EB-5 Immigration News – Will The Program Be Resuscitated?

According to this article on Forbes, by Andy J. Semotiuk, Contributor

“The most recent news is that the EB-5 Regional Center program is about to sunset, that is, to expire on June 30th, 2021. The reason is because it was decoupled from automatic renewals in the Congressional budgetary process following years of being renewed in that way. Meanwhile, as a result of a recent Behring court ruling, the minimum EB5 regional center program investment requirement has returned to $ 500,000 from a high of $ 900,000. The U.S Federal District Court held the regulation raising the amount was improperly adopted.

The EB-5 Reform and Integrity Act of 2021

Long before these developments occurred, U.S. Senators Chuck Grassley (R-IA) and Patrick Leahy (D-VT) introduced the EB-5 Reform and Integrity Act of 2021 to reauthorize the EB-5 regional center program in Congress. The Act, and a similar bill in the House, called for revisions to the EB-5 Regional Center Program to better protect investors, reduce corrupt practices in how it was being run and extend the life of the program for five years. For months now members of the EB-5 community, including for example Invest in the USA (IIUSA) and the American Immigration Lawyers Association (AILA), have been organizing support for the legislation to be adopted before the June 30th, 2021 deadline.”