Short Term EB-5 Extension
The EB-5 regional center program (also known as the pilot program) was set to expire on September 30, 2015. However, just in the nick of time, Congress passed the Continuing Resolution (CR), an interim measure extending the program through December 11, 2015. While this is not ideal measure as investors are still unclear about the future of the program, it at least preserves the very popular program for another couple of months.
It is expected that the EB-5 pilot program will go through an overhaul shortly with Senators Grassley and Leahy pushing for measures that would reform the pilot program. The American Job Creation and Investment Promotion Reform Act would reauthorize the EB-5 Regional Center program for five years and provide an overhaul of reforms that would significantly change many aspects of the program.