Sandra Dyche Kim works closely with businesses and investors involved in the EB-5 program. When it was set to expire in September of last year, Sandra Dyche Kim and CapSpan took an active part in ensuring the program was extended. A firm advocate for the program she’s seen help so many, Sandra Dyche Kim was proud that CapSpan was part of the program’s extension. Recently, Sandra Dyche Kim spoke to Information Nation about the process of getting EB-5’s reauthorization from a resolution to law.
Information Nation: Why was EB-5 set to expire?
Sandra Dyche Kim: When it was first put into law in 1992, EB-5 Regional Center was a “pilot program.” It has remained a pilot program since, going through extensions in 1997, 2000, 2003 and 2009. During the 2009 extension, the expiration was set as September 30, 2012.
Information Nation: What was CapSpan’s part in having the program extended?
Sandra Dyche Kim: Working with Akerman Senterfitt, we requested a resolution, which was submitted to the U.S. Conference of Mayors by a mayor from South Carolina. The resolution called for the program to be extended, pointing out that it has brought billions of dollars in contributions and helped create 95,000 jobs in the past seven years alone.
Information Nation: What was the result?
Sandra Dyche Kim: The Conference of Mayors passed the resolution, which asked Congress to extend the program. EB-5 has been extended to September 30, 2015.
Information Nation: What happens in 2015?
Sandra Dyche Kim: Unless the program is permanently reauthorized, we’ll see this same process in 2015. A resolution will need to be drafted to extend the resolution another three years.
Information Nation: Why not permanently reauthorize the program?
Sandra Dyche Kim: There are many advocates of reauthorizing the program because of its benefits to the country. Permanent reauthorization requires legislative action, so we recommend people contact their local senators or representatives to ask that they take action to set EB-5 as a permanent program.
Sandra Dyche Kim is a New York City-based entrepreneur who serves as a managing partner for CapSpan, an organization that connects investors with great opportunities. She is an advocate of permanent reauthorization of EB-5 due to its positive impact on the American economy through investments in businesses. IIUSA has more information on how concerned citizens can urge Congress to take action to ensure EB-5 endures for many more years.