On Monday May 1, a bipartisan omnibus spending deal was filed by Congressional Leadership to fund the government through September 30, 2017. This deal includes a clean extension of the EB-5 Regional Center Program through the same date.
- Bill Text (p. 734):
- SEC: 542. Section 610(b) of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) shall be applied by substituting “September 30, 2017” for “September 30, 2015”.
- Explanatory Statement (p. 65):
- Section 542. A new provision is included extending the Regional Center program within the “EB-5” immigrant investor program authorization until September 30, 2017.
IIUSA is grateful for another extension of the Regional Center Program and look forward to the opportunity to achieve a legislative solution for a long-term reauthorization before any regulatory changes are implemented and as we face our next sunset date of September 30th.
American workers and local developers depend on EB-5 as a vital source of capital, which is why IIUSA is collaborating with government and industry stakeholders to shape the program into an even better economic development tool. We’re confident that if we work together, we can succeed.
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