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The legislation states you have actually got 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 concern: Have you done any kind of study on just how much cash remains past the 2 years? And the response was no


Senator Grassley. Thank you, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. Absolutely. Allow me simply ask, Mr. Divine, you hear this objection that the cash just has actually to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a resort, as I was starting to explain earlier, the developer of that project would certainly need to be able to discover someone to acquire the hotel or would have to have the ability to locate someone to re-finance it with various other cash.

It is none easier necessarily than when it was in the problems that caused the foreign capitalists being the finest option for funding things in the first area. Hey, if it is an effective project, it makes money, and it can be sold, I do not see any kind of reason why the task should not be able to be offered and for the capitalist to be able to realize the return of his investment, possibly get on his investment, just like every other investor.

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If you have a project that is moneyed straight via the Immigrant Investor Program and it is thought to be using undocumented workers, Immigration and Traditions Enforcement could examine the company, could they not? Mr. Divine. They could. I imply, I believe what we need to recognize additionally is that the case that is being pointed out as proof that in some cases these tasks have employed an unapproved employee is one in which USCIS did some kind of checking and figured out that the employee was not authorized and stopped it.


Mr. Divine. Every one of these employers is required to complete the I-9 type, yet USCIS goes an action further and does a check of some kind that led to the situation that has actually been discussed. I am not a witness below, but I am so struck by Mr.

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I mean, Imply recommend that all of you actually-- In fact North, in your case, situation out from inside the Beltway and go up there and talk with some of these people.

They will state, "We have obtained concerning nine people right here, and we have actually been below since 5 o'clock this early morning, Mister." [Giggling.] Chairman Leahy. Not fairly what an illegal alien could be saying. I believe Mr. Stenger would certainly state that one of his British financiers was thinking, "Are we all talking the very same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former firm official. What does it do if Congress keeps running up versus a last-minute reauthorization? In this situation it would be, I assume, September of following year, September of 2012. What does that do to a company attempting to provide a program if Congress waits till the last few days to reauthorize it? What is the practical impact? Mr.

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I suggest, the company essentially is-- USCIS is a fee-funded agency, so it is essentially sort of running a service and has to cover its costs with the earnings that is generated. To run this program correctly, USCIS needs to staff up in a big method, handling the quantity that is already there and anticipating the increased quantity of more investment as we get even close to fifty percent of the 10,000 visas that are readily available in this group.

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I suggest, that has got to really feel like a contrasting situation, and you would certainly think of that it is mosting likely to hold someone back. Now, I am not stating that they are keeping back, and I know that they are trying to staff up due to the fact that I am sure they think and wish that the program will certainly be reauthorized for the benefit of the Country.


And is that actually where they are mosting likely to have the ability to invest their time and resources in trying to clean up the policies of check here this program to make sure that everyone recognizes whether they can certify or not and which type of jobs are going to qualify etc? We require that continually.


And, Mr. Stenger, we in Vermont-- once again, a little State, however we have the State federal government entailed with the Vermont Regional. Mr. Stenger.