EB-5 Program Extended Through December 11, 2015

Today Congress passed a Continuing Resolution that, among other things, extends the EB-5 Program through December 11th.  This should give Congress sufficient time to consider any legislative changes and a multi-year re-authorization of the EB-5 Program.  Although the EB-5 Program has strong bipartisan support, legislative changes are being considered to strengthen the oversight and integrity of the EB-5 Program in addition to an increase in the threshold investment amounts and placing limitations on the gerrymandering, or aggregation, of census tracts to obtain a TEA designation.  It appears that an increase to the investment threshold is almost certain, however, heated debate is expected on changes to how TEA’s are determined.

Prospective EB-5 investors should not be complacent about the December 11th extension as Congress can act at anytime to change the EB-5 Program.  EB-5 investors who file I-526 Petitions prior to the implementation of any changes to the EB-5 Program will be grandfathered under the old rules and regulations and will not be subject to increased investment requirements or any other changes that are adopted by Congress.