What TEA Projects Might Look Like Under EB-5 2.0: Alternatives Illustrated with Maps and Data
December 23, 2015
New York City developers and regional centers are breathing a collective sigh of relief that Congress extended the EB-5 Regional Center Program (the “Program”) for “one year,” until September 30, 2016, without any change. Since June 2015, when Senate Judiciary Chairman Grassley and ranking Democratic Senator Leahy introduced the EB-5 reform bill, the development community had braced for the worst while Congress debated behind closed doors the controversial provisions of the proposed law. The battle between senators of rural and urban states reflected the voices of a select few, powerful constituents. Despite broad-based support for EB-5 reform, three senators and one congressman were successful in preventing the enactment of this legislation.
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