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U.S. CONGRESS REAUTHORIZES THE EB-5 REGIONAL CENTER PROGRAM

Last night, with a vote of 68 yeas and 31 nays, the U.S. Senate passed a sweeping federal spending package that included the reauthorization of the EB-5

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Support grows for inclusion of EB-5 reforms in FY2021 omnibus appropriations bill

Support grows for inclusion of EB-5 reforms in FY2021 omnibus appropriations bill
Friday, December 11, 2020
by Kim Riley
Â© Shutterstock
Congress should include integrity reform measures and a long-term reauthorization of the EB-5 Regional Center Program in the fiscal year 2021 omnibus appropriations bill, according to almost a dozen congressional lawmakers in a letter sent to federal lawmakers.
One existing piece of proposed federal legislation contains such provisions: the bipartisan EB-5 Reform and Integrity Act, S. 2540, introduced last year by U.S. Sens. Chuck Grassley (R-IA) and Patrick Leahy (D-VT). The senators this week proposed an amendment with compromise language from the bill, which, if enacted, would reauthorize the EB-5 Regional Center Program through Sept. 30, 2024, and offers several integrity provisions designed to prevent fraud and promote and reform foreign capital investment and job creation in American communities.

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