(Source: Greenberg Traurig) As April 28, 2017, approaches we are seeing the release of edits to proposed draft bills from the last session of Congress. Just today, Senator Patrick Leahy (D-VT) and Senator Charles Grassley (R-IA) circulated a staff draft very
similar to what was circulated in December 2016. We do expect to see
other drafts being circulated from other members of Congress and we will
be working with all EB-5 stakeholders on a potential EB-5 compromise.
It appears that the April 28 expiration of the program will be extended
for a few weeks in the short-term (maybe as long as four weeks) as
Congress works on other issues that need to be addressed to keep our
government open and funded. As you know, the comment period for the
proposed EB-5 regulations has been closed as of April 11. It is
possible that EB-5 legislation will be passed before the regulations are
implemented.
