When is the legislative deadline for the EB-5 immigrant investor pilot program to be reauthorized? What happens if the program is not reauthorized.
Answers
Kate Kalmykov
Immigration AttorneysThe EB-5 Regional Center Pilot Program is set to sunset on September 30th. We may not know if it has been extended up until the date of expiration. Please see my blog post at:
How Would a Sunset of the EB-5 Regional Center Pilot Program Impact Applications Currently Under USCIS Review? to learn more about the implications of what would happen to pending applications absent a reauthorization by Congress.
David Hirson
Immigration AttorneysThe pilot program is due to sunset on September 30, 2012. The expectation is that is will be extended. The timing is unknown. Historically there was an occasion where the renewal had to be enacted with retroactive effect. Expect last minute action on this issue.
Boyd Campbell
Immigration AttorneysThere is no legislative deadline, but the regional center program (not the regular EB-5 Program) sunsets on Sept. 30. There are two approaches: a bill with bipartisan support to make four visa programs (including the regional center part of the EB-5 Program) permanent. If that doesn''t work out, there will probably be an extension of years (3 to 5) in the appropriations bill. If the regional center part of the program terminates on Sept. 30, petitions already filed will be adjudicated by USCIS. And investors with approved I-526 petitions will be able to file I-829 petitions to remove conditions on residence.
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