News & Alerts

EB-5 Reform and Integrity Act of 2021 Introduced

by Carolyn Lee

Mar 18, 2021

Legislation On The Move wide

EB-5 Reform and Integrity Act of 2021 Introduced

March 18, 2021

Senator Chuck Grassley (R-Iowa), Ranking Member of the Senate Judiciary Committee, and Senator Patrick Leahy (D-Vt.), a senior member and former chairman of the Judiciary Committee, today introduced the EB-5 Reform and Integrity Act of 2021 (the Integrity Act). The Integrity Act brings a 5-year reauthorization to the EB-5 regional center program. See Carolyn Lee’s updated section-by-section summary.

The Integrity Act also embeds regional center oversight measures reflecting reasonable controls without harsh vicarious liability for third parties’ acts. In this respect, the bill reflects the most closely-negotiated set of oversight measures since EB-5 program reform was first proposed with S. 1501 in 2015, a bill also introduced by then-chairman Senator Grassley.

Senators Grassley and Leahy released a joint statement noting IIUSA‘s support for the bill.

***

Carolyn Lee is Legislation Counsel for IIUSA and is a long-time advocate of permanent EB-5 program reauthorization.

Related Posts

Presidents Day: Office Closed on Monday, Feb. 19
Presidents Day: Office Closed on Monday, Feb. 19

Happy Presidents Day! Our office is closed on Monday, February 19, in observance of Presidents Day. We will reopen on Tuesday, February 20, at 9 am Eastern Time. Please note that there may be a slight delay in response during this time, but we will get back to you as...