Sens. Rally To Extend Expiring EB-5 Visa Program

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Law360, New York (December 4, 2015, 2:14 PM ET) — Two senators championed bipartisan legislation Friday to extend a key part of the EB-5 program — which lets foreigners invest in job-creating U.S. projects like commercial real estate developments in exchange for green cards — one week before the program will expire absent action from Capitol Hill.

With backing from Sen. Chuck Grassley, R-Iowa, Senate Judiciary Committee ranking member Patrick Leahy, D-Vt., released a draft of the proposed legislation Friday, which calls for raising the minimum required investment from $500,000 to $800,000 and extending the Regional…

Source: Law360