On May 13, 2014, US Congressman Aaron Shock (R-IL) introduced a bill in the House of Representatives that, if passed, will further enhance the EB-5 program for both investors and Regional Centers, while potentially generating a stronger economy. The official name of the bill is H.R. 4659: The EB-5 Regional Center Extension Act of 2014.
The main features of the bill include:
- Replacing the limit on visa applications with a minimum number to be issued per year.
- Expanding the definition of indirect employment to satisfy the EB-5 job creation requirements.
- Giving Regional Center applicants priority consideration.
All of this, of course, bodes well. Govtrack.us estimates that the bill has a 9% chance of getting past committee and a 2% chance of being enacted. While those percentages seem low at first glance, only 11% of all bills introduced make it past committee and only 3% are ever enacted, so it is fair to say that there is a fair bit of optimism concerning passage.
Subscribe for News
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.