EB-5 News: Regional Center Program Extension To September 30, 2020, If Federal Funding Package Passes
A bipartisan effort has been made to push through a federal spending package before the government shuts down at midnight on December 20th. The House passed H.R. 1865, which includes an EB-5 Regional Center Program extension through September 30, 2020.
The EB-5 Regional Center Program would be extended without changes.
The Regional Center Program allows high-net-worth foreign nationals to invest $900,000 (or in some cases $1.8 million) into job-creating new commercial enterprises in exchange for visas for the principal investor as well as their spouse and unmarried children under the age of 21 years.
Although the package is expected to pass, it must next be sent to the Senate for a vote and then, if passed, it will be sent to President Trump’s desk for a signature.
Although the Trump administration would not receive the full $8.6 billion requested for the southern border wall, the package does allocate $1.375 billion in border funding and would allow the administration to continue moving money from other accounts to the border wall.
Source: EB-5 Daily