Congress Takes Action to Renew and Make Permanent the Regional Center Program
As many of you are aware, the EB-5 Immigrant Investor Regional Center pilot program is scheduled to expire in September. In recent years, there has been a surge in the use of EB-5 funds as an expanding layer in the capital stack to help finance real estate, infrastructure, and other development projects/businesses.
In early February 2015, Reps. Jared Polis (D-CO) and Mark Amodei (R-NV) introduced the American Entrepreneurship and Investment Act of 2015. The bill would update and permanently authorize the EB-5 Immigrant Investor visa program. It is based largely on H.R. 4178 from last Congress. A summary of the bill – H.R. 616 – and a copy of the sign-on letter is being circulated by the Real Estate Roundtable and the EB-5 Coalition.