You can access the comments by BoBi Ahn, Managing Partner, in the above titled article in EB5investors.com by clicking on the link.
Congress Reauthorizes the EB-5 Regional Center Program
On March 10, 2022, as part of the FY 2022 Consolidated Appropriations Bill, the Senate approved a reauthorization of the EB-5 Regional Center Program - the EB-5 Reform and Integrity Act of 2022 (“Integrity Act”). The House passed the same bill the night before. The EB-5 Regional Center Pilot Program had lapsed last June 30, 2021. The measure was sent to President Biden, and he is expected to sign it on or before March 15, 2022.
USCIS Adjusts Process for Managing EB-5 Visa Petition Inventory
WASHINGTON— U.S. Citizenship and Immigration Services today announced a process change for Form I-526, Immigrant Petition by Alien Investor, from a first-in, first-out basis to a visa availability approach.
This new operational approach aligns with other visa-availability agency adjudications processes, is more consistent with congressional intent for the EB-5 Immigrant Investor Program, and increases fairness in the administration of the program.
“Changing our approach from a first-in, first-out adjudication process to one that prioritizes petitions connected to individuals from countries where visas are currently available better aligns the EB-5 program with congressional intent and makes it more consistent with other USCIS operations,” said USCIS Deputy Director Mark Koumans. “This new approach increases fairness, allowing qualified EB-5 petitioners from traditionally underrepresented countries to have their petitions approved in a more timely fashion to receive consideration for a visa.”
This operational change is consistent with the agency’s processing of Form I-130, Petition for Alien Relative, in cap-subject categories. The new visa availability approach simply gives priority to petitions where visas are immediately available, or soon available, and will not create legally binding rights or change substantive requirements. Applicants from countries where visas are immediately available will now be better able to use their annual per-country allocation of EB-5 visas. The new visa availability approach will apply to petitions pending as of the effective date of the change. USCIS will implement the visa availability approach on March 31, 2020.
USCIS will hold a public engagement on March 13, 2020, from 11:00 a.m. to noon Eastern, to provide information and answer questions from the public about these operational changes to the management of Form I-526 petition inventory.
EB-5 Regional Center Program gets Extended (again) without Any Changes
SEC. 204. Section 610(b) of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) shall be applied by substituting “September 30, 2018” for “September 30, 2015”
This language refers back to Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (Public Law 102-395) Section 610 (PDF page 47), which established the regional center program. The 2018 Appropriations Act does not include the EB-5 Reform Act, or other EB-5 changes. It just extends the borrowed time until we get a good piece of EB-5 legislation.
EB-5 Regional Center Program Extension
USCIS administers the EB-5 program, created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under a program initially enacted as a pilot in 1992, and regularly reauthorized since then, investors may also qualify for EB-5 classification by investing through regional centers designated by USCIS based on proposals for promoting economic growth. On February 9, 2018, the President signed Public Law 115-123; extending the Regional Center Program through March 23, 2018.
EB-5 Regional Center Termination Notices
USCIS is now proactively publishing Regional Center termination notices as they become available, which is consistent with our commitment to transparency in the EB-5 program. This is an important step in assisting investors, the EB-5 industry, and the public to understand the reasons why a regional center has been terminated and what types of regional center activities may trigger the end of a regional center’s designation. You can see a full listing of the Regional Centers that have been terminated on our, Regional Center Terminations page.
Comprehensive Government Funding Bill Includes Language Extending EB-5 Program to September 30, 2017
The final paragraph of the TEXT OF THE HOUSE AMENDMENT TO SENATE AMENDMENT NUMBERED 1 TO H.R. 244, THE HONORING INVESTMENTS IN RECRUITING AND EMPLOYING AMERICAN VETERANS ACT OF 2017, Page 734 substitutes "September 30, 2015" with "September 30, 2017". It remains possible that Congress could pass EB-5 legislation before September 30, 2017.
Congress Passes Spending Bill To Avoid Shutdown, Again Punts On Health Care (and EB-5 Revision)
With the clock ticking, Congress on Friday (4/28/2017) managed to fulfill its basic function — keeping the federal government running.
The House and Senate approved a short-term measure that funds the government for another week. Lawmakers voted hours ahead of a midnight deadline to avoid a partial shutdown of federal agencies.
Friday's extension gives members of Congress more time — until midnight on May 5 — to try to reach a deal on a spending bill that will last through the rest of fiscal year 2017, which ends Sept. 30.
USCIS issues proposed regulation changes: "EB-5 Immigrant Investor Program Modernization"
USCIS has issued a proposed rule on "modernization of the EB-5 Immigrant Investor Program" changing some MAJOR provisions governing EB-5, including: Raising of the minimum capital investment amount to $1.8million (and $1.35 for TEA); Priority Date retention; Elimination of state designation of high unemployment areas. Public comment period ends 4/11/2017.
EB-5 Regional Center program to be Extended Through April 28, 2017
Yesterday, Congress introduced a bill for another continuing resolution that will extend federal government funding through April 28, 2017. Included in this stop-gap measure is a short-term reauthorization of the EB-5 Regional Center Program through April 28, 2017, avoiding a lapse to the Program which would otherwise sunset on December 9, 2016.