EB-5 Regional Center Program To Be Reauthorized for 5 Years

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Mar 10, 2022, 10:15 ET

DALLAS, March 10, 2022 /PRNewswire/ -- After years of legislative advocacy and negotiation on Capitol Hill, Civitas Capital Group is proud to announce that the long-anticipated EB-5 Reform and Integrity Act of 2022 has been included in the Consolidated Appropriations Act of 2022 ("Appropriations Act"), the omnibus legislation to fund federal government operations. The Appropriations Act renews the EB-5 program for five years and contains integrity measures to increase transparency and protect our current and future clients.

The U.S. House of Representatives voted to approve the Appropriations Act late last night, and the U.S. Senate will approve the legislation before Friday, March 11th, for signature by President Biden. Civitas is grateful for the bipartisan work on Capitol Hill to reauthorize EB-5 and would like to celebrate the hard work of our home state Senator John Cornyn to renew this important tool for both rural and urban economic development. As we continue to recover from the pandemic, EB-5 will benefit the U.S. economy by creating American jobs and welcoming immigrant investors to the American dream.

A full summary of the EB-5 legislation and its impacts on the industry will be available once its passage into law is complete.

ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a nimble alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn. Learn more at civitascapital.com.

SOURCE Civitas Capital Group