EB-5 extended through September 30
Just after noon on Friday, May 5,2017, President Donald Trump signed the Consolidated Appropriations Act, 2017. The new law approves $1.1 trillion in Federal appropriations through September 30, 2017.
One of the provisions of the bill extends the EB-5 Regional Center program without change through the same date.
Although the Consolidated Appropriations Act did not change any provisions of the EB-5 program, we expect further Congressional and regulatory efforts in the very near future.
As we said yesterday,
Industry leaders view this extension of the program as the necessary threshold to achieve a long-term legislative solution to the issues that have been raised about the EB-5 program before any regulatory changes are implemented and before the next sunset date of September 30, 2017.
We expect all stakeholders in the EB-5 business to be pushing very hard toward this end.