log in
Contact Us
Links
Blog
SitemapEB5 Amendment Adopted
The Senate adopted an amendment to make the EB-5 Regional Center pilot program permanent in Washington, Wednesday July, 8 2009. This strongly supported bipartisan program is slated to expire in September of this year.
In a press release issued by the amendment’s sponsor, Senator Patrick Leahy (D-Vt.) commented on the importance of the EB5 program stating “This program must be made permanent if it is to achieve its potential as an economic engine in our communities… Authorizing the program for only months or a few years at a time sends the wrong message to individuals who want to make a permanent commitment to the United States. ”
This amendment is forecasted to significantly grow confidence among immigrant investors.
Read Senator Patrick Leahy’s Press Release
Tags: amendment, eb5, permanent, Senate, Senator Patrick Leahy, Washington
Is adopted…..means? Is it approved and made a law?
If not, what all the steps involved to make it law and implement it
Ram
This means that the Senate has added the amendment to the Department of Homeland Security Appropriations Act. As stated by govtrack.us “The bill may now proceed to a conference committee of senators and representatives to work out differences in the versions of the bill each chamber approved. The bill then goes to the President before becoming law.” The Senate Judiciary Committee has already held a hearing on the EB5 Regional Center program. See our blog “Senate Judiciary Committee Hearing” for more details.
What is the current status? I believe the program expires on 9/30. Has the program been made permanent or otherwise been extended?
The program has been extended through October 31st. Congress will soon vote on a 3 year extension.