Bloomberg Law
July 1, 2015, 4:00 AM

Congress Seeks Path for Renewing
EB-5 Visa Regional Center Program

A congressional effort to keep a special immigration path open for wealthy foreign nationals has stalled, but bipartisan renewal legislation has been offered in the Senate Judiciary Committee.

Panel Chairman Charles Grassley (R-Iowa) and ranking member Patrick Leahy (D-Vt.) introduced S. 1501 on June 3, which would change the eligibility requirements for an expiring regional center portion of the EB-5 immigrant investor program, which is popular with Chinese investors.

Their proposal would strengthen incentives to invest in poorer and rural areas rather than thriving downtowns.

Committee members from states with large urban areas are opposing such changes, according to two ...