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The law claims you have 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 concern: Have you done any type of research study on just how much cash stays past the 2 years? And the solution was no


Senator Grassley. Thank you, Mr. Chairman. I wish to have a second round. Chairman Leahy. . Allow me just ask, Mr. Divine, you hear this criticism that the money just needs to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains put into a resort, as I was starting to explain earlier, the designer of that project would have to be able to discover someone to acquire the resort or would certainly need to be able to discover somebody to refinance it with various other cash.






It is none easier always than when it was in the conditions that brought about the foreign investors being the very best choice for funding the point in the very first area. Hi there, if it is a successful task, it makes money, and it can be marketed, I do not see any type of factor why the job should not be able to be offered and for the investor to be able to understand the return of his investment, possibly get on his investment, simply like every other investor.

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If you have a project that is moneyed straight via the Immigrant Financier Program and it is believed to be utilizing undocumented workers, Migration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I suggest, I assume what we require to recognize also is that the instance that is being mentioned as evidence that in some cases these jobs have actually hired an unauthorized employee is one in which USCIS did some type of monitoring and established that the employee was not licensed and stopped it.


Mr. Divine. Every one of these companies is required to complete the I-9 type, but USCIS goes an action better and does a check of some kind that led to the case that has been stated. I am not a witness below, however I am so struck by Mr.

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I mean, Imply recommend that all of you actually-- Mr. North, in your case, get out obtain inside the Beltway and go up there and talk with chat of these people.


They will certainly state, "We have actually got concerning nine people here, and we have actually been here since 5 o'clock this early morning, Mister." [Laughter.] Chairman Leahy. Not fairly what an illegal alien could be claiming. In truth, I think Mr. Stenger would certainly say that one of his British capitalists was believing, "Are we all talking the same language below?" Mr.


I asked Mr. Stenger this. Allow me ask more info you what your experience is as a former firm official. What does it do if Congress maintains meeting a final reauthorization? In this situation it would be, I assume, September of next year, September of 2012. What does that do to a company trying to carry out a program if Congress waits up until the last couple of days to reauthorize it? What is the useful result? Mr.

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I suggest, the company in effect is-- USCIS is a fee-funded company, so it is basically type of running a company and has to cover its expenditures with the earnings that is produced. To run this program correctly, USCIS requires to staff up in a large way, taking care of the quantity that is currently there and preparing for the boosted quantity of even more financial investment as we get back at near to half of the 10,000 visas that are offered in this classification.

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I mean, that has actually obtained to really feel like a contrasting scenario, and you would visualize that it is going to hold someone back. Now, I am not stating that they are holding back, and I understand that they are attempting to staff up because I make sure they think and wish that the program will be reauthorized for the benefit of the Nation.


And is that truly where they are mosting likely to have the ability to invest their time and resources in attempting to clear the regulations of this program to ensure that everyone knows whether they can qualify or not and which type of projects are mosting likely to qualify etc? We need that continually.


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