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EB-5 Program via Regional Center Sees Continued Delay

On Dec 2, 2021 Congress passed a Continuing Resolution extending the current US government budget through February 18, 2022. 

Many industry stakeholders were hopeful that the EB-5 via Regional Center Program would be reauthorized by being attached to this Continuing Resolution (H.R.6119). Unfortunately, despite active engagement with multiple senators and their staffs, EB-5 reauthorization was not included as an amendment. In fact, this was a clean continuing resolution, meaning that only one amendment, the funding of Afghanistan refugee resettlement, was attached. 

While this causes more delay for our clients and prospects, we remain optimistic about reauthorization.  Even with the extremely high workload of legislation going through the Congress, senior members from both parties are still engaged on EB-5.  There is a consensus draft bill for reauthorization already introduced in the Senate and more members have officially supported the Grassley-Leahy bill (S.831). 

We share the frustration of our clients and will continue to work for long-term reauthorization and improved integrity measures.  Next steps are identifying another piece of legislation that an EB-5 bill can be attached to as an amendment, or seeing it included in the Omnibus Appropriations Bill that needs to be passed now by February 18.

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EB-5 Program Update:

The EB-5 Program has lapsed. The US Congress is discussing the legislation that authorizes the program while USCIS reviews the regulations and policies for filing. Because of the recent court ruling that reversed the 2019 Modernization regulations, the investment level has shifted temporarily from $900,000 back to $500,000.

If the program is reauthorized before the regulations are updated, there may be another window of opportunity to file at $500,000.

LCR expects the program to be reauthorized in February 2022, and continues to work with international families that want to explore alternative residency options.

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