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EB-5 Insights Where Government Policies and Business Realities Converge

Congress Prepares Action to Avoid Government Shutdown and Fund Vital Programs Such as EB-5

Posted in EB-5, Government Shutdown

Late on Feb. 13, 2019, House and Senate Conferees on the Department of Homeland Security (DHS) Appropriations announced an agreement on DHS Appropriations for FY 2019 and the remaining six other outstanding FY 2019 Appropriations measures. The measure, HJ Res 31, or “the Omnibus,” is over 1,000 pages and deals with many areas of government, ranging from agriculture to transportation, among others.

Of particular importance to our readers, the EB-5 Immigrant Investor Program is extended until Sept. 30, 2019, in the following passage:

DIVISION H-EXTENSIONS, TECHNICAL CORRECTIONS, AND OTHER MATTERS TITLE I

IMMIGRATION EXTENSIONS

SEC. 104. Section 610(b) of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (8 B.SC. 1153 note) shall be applied by substituting “September 30, 2019” for “September 30, 2015”.

The Conference agreement and legislative package must now be presented and passed by the Senate and House and agreed to by the president before midnight on Feb. 15 to avoid a government shutdown.

Please check back, as we will continue to provide updates on significant developments. For more on the government shutdown, click here.

˘ Not admitted to the practice of law