Earlier this week, IIUSA submitted a letter to Senators Charles Grassley (R-IA) and Patrick Leahy (D-VT) expressing support for the bipartisan, bicameral efforts to achieve a long-term re-authorization of the EB-5 Regional Center Program. The letter reaffirms IIUSA’s support of all Congressional and industry organizations that are working toward multi-year reauthorization and reform legislation.
IIUSA greatly appreciates the leadership of both Senators Grassley and Leahy in working toward a legislative solution to EB-5 policy issues. IIUSA shares the same interest as the legislators in ensuring that reforms to the Program both improve its integrity and support its growing economic contribution. The letter does not describe the many areas where IIUSA’s policies are aligned with the draft legislation provided by the Senators earlier this year, but rather contains concepts which IIUSA respectfully requests be considered.
The letter covers:
- Maximizing Capacity for Economic Impact with Enhanced Visa Capacity
- Raising the Minimum Investment Amount; Indexing to Inflation
- Demonstrating Required Job Creation
- Fund Administration
- Regional Center Oversight & Compliance (Section 2)
IIUSA looks forward to the opportunity to discuss the contents of this letter, other ideas for policy options to enhance program integrity and effectiveness, and technical fixes to the legislative language and we would like to once again thank Senators Grassley and Leahy for their support of the EB-5 Regional Center Program.