EB-5 Program Extended Through September 30, 2018

The latest Federal omnibus legislation voted on March 23rd, 2018,  included an extension of the current EB5 Regional Center Program Through September 30th, 2018.

IIUSA, the national trade association for the EB-5 Regional Center Program, released a statement on March 20th, 2018 about the EB-5 Reform bill that was to be included with the March 23rd, 2018, federal omnibus spending bill.

The EB-5 Reform Bill was not included in the March 23rd 2018, federal omnibus spending bill, and instead there is another extension of current EB-5 policy through September 30th, 2018.

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Statement Issued By IIUSA

“…In early March, IIUSA was pleased to join a group of industry organizations to review and discuss a bicameral compromise draft proposed by Senate and House Judiciary Committee Chairmen and key members of House and Senate leadership. After additional revisions were made to the compromise draft, IIUSA’s Board of Directors voted overwhelmingly to support the bicameral compromise that would have offered a six-year re-authorization and much-needed reforms.

Unfortunately, the compromise reform and reauthorization legislation failed to garner the support of all industry organizations and failed to be included in the omnibus appropriations legislation.

We are extremely disappointed in this missed opportunity but are most appreciative of the House and Senate Judiciary Committee leaders and members of Leadership who worked tirelessly to delicately craft the compromise package. The omnibus legislation, however, does include an extension of the current EB5 Regional Center Program through September 30, 2018. We plan to continue to work diligently with Congress and our membership to build on the compromise draft legislation”.

This latest extension will provide prospective EB-5 investors an additional six months to initiate their investment and file under the current EB-5 policy. The Regional Center Program will continue as is until September 30th, 2018, and any I-526 petitions filed under current policy will be “grandfathered in” once new policy is legislated, meaning investors can continue to take advantage of the $500,000 investment minimum for projects in TEAs (Target Employment Areas).

To read IIUSA’s statement in its entirety, follow this link

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Categories Blog, EB-5 Policy