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EB-5 Regional Center Program Extension Awaits Final Action from WashingtonDecember 24, 2020

On December 21st Congress passed an annual government funding bill known as the Consolidated Appropriations Act, 2021, which in part, extends the EB-5 Regional Center Program through June 30, 2021.  The bill was approved by Congress and as required, was then sent to the President to be signed into law.  President Trump has yet to sign the bill, instead calling on Congress to make substantial changes in the bill to cut certain spending and increase COVID relief payments to families.

Over the past two weeks, Congress has passed a series of days-long stop gap measures known as continuing resolutions to prevent a government shutdown and to allow more time to negotiate the terms of the 2021 funding package. The latest was a seven-day continuing resolution until December 28th when Congress is now set to reconvene.  Although the government will avoid the potential for a shutdown over the Christmas holiday many unknowns remain. However, it appears clear that the intention of lawmakers is for the EB-5 Regional Center Program to remain in place through June 30, 2021.

CMB will continue to monitor this extension, and what it could mean for future reauthorization and/or reform of the EB-5 Regional Center Program.

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If you would like to learn more about the EB-5 Investor Visa, or CMB’s current EB-5 offerings, please contact us to schedule a free initial consultation with a CMB Investor Relations Manager.

CMB engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships.

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