U.S. House of Representatives Approves 3-Year Extension of the EB-5 Regional Center Program
9/13/2012
MSA is pleased to announce that the U.S. House of Representatives passed Bill S. 3245 with almost unanimous consent, which extends the EB-5 Regional Center Program for another three (3) years, until September 30, 2015. President Obama is expected to sign the bill into law within the coming week.
As many MSA readers are aware, the bill has received Bi-partisan support: House Judiciary Chairman Lamar Smith (R-TX), along with the Immigration Sub-Committee Ranking Member Zoe Lofgren (D-CA) and Representatives Rick Larsen (D-WA) and Representatives Peter Welch (D-VT) have all vocalized the need for an extension of this job creating program.
By EB-5 standards, fiscal year 2012 (FY-2012) has been very successful where the creation of U.S. jobs and investment capital are concerned. All indications are that the Regional Center program will continue to thrive in the upcoming years. According to recently released statistics, thus far, FY 2012 has seen double the number of approved I-526 petitions when compared to FY 2011.