Washington Report

Advocacy Updates from Washington D.C.

New Bill Reforms EB-5 Program

On September 24, 2019, Senator Chuck Grassley (R-IA) and Senator Patrick Leahy (D-VT) introduced the EB-5 Reform and Integrity Act of 2019 to reauthorize and reform the EB-5 Regional Center Program that aims to prevent fraud and promote foreign capital investment and job creation in American communities. This legislation includes long-term reauthorization of the program and includes provisions that would reform the program by introducing oversight, anti-fraud, accountability and integrity measures that investors and regional centers would have to follow.

NAR supports reform of the EB-5 program to ensure that the funds are used effectively and is reviewing this legislation to ensure it comports with current policy.  

The EB-5 Reform and Integrity Act of 2019 - Text of the Bill