EB-5 Visa Program Development
It is with pleasure that we can advise you that the United States Senate has in principle agreed to a 3 year reauthorization of the EB-5 Regional Center Program (and other three programs included in S.3245). The Senate has already acted, passing the deal yesterday via unanimous consent. We understand that the House – which is already on recess – will take this up via suspension of the rules (i.e. no floor debate) in early September after recess is over.
While this measure is not a permanent or a five year reauthorization, it does afford a lengthy period of time to permit the EB-5 program to expand and stabilize. Please contact your House representatives to encourage passage in September.