January 2015: EB-5 Blog Introduces Month in Review, Terminated Regional Center List, and More

In EB-5 News, Legislative Developments, Month in Review by EB-5 Blog Staff

EB-5 Blog Introduces “Month in Review”

January 2015 has been an active month for the EB-5 industry. In our new series titled “Month in Review” we will provide a synopsis of the top EB-5 news, articles and insights from the month before.

EB-5 Legislative Developments

On January 28, 2015, Colorado Congressman Jared Polis (D) along with Nevada Congressman Mark Amodei (R) introduced H.R. 616: To amend the Immigration and Nationality Act to provide for reforms to the EB-5 immigrant investor program, and for other purposes. One of the main purposes of this bill is to permanently reauthorize the EB-5 program, which is currently set to expire on September 30, 2015.

While this bill is a welcome sign, the chances of it being enacted are minimal. Govtrack.us gives it a 7% chance of getting past committee and only a 2% chance of being enacted.

Important EB-5 Articles and Insights

On January 14, 2015, the NYU Stern Center for Real Estate Finance Research released a draft titled, “A Roadmap of the Use of EB-5 Capital: An Alternative Financing Tool for Commercial Real Estate Projects” by Professor Jeanne Calderon and Gary Friedland, Esq. The full draft can be viewed here and is certainly a worthwhile read.

Terminated Regional Center List

As of January 9, 2015, the USCIS has terminated sixteen (16) Regional Centers. The full list can be viewed here.

Practice Pointer
USCIS may terminate a regional center’s participation in the Immigrant Investor Program when the regional center fails to: (1) Submit Form I-924A on an annual basis, on a cumulative basis and/or as otherwise requested by USCIS to demonstrate continued eligibility; or (2) Promote economic growth as required.

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