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Senate Bill S. 232 Introduced to Abolish the EB-5 Program

On Jan. 24, 2017, Senators Grassley (R-IA) and Feinstein (D-CA), the Chair and Ranking Committee members of the Senate Judiciary Committee introduced bill S. 232 to terminate the EB-5 Visa Program and to reallocate the employment creation visas to the other employment-based visa classifications. The bill would eliminate both the direct and regional center program and reallocate the visas to the EB-1, EB-2, EB-3 and EB-4 employment-based visa categories. The regional center program has been extended through April 28, 2017 and must be re-authorized to extend that program. Given the support for the EB-5 program from numerous legislators in both Houses of Congress, we think it is very unlikely that this legislation will actually be passed and signed into law.

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Laura Foote Reiff, Greeberg Traurig Law Firm, Washington DC, Northern Virginia, Labor and Employment, Immigration Law Attorney
Shareholder

Laura Foote Reiff Co-Chairs the Business Immigration & Compliance Practice and is the Co-Managing Shareholder of the Northern Virginia Office. She also Co-Chairs the firm’s Labor & Employment Practice’s International Employment, Immigration & Workforce Strategies group. Laura 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...

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