(1) In general

Except as provided in paragraph (2), aliens eligible for diversity immigrant visas, subject to the worldwide level specified in section 1151(e) of this title, shall be allocated visas each fiscal year as follows:

(A) Determination of preference immigration

The Attorney General shall determine, based on data available for the most recent previous 5-fiscal-year period, the total number of aliens who are natives of each foreign state and who (i) were admitted or otherwise granted lawful permanent resident status (other than under this subsection), and (ii) were subject to the numerical limitations of section 1151(a) of this title (other than paragraph (3) thereof), or who were admitted or otherwise granted lawful permanent resident status as an immediate relative or other alien described in section 1151(b)(2) of this title.

Before approving any petition filed by an alien under section 1154(a)(1)(H) of this title, the Secretary of Homeland Security must conduct a search for the alien and any associated employer of the alien on the Specially Designated Nationals List of the Department of the Treasury Office of Foreign Assets Control.

(i) In general, Every new commercial enterprise must establish and maintain a separate account for each alien investor's capital investment, including funds held in escrow.

(ii) Use of funds: Funds in a separate account may only be: (I) Transferred to another separate account or a job creating entity; (II) Deployed into the intended capital investment project; or (III) Refunded to the contributing alien investor's capital investment, if permitted under this paragraph.

The Secretary of Homeland Security shall deny or revoke the approval of a petition, application, or benefit described in this paragraph if, in the Secretary's discretion, it is determined that such petition, application, or benefit involved fraud, deceit, intentional material misrepresentation, or criminal misuse, subject to subparagraph (M).

(ii) Debarment If a regional center, new commercial enterprise, or job-creating entity has its designation or participation in the program under this paragraph terminated due to fraud, intentional material misrepresentation, or criminal misuse, any individual associated with such entities, including an alien investor, shall be permanently barred from future participation in the program if the Secretary determines, by a preponderance of the evidence, that such individual knowingly participated in the conduct leading to the termination.

Secretary of Homeland Security Alejandro N. Mayorkas has announced the extension and redesignation of Burma for Temporary Protected Status (TPS) for a duration of 18 months, effective from May 26, 2024, to November 25, 2025. This decision is in response to the extraordinary and temporary conditions prevailing in Burma that pose risks to the safety of individuals, preventing their safe return.

(i) Denial or revocation The Secretary of Homeland Security shall deny or revoke the approval of a petition, application, or benefit described in this paragraph if, in the Secretary's discretion, such approval is deemed contrary to the national interest of the United States due to concerns regarding public safety or national security.

(i) Termination or debarment of EB–5 entity Unless specified in clause (vi), when a regional center, a new commercial enterprise, or a job-creating entity is terminated or debarred from the program under this paragraph: (I) A qualified petition under section 1154(a)(1)(H) of this title or the conditional permanent residence status of an alien admitted to the United States based on an investment in a terminated regional center, new commercial enterprise, or job-creating entity shall remain valid or continue to be authorized, as applicable, in accordance with this subparagraph.

(i) General Requirement

An alien investor must demonstrate that the capital required under subparagraph (A) and any funds used for administrative costs and fees associated with the investment were obtained from a lawful source and through lawful means.

(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.

(i) Jurisdiction

(I) General Jurisdiction: The United States has jurisdiction over the purchase, sale, or investment advice related to any security offered by a regional center or associated party under securities laws. (II) Compliance with Regulation S: Regional centers and associated parties are allowed to offer or sell securities under Regulation S of the Securities Act of 1933 if such offerings comply with the regulation.