H.R.4259 - Employment Benefit Act111th Congress (2009-2010)
Summary: H.R.4259 — 111th Congress (2009-2010)
Introduced in House (12/10/2009)
Employment Benefit Act - Amends the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 to: (1) make the alien investor visa (EB-5) regional center program permanent; (2) establish a $2,500 regional center designation fee; and (3) increase visa set-asides for such program.
Amends the Immigration and Nationality Act regarding EB-5 provisions to: (1) establish a $2,500 premium processing fee; (2) establish in the Treasury the Immigrant Entrepreneur Regional Account Center; (3) permit concurrent filing for EB-5 petitions and status adjustment applications; (4) expand the definition of "targeted employment area" for purposes of visa set-asides; and (5) expand EB-5 eligibility to include investors who have completed investment agreements with a qualified venture capital operating company or with an "angel investor" (U.S. citizen- or permanent resident-owned entity or an entity that has made specified commercial enterprise investments).