This Monday morning, Carolyn Lee PLLC is pleased to share an important legislative update.
This past Friday, May 17, 2019, the EB-5 industry stakeholders sent a joint letter to Congress requesting a 6-year reauthorization of the EB-5 regional center program with shared legislative reform principles.
The full text of the letter is here.
The significance of this effort is that the EB-5 industry is for the first time expressing shared, single position on EB-5 legislative reform. This signals to Congress that EB-5 stakeholders are ready to work with Congress on legislation to bring stability, needed integrity reforms, modernized incentives, and much-needed essential visa backlog relief.
Below are the letter’s signatories. Congratulations to this group for working together in sending a unified message to Congress. There is now real hope for long-term EB-5 reauthorization.