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September 11 2017

EB-5 Extends to December 8, 2017

With the Hurricane Harvey relief, debt ceiling increase, and budget extension legislation, Congress has extended the current EB-5 law to December 8, 2017 with no changes.

There still remains the possibility that the Senator Cornyn’s EB-5 compromise bill may pass this fall. My contacts in Washington D.C. say Senator Cornyn is still working to pass his EB-5 visa reform bill this fall. Further opinion on this matter can be found here.

There is also the possibility that the Department of Homeland Security (DHS) will issue the proposed regulations that were published in January, which would possibly increase the investment amount in a TEA to $1,350,000 and in other areas to $1.8 million. A few senators recently wrote the DHS Secretary urging these proposed regulations be held in abeyance.

For those of you in Florida and in Hurricane Irma’s path, stay safe.