On September 5th, WorldWay learned from the Director of the House Judiciary Committee that legislative matters concerning the reauthorization of the E-B5 bill will be placed on the agenda after the upcoming “Congressional Recess.” This bill is regarded by House leaders as non-controversial and will pass directly without a full House vote. Similar to the text that has already passed in the Senate, the House is set to pass the EB-5 bill for a three-year extension without any additional procedural changes.
On August 2nd, the Senate unanimously passed the proposal to extend the S.3245 Investment Immigration Regional Center Act for three years. At that time, the House was in recess, and it needed to wait for the recess to end before the House could formally pass the resolution. Currently, the “Congressional Recess” has not yet concluded, but the passage of the EB-5 reauthorization bill is no longer in doubt, which is exciting news for EB-5 investors and the investment immigration industry.
