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Democratic and Republican Negotiators in the House and Senate are working through the EB-5 Regional Center Program’s reauthorization and have not reached consensus as of this writing. The House and the Senate must agree on language and pass that identical language in both Chambers prior to September 30, 2015 in order to effectuate the desired more comprehensive reform of the program.  The chances of that happening , however, given the few legislative days in the House in the Senate – fewer than 10 – is challenging.  The more likely scenario will be the program’s temporary extension with three other immigration-related programs that are also slated to sunset at the month’s end.  This temporary extension will most probably be a shorter term extension as part of the larger Continuing Resolution (“CR”) – a bill that will be introduced to keep significant parts of the U.S. government open following the end of the government fiscal year on September 30, 2015.   The CR is something that has become a Congressional fall back in lieu of passing actual spending bills.  At this point there is even a question about whether the CR can be passed in time so as to prevent a government shutdown.  All that being said, September 30, 2015 remains a critical deadline for reauthorization of the EB-5 program.

 

 

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Photo of Laura Foote Reiff‡ Laura Foote Reiff‡

Laura Foote Reiff is the Co-Managing Shareholder of the Northern Virginia Office. She also Co-Chairs the firm’s Labor & Employment Practice’s International Employment, Immigration & Workforce Strategies group. Laura focuses her practice on business immigration laws and regulations affecting U.S. and foreign companies,

Laura Foote Reiff is the Co-Managing Shareholder of the Northern Virginia Office. She also Co-Chairs the firm’s Labor & Employment Practice’s International Employment, Immigration & Workforce Strategies group. Laura focuses her practice on business immigration laws and regulations affecting U.S. and foreign companies, as well as related employment compliance and legislative issues.

Laura advises corporations on a variety of compliance-related issues, particularly related to Form I-9 eligibility employment verification matters. Laura has been involved in audits and internal investigations and has successfully minimized monetary exposure as well as civil and criminal liabilities on behalf of her clients. She develops immigration compliance strategies and programs for both small and large companies. Laura performs I-9, H-1B and H-2B compliance inspections during routine internal reviews, while performing due diligence (in the context of a merger, acquisition or sale) or while defending a company against a government investigation.

Laura represents many businesses in creating, managing and using “Regional Centers” that can create indirect jobs toward the 10 new U.S. jobs whose creation can give rise to EB-5 permanent residence for investment. She coordinates this work with attorneys practicing in securities law compliance, with economists identifying “targeted employment areas” and projecting indirect job creation, and with licensed securities brokers coordinating offerings. She also represents individual investors in obtaining conditional permanent residence and in removing conditions from permanent residence.

Laura’s practice also consists of managing business immigration matters and providing immigration counsel to address the visa and work authorization needs of U.S. and global personnel including professionals, managers and executives, treaty investors/ traders, essential workers, persons of extraordinary ability, corporate trainees, and students. She is an immigration policy advocacy expert and works on immigration reform policies.