Posted on 09/27/2002 9:27:57 AM PDT by Donald Stone
Congress moves to aid visa program's investors Last-minute amendments would give exemptions to those seeking residency
By Walter F. Roche Jr. Sun Staff Originally published September 27, 2002
Acting at the last minute and without public notice, Congress is moving to give special exemptions to a small group of foreign investors who sought to gain permanent U.S. residency by participating in financial partnerships labeled "questionable" by a federal agency.
The exemptions were included this week in amendments to a Justice Department spending bill. The amendments were passed Wednesday by a conference committee; and the House, in a 400-4 vote, approved the full bill yesterday. The compromise legislation goes to the Senate.
Under the measure, foreign residents seeking permanent residency by investing up to $1 million in a U.S. business would be given another two years to bring their investments in line with standards set by the Immigration and Naturalization Service in 1998.
'Relatively small group'
Stephen Yale-Loehr, an immigration attorney from New York, said the amendments will benefit a "relatively small group" of about 200 foreign investors. A recent report by the American Immigration Lawyers Association placed the number at 800.
(Excerpt) Read more at sunspot.net ...
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