American Job Creation and Investment Promotion Reform Act of 2016

[AI summary unavailable — showing source text] American Job Creation and Investment Promotion Reform Act of 2016 This bill amends the Immigration and Nationality Act to revise EB-5 (alien immigrant investor) provisions, including regional center program provisions. The bill prescribes E-B5 requirements regarding: (1) fund sources; (2) threats to the national interest; and (3) fraud, misrepresentation,and criminal misuse. Future program participation is barred for a person who knowingly participated in conduct that caused a program center's termination. The EB-5 regional center program is extended through September 30, 2021. EB-5 investors must be at least 18 years old. The bill: (1) provides initial conditional permanent resident status for an alien investor (and the investor's spouse and children), and (2) sets aside 2,000 EB-5 visas for aliens who invest in rural areas and 2,000 EB-5 visas for aliens who invest in priority urban investment areas. A regional center shall operate within a defined geographic area and shall be consistent with the purpose of concentrating pooled investment within such area. The bill prescribes job creation requirements. Approved regional centers must give advance notice to the Department of Homela…