15 Mar EB-5 Regional Center Program is Reauthorized by Congress
U.S. Immigration Fund Chairman Nick Mastroianni, II, Comments on the Reauthorization of the EB-5 Regional Center Program.
Earlier this week both the Senate and the U.S. House of Representatives passed the FY2022 Omnibus Appropriations bill that includes EB-5 Reforms and the president is expected to sign at any moment.
As previously reported, the inclusion of the EB-5 reform will update the program so it is extended until September 30, 2027, and will be renewed for 5-year increments, through the effective date.
“Programs like EB-5 will ignite U.S. local and regional economies with projects that generate and save hundreds of thousands of American jobs,” said Nick Mastroianni, II.
He continued, “Today’s achievement of getting to this place has been a tireless and collaborative effort amongst industry stakeholders with a unified goal of protecting a program that benefits the economy, creates jobs and protects investors.”
We want to especially give thanks to efforts we have spearheaded over the last year alongside industry leaders and collaborators including: The US Chamber of Commerce, Laura Reiffl and The EB-5 Investment Coalition, Holland & Knight, RER, REBNY, and Miller Strategies among others”. He concluded that “The EB-5 Regional Center Program updates would not be possible without Senator Lindsey Graham, Minority leader Mitch McConnell, Senator John Cornyn, Majority leader Chuck Schumer, Senators Chuck Grassley, Patrick Leahy, Cory Booker and Rand Paul, Speaker Nancy Pelosi, Congressman Kevin McCarthy and Chairman Gerald Nadler – and we thank them all for their efforts.”
“I personally welcome all investor inquiries and invite you contact USIF today”.
USIF will continue to provide updates and keep you informed on updates to the EB-5 Program.