; and (II) (aa) is outside of a metropolitan statistical area; or (bb) is within any census tract that is greater than 100 square miles in area and has a population density of fewer than 100 people per square mile. (viii) Targeted employment area The term targeted employment area means— (I) a qualified opportunity zone (as designated under section 1400Z–1 of the Internal Revenue Code of 1986; (II) a rural area; or (III) an area within the geographic boundaries of any military installation that was closed before the filing of an application for classification as an immigrant investor under this paragraph, based upon a recommendation by a Defense Base Closure and Realignment Commission. . (b) Effective dates (1) In general Except as provided in paragraph (2), the amendment made by subsection (a), shall take effect on the date that is 90 days after the date of the enactment of this Act. (2) Exceptions Subparagraphs (E)(iv) and (L) of section 203(b)(5) of the Immigration and Nationality Act ( 8 U.S.C. 1153(b)(5) ) shall not apply to a petition that— (A) was filed by an alien investor under such section 203(b)(5) before the date of the enactment of this Act; or (B) is filed under section 216A of such Act ( 8 U.S.C. 1186b ) if the underlying petition filed under section 203(b)(5) of such Act was filed before the date of the enactment of this Act. (c) GAO report Not later than December 31, 2021, the Comptroller General of the United States shall submit a report to the Committee on the Judiciary of the Senate and the Committee on the Judiciary of the House of Representatives that describes— (1) the economic benefits of the regional center program established under section 203(b)(5) of the Immigration and Nationality Act ( 8 U.S.C. 1153(b)(5) ), including the steps taken by U.S. Citizenship and Immigration Services to verify job creation; (2) the extent to which U.S. Citizenship and Immigration Services ensures compliance by regional center participants with their obligations under the immigrant investor program