By: Stickland H.B. No. 3948
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  r
  elating to the review of the economic impact of the immigrant
  investor visa program.
         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, including a timeline of the job creation;
               (2)  identify the number of indirect jobs created under
  the program in this state at the state, regional, and targeted
  employment area levels, including a timeline of the job creation;
               (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.