As a follow-up to our last post on the status of the EB-5 Program, the EB-5 Program has been renewed, at least for the short-term.
After the government shutdown ended, and on the evening of Valentine’s Day, Congress pushed the spending bill through to renew the EB-5 Program until September 30, 2019.[1] Because the EB-5 Program does not have permanent legislation authorization, it will continue so long as Congress periodically renews the program. However, whether the program will continue in the long-run is still up in the air in light of growing criticisms of the Immigrant Investor Program.[2] For now, however, the EB-5 Program will continue at least until the fall of this year.
Stay tuned for more coverage of EB-5 developments.
Contacts:
Jamie Lacy
817.420.8274
jlacy@winstead.com
Toby Galloway
817.420.8262
tgalloway@winstead.com
Ronak V. Patel
512.370.2892
rvpatel@winstead.com
[1] See H.J. Res. 31, available at https://rules.house.gov/conference-report/-H.J.%20Res.%2031.
[2] See EB-5 February 15th Update: What Investors Can Expect For the Future of EB-5 (Feb. 25, 2019), available at, https://www.prnewswire.com/news-releases/eb-5-february-15th-update-what-investors-can-expect-for-the-future-of-eb-5-300796643.html.