This bill creates a new advisory committee focused on the EB-5 immigrant investor program, which allows foreign investors to get green cards by investing money in U.S. businesses and projects. The committee will be made up of about 35 members representing regional centers (organizations that manage these investments), local government officials like mayors and county economic development officers, and federal agencies. The committee's job is to give advice to the Department of Homeland Security about how the EB-5 program is working and suggest improvements.

The committee will meet at least four times a year and will be divided into smaller subcommittees focused on specific areas like how quickly applications are processed, preventing fraud, measuring job creation, and policy questions. They'll produce annual reports that will be shared with Congress and the public so people can understand what's happening with the program. Committee members won't be paid for their service, and they'll serve two-year terms. The committee will continue to exist until all current EB-5 cases are decided, at which point it will be shut down. Importantly, the committee can only make general recommendations about how the program should work—they cannot make decisions about individual investment cases or petitions.