EB5 Investors Magazine Volume 2 Issue 2 | Page 55

H . R . 4659

The EB-5 Regional Center Extension Act

Introduced in the House of Representatives by Congressman Aaron Schock ( R-IL ) and Congresswoman Tulsi Gabbard ( D-HI )
On May 13 , 2014 Proposes :
• Making the EB-5 regional center program permanent
• Setting aside 3,000 visas for regional center investors
• Granting employment-visa priority to program participants
• Eliminating per-country limitations on visa allowances
“ Repeatedly , EB-5 program extensions have received overwhelming bipartisan support . This much-needed legislation underscores the importance of an incremental approach to immigration reform as Congress seeks common ground to address our nation ’ s broken system .”
– Congressman Aaron Schock
The EB-5 Regional Center Extension Act is the simplest of the current legislation on the table , and intentionally so . According to the office of Congressman Schock , the EB-5 program works and the cosponsors of this bill seek to draw on continual bipartisan support for the program and make it permanent . Additionally , the bill seeks to eliminate per-country caps , because as the cosponsors see it , there is no need to limit the amount of capital that can flow into the United States based on the nationality of investors . As far as wider EB-5 reforms go , Congressman Schock ’ s team is counting on comprehensive immigration reform to strengthen the program in a more holistic way .
Congresswoman Tulsi Gabbard
Congressman Aaron Schock www . EB5Investors . com
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