Once again the EB-5 Regional Center, which has been a “pilot program” since its inception in 1992, is up for reauthorization. It currently “sunsets” on September 30, 2015.
In a recently published blog post by the American Immigration Lawyers Association, it is noted that from 2008 to 2014 an estimated $12 billion of capital investment came into the U.S. through the EB-5 program, with almost all of it through the regional centers. Since 1990, the EB-5 program has created over 85,000 full-time jobs in the U.S. In FY2013 alone, an estimated 30,000 jobs were created through the EB-5 program.
There seems to be bi-partisan support in Congress to extend the RC program once again, perhaps even permanently, but there is also a mindset that there are major changes needed to the EB-5 program. There are currently three bills pending in Congress that introduce changes such as increasing the minimum investment, adding various integrity provisions, and redefining the Targeted Employment Area provisions. AILA has provided a comparison chart of the three bills.