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The law claims 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 a concern: Have you done any study on exactly how much cash remains past the 2 years? And the answer was no


Senator Grassley. Thank you, Mr. Chairman. I would certainly such as to have a 2nd round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this criticism that the money just needs to continue to be spent for 2 years. Has that been your experience? Mr. Divine. If money gets put right into a resort, as I was starting to describe earlier, the designer of that job would have to have the ability to locate someone to get the hotel or would need to have the ability to discover somebody to refinance it with other cash.

It is none less complicated necessarily than when it remained in the conditions that led to the international investors being the very best choice for financing things in the first location. Hey, if it is a successful task, it makes cash, and it can be sold, I do not see any kind of factor why the task need to not be able to be offered and for the financier to be able to realize the return of his investment, maybe acquire on his investment, simply like every various other investor.

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If you have a project that is moneyed straight with the Immigrant Financier Program and it is believed to be using undocumented employees, Immigration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I indicate, I think what we require to recognize also is that the instance that is being pointed out as evidence that often these jobs have worked with an unapproved worker is one in which USCIS did some sort of monitoring and identified that the worker was not authorized and quit it.


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


I suggest, I recommend that all of you in fact-- Mr. North, in your case, go out from inside the Beltway and rise there and talk with some of these individuals. For one point, you do not have too numerous illegal aliens that quite have the Vermont accent you hear around there, particularly when they speak about their grandparents who live there, and parents and so forth.

They will certainly claim, "We have obtained about 9 of us below, and we have been below considering that 5 o'clock this morning, Mister." [Giggling.] Chairman Leahy. Not quite what an unlawful immigrant may be stating. Actually, I believe Mr. Stenger would certainly say that of his British investors was assuming, "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 authorities. What does it do if Congress keeps meeting a final reauthorization? In this case it would be, I assume, September of next year, September of 2012. What does that do to an agency attempting to administer a program if Congress waits up until the last couple of days to reauthorize it? What is the sensible effect? Mr.

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I imply, the company effectively is-- USCIS is a fee-funded company, so it is basically sort of running a company and has to cover its expenses with the income that is generated. To run this program properly, USCIS needs to staff up in a huge way, handling the volume that is already discover this info here there and anticipating the raised quantity of even more investment as we get back at close to my explanation fifty percent of the 10,000 visas that are readily available in this group.

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I imply, that has reached really feel like a contrasting situation, and you would visualize that it is going to hold somebody back. Now, I am not stating that they are keeping back, and I recognize that they are trying to staff up due to the fact that I make sure they think and hope that the program will certainly be reauthorized for the benefit of the Nation.


And is that actually where they are going to be able to spend their time and resources in attempting to clear the guidelines of this program to ensure that everyone knows whether they can qualify or otherwise and which kinds of jobs are going to qualify etc? We require that consistently.


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