General Summary of the Bill

H.R. 7220 proposes the establishment of an EB-5 Regional Center Program Advisory Committee within the U.S. Citizenship and Immigration Services, part of the Department of Homeland Security. This committee aims to provide advice and recommendations on improving the EB-5 Immigrant Investor Program, a program that allows overseas investors to obtain U.S. green cards by investing in American businesses. The committee will include representatives from various government levels and EB-5 regional centers and will organize subcommittees to address specific issues within the program. The bill specifies regular reporting and meetings; however, it exempts the committee from the Federal Advisory Committee Act requirements, which typically ensure transparency and oversight of such committees.

Summary of Significant Issues

Several issues arise from the provisions outlined in the bill:

• Vague Termination Conditions: The advisory committee's lifespan is tied to the adjudication of all benefits under the program, which is indefinite and open to interpretation. This could lead to the committee's prolonged existence without clear outcomes.

• Unclear Definitions of 'Good Standing': The requirements for regional centers to be considered in good standing are not explicitly defined. This absence might result in favoritism or inconsistent application of membership criteria, potentially disadvantaging some regional centers unjustly.

• Lack of Oversight: The bill exempts the advisory committee from the Federal Advisory Committee Act (FACA), which usually provides a framework for transparency and accountability. This exemption could reduce public visibility and accountability of the committee's activities.

• Extended Term Limits: Advisory committee members can serve multiple terms extending up to 12 years. This could lead to a lack of fresh perspectives being introduced to the committee over time.

• Potential Regional Biases: The composition of the committee is heavily weighted towards regional centers in good standing, potentially overlooking the needs or insights from centers that do not meet this status but may still have valuable contributions.

Impact on the Public Broadly

For the general public, the establishment of this advisory committee may signal an intention by the government to refine and improve the EB-5 program, which could lead to economic benefits through increased foreign investment and job creation. However, the lack of transparency and oversight may raise concerns about how these improvements are implemented and monitored.

Impact on Specific Stakeholders

• EB-5 Regional Centers: Stakeholders directly involved in the EB-5 program, such as regional centers, stand to benefit from having a dedicated advisory committee that could enhance communication with U.S. Citizenship and Immigration Services. However, those unable to achieve 'good standing' might find themselves excluded from critical discussions.

• Investors and Immigrant Entrepreneurs: Improved efficiency and clarity in the EB-5 program may make the U.S. a more attractive destination for potential investors, thereby encouraging more economic activity and potential job creation in local economies. However, the lack of explicit support for diverse views within the advisory committee may leave certain investor concerns unaddressed.

• Local and Regional Governments: These entities could see positive effects from increased foreign investment facilitated by a more effective EB-5 program. However, specific gains may heavily depend on how well regional concerns are represented and addressed by the committee.

• Public Advocacy Groups and Watchdogs: These groups may view the exemption from FACA as problematic, as it could reduce transparency in how public resources and immigrant investor interests are handled.

In summary, while H.R. 7220 establishes a framework for potentially significant improvements to the EB-5 program, several aspects concerning governance and equity within the program's advisory structure raise questions about implementation effectiveness and fairness.