I imagine that as EB5 regional centers and issuers rush to file project exemplars, we're probably going to see a lot projects that aren't fully baked when they get to USCIS. Is USCIS likely to have a threshold of what was or wasn't worthy of being filed prior to the enactment date?
Ron Klasko: We really don't know. The procedure described in the bill is not an exemplar. The language is “approval of a business plan”, which seems to mean what we now call an exemplar and we don't know what standards would be applied.
Traditionally the standard of an acceptable exemplar is that it is basically shovel ready. Assuming the exemplar is approved, it would mean that all the I-526`s would be immediately approvable. If there are any significant changes after the fact, then the exemplar would be of no further validity. Unfortunately, there's a catch 22 in all of this because the language of the bill does not grandfather other changes in the law, including significant changes to what counts for job creation.