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Passed Appropriations Bill Extends the EB-5 Regional Center Program Through December 8, 2017

Congress reached a deal last week with the White House, that President Trump has subsequently signed, extending existing funding levels and other program authorizations (such as the EB-5 Regional Center Program) included on the last “continuing resolution” (“CR”) through December 8, 2017. The deal also increases the debt limit and provides disaster relief funding to hurricane victims.

The EB-5 authorization comes in Section 105 text of the deal which reads: Continues all authorities, requirements, and limitations from 2017 Appropriations Acts through the date in section 106 (December 8, 2017). Allows for valid obligations and expenditures during the period of the Continuing Resolution (CR). 

In the meantime, stakeholder groups such as IIUSA and the EB-5 Coalition continue negotiations with lawmakers on reforms to the EB-5 program. Key policy issues such as targeted employment area (TEA) designation methodology, minimum investment levels, visa number set-asides, and the effective dates of the new law are all interconnected and are being negotiated on almost a daily basis. The differences being debated in these topics are narrow and a framework for a bill is believed to be within reach.