GOP Rep. Goodlatte Pushes For EB-5 Reform Bill

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Law360, New York (September 12, 2016, 7:23 PM ET) — House Judiciary Committee Chairman Bob Goodlatte, R-Va., on Monday introduced a bill to implement reforms to and reauthorize the soon-to-be-expired EB-5 Regional Center Program, which would extend the program for five years and raise the minimum amount required from investors from $500,000 to $800,000, among other reforms.

Along with Rep. John Conyers, D-Mich., Goodlatte introduced H.R. 5992, also known as the American Job Creation and Investment Promotion Reform Act of 2016. Goodlatte has been an outspoken critic of the current EB-5 investor visa program, which rewards…

Source: Law360