26 Jun EB-5 REAUTHORIZATION – RULES & REGULATIONS
The much-awaited reauthorization of the EB-5 program was signed into law on March 15, 2022! The new EB-5 legislation ensures that the Regional Center program will be extended through September 30, 2027.
Details of the New Legislation:
Investment Amounts:
Under the new legislation, the investment amounts for new EB-5 investors will increase to $800K for an investment in a project located within a TEA and $1,050,000 for investment in project outside a TEA. However, the bill clarifies, that those investors that have already filed their EB-5 petition will not be required to add additional funds to their investment and their investment requirements will remain at $500k and $1.0 Million respectively.
“Grandfathering“
The bill preserves the eligibility of all pre-enactment investors as of the time they filed their I-526, for both I-526 and I-829 adjudication. While the prior regional center (RC) law was repealed and replaced by the new law, the adjudication and visa allocation for Regional Center investors who invested prior to the change will continue.
Safeguarding Investors:
One clause which was added with this new legislation, requires the continuation of processing petitions that were filed prior to an expiration of the program, should the program not be renewed by the expiration date. This will hopefully safeguard future investors from hanging in limbo should the program ever not be reauthorized.
The bill also puts in place several reforms to the Regional Center program which serve to provide more regulation and oversight of Regional Centers which serves to safeguard investors. At AscendAmerica, we welcome these reforms to the program as we have always held ourselves to the standards that the new regulations impose and our business model is designed to protect our investors as much as possible.