Status Check on Pending EB-5 Legislation

You may wonder why you haven’t heard much about lately about pending legislation relative to the EB-5 investment immigration program. There is a reason for that. Not much has been happening. Here is a summary to current pending legislation on the topic.

S. 1501: American Job Creation and Investment Promotion Reform Act of 2015. This bill was introduced by Vermont Senator Patrick Leahy on June 3, 2015. Among other things, if passed, it would extend the EB-5 Regional Center program through September 30, 2020. The bill was referred to the Senate Judiciary Committee for consideration. It is still in committee. According to www.govtrac.us, the bill has a 14% chance of getting past committee and a 4% chance of being enacted.

 

H.R. 616: American Entrepreneurship and Investment Act of 2015. This bill was introduced by Colorado Congressman Jared Polis on January 28, 2015. Among other things, if passed, this bill would make the EB-5 immigration investor program permanent. Upon introduction, the bill was referred to the House Judiciary Committee for Immigration and Border Security. It is still in committee. The bill has been given a 2% chance of getting past committee and a 0% of being enacted.

H.R. 3370: EB-JOBS Act of 2015. This bill was introduced by California Congresswoman Zoe Lofgren on July 29, 2015. Among other things, if passed, this bill would make the EB-5 immigration investor program permanent and provide a set-aside of 5,000 visas. Upon introduction the bill was referred to the House Education and the Workforce Committee, the House Rules Committee, and the House Judiciary Committee for Immigration and Border Security. It is still in committee. The bill has been given a 0% change of getting past committee and, therefore, a 0% chance of being enacted.

S. 2122: Invest in Our Communities Act. This bill was introduced by Kentucky Senator Rand Paul on October 1, 2015. Among other things, if passed, this bill would permanently reauthorize EB-5 Regional Centers and exclude EB-5 visas from country caps. Upon introduction the bill was referred to the Senate Judiciary Committee. It is still in committee. It has been given a 6% chance of getting past committee and a 1% chance of being enacted.

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