Making the EB-5 Regional Center program permanent?

The EB-5 Regional Center program is currently only authorized through September 30, 2012, and Congress needs to renew it or there will be bad news for regional centers and for all investors whose petitions are still in the pipeline. With the economy as it is I can’t imagine Congress allowing a jobs program like this to expire, but still the last two renewals didn’t come until literally the last minute and caused a lot of needless stress to businesses and investors.

Fortunately IIUSA and others are pressing hard, not only for renewal well in advance of the sunset date but for the Regional Center program to be made permanent. As the IIUSA blog reported yesterday:

The Hon. Senator Patrick Leahy (D-VT), Chairman, Senate Judiciary Committee, introduced the Creating American Jobs with Foreign Capital Act (S. 642) – which would permanently authorize the EB-5 Regional Center Program – into the Congressional Record.

The bill’s proposal is commendably lean and to-the-point:

Section 610 of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) is amended–
(1) by striking “pilot” each place such term appears; and
(2) in subsection (b), by striking “until September 30, 2012”.

Note that as part of its advocacy efforts, IIUSA is hosting a day-long EB-5 Regional Center Conference in Washington DC on 5/10/2011. This conference will be a unique opportunity to network with the prominent movers in the EB-5 community and to advocate for the extension of the Regional Center program. Although I personally fear networking and lobbying, I’m considering attending the conference for two sessions planned on topics that are extremely hot for EB-5 at the moment: SEC-compliance and job creation methodologies. The excellent line-up of guest panelists includes:

  • Representative from SEC Office of Small Business Policy
  • Howard L. Kramer, Partner, Schiff Harden, LLP (former SEC Senior Associate Director of Division of Market Regulation)
  • Zoe Ambargis, U.S. Dept. of Commerce, Bureau of Economic Analysis (invited)
  • Kim Atteberry, USCIS, Investment & Economic Analysis Division (invited)
  • John Barrett, Principal, IHS Global Insight, Inc.
  • Hart Hodges, Director, Western Washington Universiry, College of Business and Economics (former President of Association of University Busines and Economic Research)

About Suzanne (www.lucidtext.com)
Suzanne Lazicki is a business plan writer, EB-5 expert, and founder of Lucid Professional Writing.

One Response to Making the EB-5 Regional Center program permanent?

  1. Peter Joseph says:

    Thank you, Suzanne, one of IIUSA’s loyal members. Any readers interested in support these efforts, please join us in Washington, DC on May 10: http://iiusadc510.eventbrite.com/.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: