With the recent introduction of the “EB-5 Reform and Integrity Act,” it is important for EB-5 stakeholders to be engaged and support the reauthorization bill.
The bill, which provides the EB-5 Regional Center Program with a much-needed long-term reauthorization (five years), gives the EB-5 industry stability and a platform on which to build future policy asks.
Some are holding out hope that there will be another bill introduced. However, in the absence of any such bill and with a June 30 reauthorization deadline looming, we believe all stakeholders must recognize the logic behind supporting the current (and to date the only) well-negotiated good government bill.
Therefore, IIUSA is providing investors with an email template to send to their issuers. The message is simple: Support reauthorization efforts to protect your existing investors and to facilitate growth through the “EB-5 Reform and Integrity Act”.
Further, all stakeholders are invited to lend their support by joining the free Coalition to Save and Create Jobs and of course, we strongly encourage you to consider an IIUSA membership.
Subject: June 30th EB-5 Regional Center Program Reauthorization
Dear [First Name Last Name]
[RC Legal Name]
I am a current investor in your [Insert Project Name] and I write to you today about the impending June 30, 2021 sunset of the EB-5 Regional Center Program.
I am very concerned about the possibility that the Regional Center Program may not be reauthorized by the United States Congress. Decoupling the EB-5 Regional Center Program from must-pass spending bills means that reauthorization cannot simply happen by default. Instead, it creates a situation wherein members of Congress will need to get behind stand-alone reauthorization legislation. The bipartisan “EB-5 Reform and Integrity Act” has been introduced by Senators Grassley (R-IA) and Leahy (D-VT) and this is the vehicle by which the EB-5 Regional Center Program must be reauthorized.
In the absence of an alternative bill and recognizing that there simply isn’t sufficient time to negotiate a brand-new bill with a new set of sponsors, I believe that this is likely the only path to long-term reauthorization and as an investor, I believe this should be your highest priority as we simply cannot keep relying on short-term reauthorizations.
I strongly support this bill and I urge you to show your organization’s support for this bill by contacting your Congressional representatives and asking for their support as well. I also ask you to join the Coalition to Save and Create Jobs and if you are not already a member, to join Invest in the USA (IISUA), the only organization advocating on behalf of the of the collective EB-5 industry.
I understand some EB-5 stakeholders want to use this opportunity to further their commercial interests by reaching a “grand bargain” to achieve comprehensive reforms including redefining targeted employment areas and revisiting investment amounts. However, as welcome as those conversations will be one day, piling them on now threatens the best chance for reauthorization by June 30th and introduces massive uncertainty among investors.
I sincerely hope, as the investment issuer I chose, to pursue my American dream that you will support our common interest of long-term Program authorization above all else. I look forward to hearing from you about your position on this crucial matter.
[Your First Name Last Name]
Cc: Investor Relations