EB-5 Regional Center Program Likely Extended to December 9 2016

EB-5 Regional Center Program Likely Extended to December 9 2016

Law Offices of Yongbing Zhang

The current U.S. Immigration Law covering EB5 regional center program is set to expire on September 30, 2016. Although most lawmakers at the Capital Hill believe that the law needs a comprehensive reform, including raising investment capital in TEA from half million dollars to eight hundred million dollars, the reform, however, likely will not occur at least up until December 9, 2016.

Obviously, campaigning for his or her own party at home state in the upcoming November election is more important than spending quality time at Washington D.C. in figuring out how the law should be changed at this time.

Therefore, on Thursday, September 22, 2016, the Senate Majority Leader Mitchell McConnell submitted the legislation proposal to fund the Federal Government through December 9 2016. The bill not only would continue the government’s funding into December, but also include a clean extension for EB-5 Regional Center Program through December 9, 2016, with no changes to the current law other than the date extension. The Senate is set to vote on the spending bill that contains the EB-5 extension on the afternoon of Tuesday, September 27, 2016. After the Senate approves the bill, the House will have to act to approve the bill before September 30, 2016.

This means at least by December 9, 2016, there will be no change to current laws on EB5 regional center program.

The Law Offices of Yongbing Zhang will monitor this event closely and update our clients timely on the development of legislative changes to EB-5 Regional Center Program.

The End

September 24 2016

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为此,在9月22日,星期四, 参议院多数党主席Mitch McConnell递交了支持联邦政府运行至12月9日的拨款议案。这个议案不仅包括让联邦政府有足够的资金运行到今年12月的条款,而且也包含一条对EB5区域中心法律延期至12月9日的议案。这条议案对EB5区域中心法律除了在时间上做了延长,其他什么内容都没有修改。参议院按计划将于下周二,9月27日下午对整个拨款议案进行投票表决。一旦通过,众议院必须要赶在30日之前投票通过议案。






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