretary shall utilize the Fund as follows: (I) At least one-third of the deposited amounts for investigations outside the United States, including monitoring and investigating program-related events and promotional activities, and ensuring alien investors' compliance with subparagraph (L). (II) Other purposes, including detecting and investigating fraud or other crimes, ensuring compliance with immigration laws, conducting audits and site visits, and any other necessary monitoring.

(iv) Failure to Pay Fee

The Secretary of Homeland Security shall: (I) Impose a reasonable penalty, deposited into the Fund, if any regional center fails to pay the fee within 30 days of its due date; (II) Terminate the designation of any regional center that fails to pay the fee within 90 days of its due date.

(v) Report

The Secretary shall annually report to the Senate Committee on the Judiciary and the House Committee on the Judiciary detailing the previous fiscal year's expenditures from the Fund.

(K) Direct and Third-Party Promoters

(i) Rules and Standards

Direct and third-party promoters, including migration agents, must adhere to rules and standards set by the Secretary of Homeland Security and relevant federal or state securities laws regarding promotion of securities offerings related to the EB–5 Program, including: (I) Registration with U.S. Citizenship and Immigration Services, potentially publicly available; (II) Certification of promoter eligibility; (III) Guidelines for accurately representing the visa process to foreign investors; (IV) Guidelines for permissible fee arrangements under applicable securities and immigration laws.

(ii) Effect of Violation

The Secretary shall suspend or permanently bar any direct or third-party promoter found to violate these rules and standards.

(iii) Compliance

Each regional center, new commercial enterprise, and affiliated job-creating entity must maintain a written agreement with each direct or third-party promoter outlining prescribed rules and standards.

(iv) Disclosure

Each petition filed under section 1154(a)(1)(H) of this title must include a disclosure signed by the investor, reflecting all compensation paid or to be paid to any person involved in the investment, including agents, finders, or broker-dealers, not already identified in the filed business plan under subparagraph (F).

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