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.
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 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.
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.
EB-5 visa program may expire on Sept. 30 if Congress doesn’t take action
The investor visa program, EB-5, is set to expire on September 30, unless Congress can temporarily extend it, or reform it to cut down the loopholes and eliminate the numerous cases of fraud that surface with the program.
New York Ferris Wheel Being Built with EB-5 Investor Funds
Betting on the New York Ferris Wheel to Elevate Staten Island’s Fortunes
...With so many moving parts, the wheel still presents many hurdles for developers. But Rich Marin, president and chief executive of the New York Wheel, said financing is not one of them.
His company is close to raising the full $500 million it will need to build the wheel along with a terminal building and parking garage, he said. Nearly one-third of that sum, $150 million, has been collected from 300 Chinese families that invested with the hope of receiving visas through a program run by the federal immigration service.