As an update to our earlier post, on Monday, September 12, Rep. Bob Goodlatte (R-Va) officially introduced H.R. 5992, “The American Job Creation and Investment Promotion Reform Act of 2016”. The Bill’s progress may be tracked online at Congress.gov.
Per its web site postings earlier today, the House Judiciary Committee was to hold markup on the Goodlatte Bill tomorrow (Sept. 14) at 10:00 AM EDT. However, that scheduled markup has been cancelled and the Judiciary Committee will instead consider a different bill at that time. It is unclear if and when markup of H.R. 5992 will be rescheduled.
EB-5 legislation prior to the Regional Center Program’s looming September 30th sunset remains unclear as of today. Proponents of the Goodlatte Bill may attempt to incorporate its provisions as part of a continuing resolution intended to fund the U.S. government until after the November elections. A temporary extension of the program without changes (as was done twice in 2015) may also still be possible. We will continue to monitor and report on developments from Washington regarding the EB-5 Regional Center extension and any possible reforms.
