Official Summary

12/10/2009--Introduced.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 designa

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Official Summary

12/10/2009--Introduced.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).

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