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What Will Be Addressed in EB-5 Renewal Legislation?

LOS ANGELES—The current authorizing legislation is set to expire or "sunset" Sept. 30, 2016. One source tells us the key issues that must be considered now for the renewal legislation.

Jim Butler, chair of the global hospitality and Chinese investment groups with Jeffer Mangels Butler & Mitchell Jim Butler, chair of the global hospitality and Chinese investment groups with Jeffer Mangels Butler & Mitchell

LOS ANGELES—“The US immigration laws contain a provision to grant certain qualified foreign investors a “fast-track” to obtain permanent residency in the US if they satisfy specified requirements, including investment of at least $500,000 in a US enterprise or project, creation of at least 10 new permanent jobs for US citizens, and otherwise complying with the immigration visa process.” This provision has been part of our immigration laws since 1990, explains Jim Butler, chair of the global hospitality and Chinese investment groups with Jeffer Mangels Butler & Mitchell.

As further background, Butler says that in addition to the basic permanent legislation, a “Pilot Program” regarding Regional Centers (or RCs) was adopted in 1992. Although it has never lapsed, the Regional Center provisions have typically been renewed for relatively short periods (e.g. 1 to 5 years). The current authorizing legislation is set to expire or “sunset” September 30, 2016.

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Natalie Dolce

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

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