We at IKS ESQ LLC are excited to report that The Federal District Court for the Northern District of California has just ruled that USCIS is “preliminarily enjoined from treating as deauthorized the previously designated regional centers based on its almost certainly erroneous interpretation of the Integrity Act. Of course, the agency may do whatever is reasonably necessary to ensure that existing regional centers comply with the Integrity Act, but those centers must presently be permitted to operate within the regime of the Act.” litigation continues in a hearing scheduled July 14th, 2022.
A plain reading of this statement indicates the current interpretation of the EB5 Reauthorization Bill is “almost certainly erroneous” and its effect on deauthorizing Regional Centers has been suspended for now. At this time, Regional Centers should be “permitted to operate within the regime of the Act”.
Our team will continue to keep our clients up to date on with any additional developments.