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The regulation states you have obtained 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 a question: Have you done any type of research on just how much money stays past the 2 years? And the solution was no


Legislator Grassley. Thank you, Mr. Chairman. I want to have a second round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this objection that the cash just needs to stay invested for 2 years. Has that been your experience? Mr. Divine. If cash gets taken into a resort, as I was starting to discuss earlier, the developer of that task would certainly have to be able to find someone to get the resort or would certainly have to be able to find somebody to refinance it with various other money.






It is not any type of much easier always than when it remained in the conditions that led to the foreign investors being the most effective choice for funding the point to begin with. Hi, if it is an effective job, it makes cash, and it can be marketed, I do not see any type of reason why the task ought to not be able to be sold and for the financier to be able to realize the return of his investment, possibly gain on his investment, simply like every other investor.

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If you have a job that is funded directly with the Immigrant Financier Program and it is thought to be using undocumented employees, Immigration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I mean, I assume what we require to realize additionally is that the situation that is being cited as evidence that sometimes these tasks have worked with an unapproved worker is one in which USCIS did some sort of checking and determined that the employee was not authorized and quit it.


Chairman Leahy. Yet that would coincide with any firm. Mr. Divine. Each of these employers is needed to complete the I-9 form, but USCIS goes a step better and does a check of some kind that caused the case that has actually been stated. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I imply, I advise that every one of you in fact-- Mr. North, in your case, obtain out from inside the Beltway and rise there and talk with a few of these individuals. For one point, you do not have way too many illegal immigrants that fairly have the Vermont accent you listen to around there, particularly when they speak concerning their grandparents that live there, and parents and more.


They will say, "We have actually got about 9 of us below, and we have been below because 5 o'clock this early morning, Mister." [Giggling.] Chairman Leahy. Not quite what a prohibited immigrant may be claiming. Actually, I assume Mr. Stenger would state that one of his British capitalists was thinking, "Are all of us speaking the exact same language below?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a previous agency official. What does it do if Congress maintains running up against a last-minute reauthorization? In this situation it would be, I believe, September of following year, September of 2012. What does that do to an agency trying to provide a program if Congress waits till the last couple of days to reauthorize it? What is the practical impact? Mr.

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I indicate, the firm essentially is-- USCIS is a fee-funded company, so it is basically type of running a business and has to cover its expenses with the income that is generated. To run this program appropriately, USCIS needs to staff up in a big means, dealing with the volume that is currently there and anticipating the EB5 Regional Center Program enhanced volume of more investment as we get also near fifty percent of the 10,000 visas that are readily available in this category.

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I mean, that has got to feel like a contrasting scenario, and you would visualize that it is mosting likely to hold somebody back. Now, I am not stating that they are keeping back, and I recognize that they are attempting to staff up because I make sure they believe and hope that the program will be reauthorized for the benefit of the Nation.


And is that really where they are going to be able to invest their time and resources in trying to clear the policies of this program to ensure that everyone recognizes whether they can certify or otherwise and which sort of tasks are mosting likely to certify etc? We require that consistently.


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