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.