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Congress Proposes to Extend the EB-5 Regional Center Program Through the End of FY 2017

Congress is poised to extend the EB-5 Regional Center Program through Sept. 30, 2017, without any changes. The House Appropriations Committee submitted a proposal on Continuing Appropriations in the early morning of May 1, 2017.  We expect the Omnibus Appropriation bill to proceed to House Rules Tuesday, May 2, with a vote on the House floor on Wednesday, May 3.  The bill will then proceed to the Senate with time to meet the short-term patch deadline for approval by midnight Friday, May 5.

There has been an ongoing effort to include an industry-consensus EB-5 reform bill in this legislative package.  While we continue to work toward a comprehensive, workable solution to EB-5 reform, it is possible that this effort will not be included at this point due to agreements above-and-beyond EB-5, and that we will merely see an extension of the program.

For more information, please see:

Bill text (p. 734): SEC. 542. Section 610(b) of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) shall be applied by substituting ‘‘September 30, 2017’’ for ‘‘September 30, 2015’’.

Explanatory Text (p. 65): Section 542. A new provision is included extending the Regional Center program within the “EB-5” immigrant investor program authorization until Sept. 30, 2017.

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About this Author

Laura Foote Reiff, Greenberg Traurig, business immigration lawyer, foreign company legal counsel, immigrant compliance attorney, targeted employment law
Northern Virginia Co-Managing Shareholder; Co-Chair, Business Immigration & Compliance Practice; Co-Chair, Global Human Capital Solutions

Laura Foote Reiff focuses her practice on business immigration laws and regulations affecting U.S. and foreign companies, as well as related employment compliance and legislative issues.

Laura advises corporations on a variety of compliance-related issues, particularly related to Form I-9 alien employment verification matters. Laura has been involved in audits and internal investigations and has successfully minimized monetary exposure as well as civil and criminal liabilities on behalf of her clients. She develops immigration compliance...

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Robert Maples, Governmental Affairs, Greenberg Traurig, Law Firm
Director

Robert Y. Maples is experienced in the Washington, D.C. federal, state and public affairs arenas. He has also been an advocate for building pragmatic alliances to resolve major social issues and has pioneered strategies for addressing complex public affairs crises in collaborative versus confrontational contexts. He continues his advocacy of pragmatic alliances in furtherance of client/government collaborations among the Congress and federal agencies, and serves as state counsel on complex client public policy matters. He is experienced in complex problem solving in regulatory and legislative environments and his client interests have led to Food and Drug Administration (FDA) activities and cybersecurity representation.

Robert maintains a Washington presence for a consumer product manufacturer with matters before the FDA. He authors a daily FDA e-newsletter, FDA Tracker, and is active on FDA matters with daily posts and observations of FDA-related news with social media. Robert’s Twitter account, @FDA_Track, was recognized by the Regulatory Affairs Professionals Society for his FDA-related work on the "Using Twitter as a Regulatory Intelligence Tool: The 300 Accounts Worth Following" list.

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