08 Dec House of Representatives Releases Continuing Resolution Extending EB-5 Regional Center Program until April 28, 2017
On the evening of Tuesday, December 6, 2016, the House of Representatives of the U.S. Congress make public its draft law (known as a “bill”) to extend the EB-5 Regional Center program without changes until April 28, 2017.
The draft EB-5 extension is part of a larger piece of legislation intended to fund the U.S. federal government to keep it operating, known as a Continuing Resolution. The Continuing Resolution, including the draft EB-5 extension, is expected to be approved by the House of Representatives either on Wednesday, December 7, or Thursday, December 8. The Continuing Resolution will then need to be voted on and approved by the U.S. Senate and then signed by the President. All of these steps are expected to be completed by Friday, December 9, 2016.
The proposed extension of the EB-5 Regional Center program without changes is a significant step forward in the continuity of the program, and opens the possibility of a predictable transition to introduce program improvements, which will likely occur in the second half of 2017.
We will continue to monitor and report on the progress of any developments from Washington D.C. on the EB-5 Regional Center program.
I.A. Donoso & Associates, based in Washington D.C., is uniquely positioned to monitor and report on developments in the U.S. Congress affecting the EB-5 Regional Center program.
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