EB-5 Immigrant Investor Program

On February 15, President Trump signed the Consolidated Appropriations Act, 2019 thereby averting another government shutdown.  The spending bill funds the federal government and extends the EB-5 Regional Center Program authorization through September 30, 2019.  EB-5 stakeholders will resume efforts towards achieving EB-5 reform and long-term reauthorization.

The U.S. Citizenship and Immigration Services has resumed processing of EB-5 Regional Center applications/petitions.  The EB-5 Regional Center Program has been authorized and extended for three weeks in connection with the short-term spending bill signed by President Trump, thereby ending the government shutdown.  The continuing resolution (CR) reopens the government through February 15, 2019.   The CR also lifts the suspension on other immigration programs including E-Verify, religious workers programs, and Conrad 30 Waiver Program for J-1 physicians.

President Trump signed a spending bill thereby averting a government shutdown.  The continuing resolution (CR) provides for a short-term extension of the EB-5 Regional Center Program through December 21, 2018.  The CR also extends the E-Verify and Religious Workers programs.   The CR extends the EB-5 Regional Center Program without any changes.  We will be closely following activity on Capitol Hill surrounding EB-5 reform and/or extension efforts.

The EB-5 Program has been extended for six months, through September 30, 2018, as part of the omnibus spending bill funding the federal government. Congress passed the spending bill early Friday morning and President Trump signed the bill today. The extension of the EB-5 Program does not include any of the controversial reforms.  Potential reforms include increasing the minimum investment amount, creating additional safeguards, and instituting a visa set-aside for rural projects.

I invite you to read my May 2017 article published by Law360 explaining some of the reforms being discussed. Without the omnibus bill, there would have been a government shutdown and the EB-5 Program would have expired. We will be closely following industry dialogue and activity on Capitol Hill surrounding EB-5 reform and/or extension efforts in the coming months.

CU.S. Capitol Building, Washington, D.C.ongress has passed a stopgap spending bill which will extend the EB-5 Regional Center Program through January 19, 2018 without change.  It is expected President Trump will sign the bill today, thereby averting a government shutdown. Without the stopgap spending bill, the EB-5 Program was otherwise due to expire tonight. We will be closely following activity on Capitol Hill as efforts towards EB-5 reform continue.

U.S. Capitol Building, Washington, D.C.The EB-5 Program has been extended through December 22, 2017.  The Program was extended as part of a continuing resolution (CR) funding the federal government through December 22, 2017, thus preventing a government shutdown.

There are no changes to any federal programs with this two-week extension which is welcome news for EB-5 industry stakeholders.

The U.S. Congress extended the EB-5 Regional Center Program through December 8, 2017, without reform, as part of a stopgap continuing resolution to fund the federal government (H.R.601), which the President signed into law on September 8.

The language in H.R.601 Section 106 states that the program is “extended to December 8,” which does not necessarily mean “guaranteed to remain unchanged until December 8.” Congress is reportedly actively working on a major EB-5 reform bill and they could come up with legislation before December that affects multiple visa categories including EB-5.

The extension was expected after the summer recess due to other congressional priorities, like hurricane-relief, tax reform, missile defense against North Korea and other military spending, and prolonged budget negotiations. Under the package approved Friday, government funding will run out on Dec. 8. The biggest fiscal fights of the year will now be pushed to December, when lawmakers typically are under pressure to reach deals before leaving for the holidays.

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Alka Bahal is a Partner and the Co-Chair of the Corporate Immigration Practice of Fox Rothschild LLP. Alka is situated in Fox Rothschild’s Roseland, New Jersey office though she practices throughout the United States and at Consulates worldwide. You can reach Alka at (973) 994-7800, or abahal@foxrothschild.com.

Ali Brodie, Counsel, Fox Rothschild LLPFox counsel Ali Brodie, who heads Fox’s EB-5 Immigrant Investor Services practice, has written a piece for Law360 providing a comprehensive view of reform efforts centered on the EB-5 program. Extended to September 30, 2017, there are now bipartisan discussions to update and improve the program. Changes being discussed include reclassification of Targeted Employment Areas (TEAs), increases to minimum investment amounts, and stricter integrity and oversight measures. Lawmakers are also considering changes to the number of visas available annually, and more efficient processing to address the application backlog.

We invite you to read the full piece “Potential EB-5 Changes Ahead,” originally published by Law360 on May 16, 2017.

Today, Congress submitted a proposed omnibus spending bill to extend funding to the government through September 30, 2017.  The EB-5 Regional Center Program is included in the bill which proposes a clean extension without any of the much-debated reforms.  If approved, the EB-5 Regional Center Program will be extended through September 30, 2017, offering lawmakers and stakeholders additional time to reach a long-term legislative solution.

Today, Congress extended the EB-5 Program for 1 week through May 5, 2017.  The Program was extended as part of a continuing resolution (CR) funding the federal government through May 5, 2017, thus preventing a government shutdown.  The EB-5 Program would have otherwise sunset today.  The President has until midnight tonight to sign the CR.

This is welcome news for EB-5 industry stakeholders as the program is alive for another week and allows more time for negotiations with lawmakers, with the ultimate goal of reaching a deal that would reform the program with a long-term reauthorization.