Fall 2018 Unified Regulatory Agenda

October 18, 2018
Yesterday, October 17, the Trump Administration released the Fall 2018 Unified Regulatory Agenda.

It included one new regulatory item relating to the EB-5 Regional Center Program, Prerule "EB-5 Immigrant Investor Program Realignment". More information on the Prerule below.

The Agenda also has updated timelines for existing regulations including a new date for the "EB-5 Immigrant Investor Modernization" regulation to move to Final Rule on 11/00/2018, and updated date for the "EB-5 Immigrant Investor Regional Center Program" regulation to become a Proposed Rule on 03/00/2019.
Are you an IIUSA member that has questions or comments on any of these updates? Contact nicole.merlene@iiusa.org for more details.
NEW Prerule Stage: EB-5 Immigrant Investor Program Realignment (09/00/2019)

IIUSA will continue to monitor this development and keep Members informed. If you have any comments at this time please let us know. This rule is at its very early stages and will still need to go through a lengthy process before materializing.

Summary:

DHS will solicit public input on proposals that would increase monitoring and oversight, encourage investment in rural areas, redefine components of the job creation requirement, and define conditions for regional center designations and operations.
Final Rule Stage: EB-5 Immigrant Investor Program Modernization Updated Date: (11/00/2018)

A new timetable was released for the EB-5 Immigrant Investor Program Modernization Final Rule. The updated date has been set to November, 2018.

This regulation has not yet been sent to the Office of Information and Regulatory Affairs (OIRA), a part of the Office of Management and Budget (OMB), which is the government's central authority for the review of regulations. OIRA has a constantly updated website for regulatory actions under review by the agency that you can search at any time: Check to See if EB-5 Regulations are Under Review.
Proposed Rule Stage: EB-5 Immigrant Investor Regional Center Program (03/00/2019)

There has been no change in this regulation's timeline. The Notice of Proposed Rulemaking continues to be expected for release in March 2019.
IIUSA's Continued Engagement with USCIS

As reported earlier, on October 5, the IIUSA Board of Directors had a substantive and productive meeting with U.S. Citizenship and Immigration Services (USCIS) Director, L. Francis Cissna, USCIS Policy Director, Kathy Nuebel Kovarik, and Immigrant Investor Program Office (IPO) Chief, Sarah Kendall. The Administration is willing to continue a more open dialogue with IIUSA, the national trade association for the EB-5 industry, in a collective effort to improve Program integrity and improve efficiencies.

On Monday, October 29 th , IIUSA members and attendees of the IIUSA & AILA EB-5 Industry Forum in Chicago, IL will continue this discussion as IIUSA welcomes IPO Chief Sarah Kendall as a keynote speaker. 
Advocacy Toolkit

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