Lawmakers Take ‘Fix It or Nix It’ Stance on EB-5

A popular senior housing finance program that was previously under fire received a short term reprieve—but lawmakers continue to discuss dismantling or reforming it.

The EB-5 financing program has been extended exactly as is until September 30, 2016, but calls to reform the program with stricter regulations have remained. The provision to extend the program without major changes was approved within the federal funding Omnibus Bill by Congress on December 15. But in early February, the program was back up for debate.

EB-5 Provision Extended

A joint resolution in Congress has temporarily extended the EB-5 provision governing Regional Centers by granting funding of the program until December 16, 2015.  

EB-5 Debate Heats Up in Washington

Congressional debate on EB-5 immigration program which allows foreign nationals who invest in job-creating projects through Regional Centers to get green cards is heating up in Washington as program expiration date nears on December 11, 2015.

H.R.719 - Continuing Appropriations Act, 2016

On Wednesday, September 30, 2015, the House passed the Senate Amendment to H.R. 719, the Fiscal Year 2016 Continuing Appropriations Resolution, which extends the EB-5 Regional Center provision until December 11, 2015.