Late Friday night the U.S. Congress passed and President Obama signed a short-term funding bill (H.R. 2028) known as a continuing resolution that extends funding for the U.S. government through April 28, 2017. The bill includes a provision continuing the EB-5 regional center program unchanged through the same date.
Inclusion of the EB-5 regional center program in the funding bill avoids a lapse in the program. That means that EB-5 petitions can be filed under current rules through April 28.
Congressional staffers have been working behind the scenes on major reforms to the EB-5 program, including an increase in the minimum investment amount. However, a final package isn’t ready yet. That is why Congress extended the EB-5 regional center program without any changes until April 28. During that time Miller Mayer and other EB-5 industry leaders will work with Congress toward long-term reauthorization and sensible reforms to the EB-5 regional center program.
Although there are no immediate changes to the EB-5 program, immigration filing fees will increase starting December 23. For the EB-5 program, the I-526 filing fee will increase to $3,675. The I-829 filing fee will stay unchanged at $3,750. The I-924 filing fee for new or amended regional center petitions will almost triple, to $17,795. And the I-924A annual report by regional centers, which currently has no filing fee, will have a filing fee of $3,035. Individuals and regional centers that want to avoid these filing fee increases need to submit their petitions promptly.