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The legislation says you have actually got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked an inquiry: Have you done any type of research on just how much cash remains beyond the 2 years? And the solution was no


Senator Grassley. Thanks, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this objection that the cash only has to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a hotel, as I was beginning to describe earlier, the designer of that task would certainly have to have the ability to find somebody to purchase the resort or would certainly need to have the ability to locate somebody to re-finance it with other money.






It is none easier necessarily than when it remained in the conditions that caused the international investors being the most effective choice for funding the important things in the initial area. But, hey, if it is a successful job, it earns money, and it can be sold, I do not see any kind of factor why the job ought to not have the ability to be offered and for the financier to be able to realize the return of his financial investment, possibly obtain on his financial investment, similar to every various other financier.

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If you have a job that is funded straight with the Immigrant Financier Program and it is thought to be utilizing undocumented workers, Migration and Traditions Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. That would be the exact same with any kind of company. Mr. Divine. Every one of these companies is called for to finish the I-9 kind, but USCIS goes an action even more and does a check of some kind that caused the case that has actually been discussed. Chairman Leahy. I am not a witness below, but I am so struck by Mr.


I suggest, I recommend that all of you actually-- Mr. North, in your instance, venture out from inside the Beltway and go up there and speak with several of these people. For one point, you do not have way too many unlawful immigrants that quite have the Vermont accent you listen to around there, especially when they speak about their grandparents that live there, and moms and dads and so forth.


They will say, "We have actually obtained concerning 9 of us below, and we have actually been right here because 5 o'clock today, Mister." [Laughter.] Chairman Leahy. Not fairly what an unlawful immigrant could be saying. As a matter of fact, I assume Mr. Stenger would claim that one of his British financiers was believing, "Are most of us speaking the exact same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former agency official. What does it do if Congress maintains running up versus a final reauthorization? In this instance it would be, I believe, September of next year, September of 2012. What does that do to a company attempting to administer a program if Congress waits till the last few days to reauthorize it? What is the useful effect? Mr.

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I mean, the firm essentially is-- USCIS is a fee-funded firm, so it is basically type of running a service and needs to cover its expenses with the revenue that is created. To run this program appropriately, USCIS needs to staff up in a huge means, handling the quantity that is already there and expecting the enhanced quantity of more financial investment as we obtain even close to half of the 10,000 visas that are offered in this category.

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I indicate, that has actually obtained to really feel like a conflicting circumstance, and you would envision that it is going to more info hold someone back. Currently, I am not stating that they are holding back, and I recognize that they are attempting to staff up since I am certain they think and wish that the program will certainly be reauthorized for the advantage of the Nation.


And is that really where they are going to have the ability to spend their time and sources in trying to clean up the rules of this program so that everybody understands whether they can certify or not and which kinds of tasks are mosting likely to qualify and so forth? We require that consistently.


And, Mr. Stenger, we in Vermont-- again, a tiny State, yet we have the State federal government included with the Vermont Regional. Mr. Stenger.