On March 8, NAR, as part of a coalition of Real Estate and Investor organizations, submitted a letter to OMB Director, Mick Mulvaney. These organizations have supported, and continue to support, a set of comprehensive legislative reforms to the EB-5 Regional Center program that will safeguard national security, combat instances of fraud, change how economically distressed Targeted Employment Areas (TEAs) are defined with objective criteria, and reasonably increase the program’s investment levels. The organizations have sought to balance the interests of diverse stakeholders so that rural and urban areas have access to EB-5 investments and continue to believe that congressional action is the best way to achieve lasting reform.
NAR Coalition Letter to OMB Director Mulvaney Regarding OIRA's EB-5 Proposal
Issue Date: March 08, 2019
On March 8, NAR, as part of a coalition of Real Estate and Investor organizations, submitted a letter to OMB Director, Mick Mulvaney. These organizations have supported, and continue to support, a set of comprehensive legislative reforms to the EB-5 Regional Center program that will safeguard national security, combat instances of fraud, change how economically distressed Targeted Employment Areas (TEAs) are defined with objective criteria, and reasonably increase the program’s investment levels. The organizations have sought to balance the interests of diverse stakeholders so that rural and urban areas have access to EB-5 investments and continue to believe that congressional action is the best way to achieve lasting reform.
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