The EB-5 Regional Center program is currently set to sunset September 30th.
The continuing resolution proposed in the Senate September 22nd includes provisions to extend the EB-5 Regional Center program through December 11, 2015 if passed.
The fiscal year for the U.S. federal government ends September 30th. Because Congress has not yet passed a federal budget for FY16, which begins October 1st, a continuing resolution is necessary to avoid a government shutdown.
Section 131 of the proposed continuing resolution would extend the Regional Center program through December 11, 2015, giving lawmakers additional time to pass legislation to reauthorize the program.
Bills proposed in both the House and the Senate to extend the EB-5 Regional Center program earlier this year have included additional regulations and compliance requirements for the EB-5 program.
Though a short-term extension would not include these changes, it does give Congress additional time to develop such legislation.
Ultimately, reauthorization of the EB-5 Regional Center program is expected to increase compliance requirements for the EB-5 industry, whether it takes place now or in December.
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