On November 2, 2015, IIUSA sent a letter over the signature of Executive Director, Peter D. Joseph. The title subject of the letter was “Proposal for Long Term Re-Authorization & Reform of the EB-5 Regional Center.” The letter offered four distinct propositions advocated by IIUSA and its members for balancing interests in EB-5 reform.
IIUSA recommended that unemployment TEAs should be a geographic area or political subdivision consisting of no more than 12 contiguous census tracts or smaller subdivisions. Unpopulated subdivisions should not be used to establish contiguous connection. IIUSA recommended that the new minimum investment be increased to $800,000 in TEAs and remain at $1 million in non-TEAs. IIUSA recommended that there be no geographic limitation on indirect job creation or other changes to current job creation methods or metrics. IIUSA recommended that reforms be applicable only to I-526 petitions who file after the enactment data of any new EB-5 legislation.To view the letter in its entirety, click on this link to IIUSA.
– See more at: http://www.datsyn.com/article/4917/2015/11/07/Proposal-for-Long-Term-Re-Authorization-Reform-of-the-EB-5-Regional-Center#sthash.uRwGQYgk.dpuf