New Lawsuit Seeks to Reverse Homeland Security's Decision on EB-5 Program
Public Policy & Regulation attorney Ronald Klein spoke with the South Florida Business Journal about a lawsuit that aims to reverse a decision from U.S. Citizenship and Immigration Services (USCIS) concerning the EB-5 visa program. The program allows immigrant investors to obtain U.S. residency if they fund projects that create at least 10 jobs in the U.S., and certified regional centers provide the majority of the funding. The program was discontinued in June 2021 but reauthorized in March under the Integrity Act. However, USCIS announced that previously certified regional centers would have to reapply for the program, spurring the lawsuit from one such affected center. Mr. Klein said he supports the lawsuit, explaining that requiring regional centers to reapply would delay projects across the country, including Florida.
"We believe that the court will read the statute, ascertain the legislative intent to not disrupt current regional centers' authority to operate and direct USCIS to interpret the language accordingly," he said.
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