The U.S. House of Representatives plans to pass today a short-term funding bill (H.R. 2028) known as a continuing resolution that will extend funding for the U.S. government through April 28, 2017. The bill includes a provision continuing the EB-5 regional center program without any changes through the same date. The U.S. Senate is expected to vote on the funding bill on Friday. The bill would then go to President Obama to become law.
Inclusion of the EB-5 regional center program in the funding bill avoids a lapse in the program.
Congressional staffers have been working behind the scenes on major reforms to the EB-5 program, including TEA changes and an increase in the minimum investment amount. However, a final package isn’t ready yet. That is why Congress is extending the EB-5 regional center program without any change until April 28. During that time Miller Mayer and other EB-5 industry leaders will work with Congress toward long-term reauthorization and sensible reforms to the EB-5 regional center program.