84R12154 DDT-D
By: Davis of Dallas H.B. No. 3383
A BILL TO BE ENTITLED
AN ACT
relating to the EB-5 immigrant investor visa program administered
by United States Citizenship and Immigration Services.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Title 99, Business & Commerce Code, is amended by
adding Chapter 2005 to read as follows:
CHAPTER 2005. NOTIFICATION OF ISSUANCE OF EB-5 IMMIGRANT VISAS
Sec. 2005.001. DEFINITIONS. In this chapter:
(1) "Commercial enterprise" and "regional center"
have the meanings assigned by 8 C.F.R. Section 204.6.
(2) "Program" means the EB-5 immigrant investor visa
program administered by United States Citizenship and Immigration
Services.
Sec. 2005.002. NOTIFICATION OF ISSUANCE OF VISAS. (a) To
the extent allowed under federal law, a regional center shall
notify the Texas Workforce Commission and each municipality or
county of each EB-5 immigrant visa issued under the program in
exchange for an investment in a commercial enterprise located in
the municipality or county.
(b) The notification must include:
(1) the number of individuals granted an EB-5
immigrant visa in exchange for an investment in the commercial
enterprise; and
(2) the number of jobs created or preserved or that may
be created or preserved in the municipality or county by the
investments in the commercial enterprise by the individuals
described by Subdivision (1).
SECTION 2. (a) In this section, "program" means the EB-5
immigrant investor visa program administered by United States
Citizenship and Immigration Services.
(b) The Texas Workforce Commission shall conduct a study of
the impact of the program in this state.
(c) The study, to the extent practicable, must:
(1) identify the number of direct jobs created under
the program in this state at the state, regional, and targeted
employment area levels;
(2) identify the number of indirect jobs created under
the program in this state at the state, regional, and targeted
employment area levels;
(3) evaluate the economic impact of the investments of
each regional center at the state, county, city, and targeted
employment area levels;
(4) measure the typical lifespan of a project funded
by the program and the jobs created under the program;
(5) identify the total amount invested under the
program in this state at the state, county, city, and targeted
employment area levels;
(6) categorize the types of projects funded under the
program;
(7) identify the projects funded under the program
that receive state or local tax exemptions;
(8) identify the number of EB-5 visa recipients who
invest in this state and who are residents of this state;
(9) identify the percentage of EB-5 visa recipients in
this state by each country of origin;
(10) evaluate the effectiveness of the program in
providing various benefits to local communities, including job
creation, investment, and other benefits the commission considers
important;
(11) evaluate the relationships between the regional
centers and local economic development organizations or municipal
governments;
(12) evaluate whether the jobs created by program
investments are generally aligned with the skill levels of the
residents in the area where the jobs are created; and
(13) identify the proportion of jobs created by the
program that are filled by residents of the targeted employment
area versus those filled by persons who reside outside the targeted
employment area.
SECTION 3. Not later than December 1, 2016, the Texas
Workforce Commission shall submit a report of the results of the
study to the governor, the lieutenant governor, and the members of
the legislature.
SECTION 4. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2015.