Temporary Extension of the Regional Center Program “As Is” Until December 8, 2017
In light of the announcement yesterday that President Trump and Congress have agreed to finance the Government, raise the debt limit and fund Hurricane Harvey relief through December 8, 2017, we are pleased to report that the EB-5 Regional Center program will be extended as is through the 8th of December. We believe that the various EB-5 stakeholders will work in the interim on the final touches to a legislative long-term extension of the program, much of which has largely been agreed to by the parties. It is expected that the legislation, which the parties hope to pass later in the Fall, will include an increase of the minimum investment amount to $800,000 for TEAs and $1,000,000 for non-TEAs; that the TEA definition will be tightened up significantly; and that there will be no-retroactivity. We will advise as the developments and details are finalized.
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