H. R. 4659
The EB-5 Regional Center Extension Act
Introduced in the House of Representatives by Congressman Aaron Schock( R-IL) and Congresswoman Tulsi Gabbard( D-HI)
On May 13, 2014 Proposes:
• Making the EB-5 regional center program permanent
• Setting aside 3,000 visas for regional center investors
• Granting employment-visa priority to program participants
• Eliminating per-country limitations on visa allowances
“ Repeatedly, EB-5 program extensions have received overwhelming bipartisan support. This much-needed legislation underscores the importance of an incremental approach to immigration reform as Congress seeks common ground to address our nation’ s broken system.”
– Congressman Aaron Schock
The EB-5 Regional Center Extension Act is the simplest of the current legislation on the table, and intentionally so. According to the office of Congressman Schock, the EB-5 program works and the cosponsors of this bill seek to draw on continual bipartisan support for the program and make it permanent. Additionally, the bill seeks to eliminate per-country caps, because as the cosponsors see it, there is no need to limit the amount of capital that can flow into the United States based on the nationality of investors. As far as wider EB-5 reforms go, Congressman Schock’ s team is counting on comprehensive immigration reform to strengthen the program in a more holistic way.
Congresswoman Tulsi Gabbard
Congressman Aaron Schock www. EB5Investors. com
Continued on page 54
53