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The regulation claims you have actually obtained to spend for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked a question: Have you done any research on just how much money stays beyond the 2 years? And the answer was no


Senator Grassley. Thank you, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Absolutely. Allow me simply ask, Mr. Divine, you hear this criticism that the cash only has to remain spent for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a resort, as I was starting to explain earlier, the programmer of that task would certainly need to be able to find somebody to acquire the resort or would certainly have to be able to locate someone to refinance it with other money.

It is none much easier necessarily than when it remained in the conditions that brought about the foreign investors being the ideal choice for funding the important things in the first location. Hey, if it is an effective job, it makes money, and it can be marketed, I do not see any kind of reason why the project should not be able to be marketed and for the investor to be able to realize the return of his financial investment, possibly get on his investment, simply like every various other investor.

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If you have a task that is funded straight through the Immigrant Capitalist Program and it is believed to be using undocumented workers, Migration and Customs Enforcement could investigate the company, could they not? Mr. Divine.


Chairman Leahy. However that would coincide with any type of company. Mr. Divine. Every one of these companies is needed to complete the I-9 kind, yet USCIS goes a step additionally and does a check of some kind that resulted in the instance that has been pointed out. Chairman Leahy. I am not a witness here, however I am so struck by Mr.


I suggest, I suggest that all of you in fact-- Mr. North, in your case, venture out from inside the Beltway and increase there and talk with a few of these additional hints individuals. For something, you do not have a lot of unlawful immigrants that fairly have the Vermont accent you hear around there, particularly when they speak about their grandparents that live there, and moms and dads and so on.

They will certainly say, "We have actually got concerning nine people below, and we have been below considering that 5 o'clock this morning, Mister." [Laughter.] Chairman Leahy. Not fairly what an unlawful immigrant could be stating. Actually, I assume Mr. Stenger would claim that a person of his British investors was believing, "Are we all speaking the very same language here?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a former company official. What does it do if Congress keeps meeting a last-minute reauthorization? In this situation it would certainly be, I think, September of following year, September of 2012. What does that do to a firm trying to provide a program if Congress waits till the last few days to reauthorize it? What is the functional effect? Mr.

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I suggest, the agency basically is-- USCIS is a fee-funded agency, so it is essentially type of running an organization and needs to cover its expenditures with the revenue that is generated. To run this program correctly, investigate this site USCIS needs to staff up in a big method, dealing with the volume that is already there and expecting the raised quantity of more investment as we get even near to fifty percent of the 10,000 visas that are readily available in this category.

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I indicate, my explanation that has actually reached feel like a clashing situation, and you would envision that it is mosting likely to hold somebody back. Now, I am not claiming that they are holding back, and I understand that they are attempting to staff up because I am sure they think and hope that the program will be reauthorized for the benefit of the Country.


And is that really where they are mosting likely to be able to spend their time and sources in attempting to improve the guidelines of this program to ensure that everyone recognizes whether they can certify or otherwise and which kinds of projects are going to qualify and so forth? We need that constantly.


And, Mr. Stenger, we in Vermont-- once again, a little State, but we have the State government involved with the Vermont Regional. Mr. Stenger.