Leahy EB-5 Bill Senate Committee Passed on 5/12/2013

The Leahy EB-5 Bill (PDF) makes the program permanent; TEA certifications last for five years, it allows the I-526 petition to be filed concurrently the adjustment application (benefitting individuals within the United States), and allows full-time equivalents and provides a simpler project preapproval process. It also requires at least one census tract within a TEA combination of census tracts to have at least 20% of residents below the poverty level. It also provides a separate option for a “rural” TEA designation for states with populations under 1.5 million. It also allows the minimum EB-5 investment amount of $900,000 to increase with inflation.