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The law says you have obtained to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings put on by USCIS, I asked an inquiry: Have you done any study on just how much money stays beyond the 2 years? And the response was no


Legislator Grassley. Thanks, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. Absolutely. Let me simply ask, Mr. Divine, you hear this objection that the cash just has to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If cash gets taken into a resort, as I was starting to describe earlier, the designer of that job would have to be able to find someone to get the hotel or would have to have the ability to locate somebody to refinance it with other money.






It is none much easier necessarily than when it remained in the conditions that caused the international financiers being the best option for funding things in the first location. Hi there, if it is a successful task, it makes money, and it can be offered, I do not see any reason why the task should not be able to be offered and for the capitalist to be able to realize the return of his financial investment, maybe get on his financial investment, just like every various other financier.

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If you have a job that is funded directly with the Immigrant Investor Program and it is believed to be using undocumented workers, Immigration and Traditions Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. Yet that would be the very same with any firm. Mr. Divine. Every one of these companies is required to complete the I-9 kind, but USCIS goes an action additionally and does a check of some kind that caused the case that has actually been pointed out. Chairman Leahy. I am not a witness below, yet I am so struck by Mr.


I imply, I recommend that every one of you really-- Mr. North, in your case, venture out from inside the Beltway and go up there and speak with several of these people. For something, you do not have a lot of illegal immigrants that fairly have the Vermont accent you listen to around there, specifically when they speak about their grandparents that live there, and parents and so forth.


They will claim, "We have obtained regarding 9 of us below, and we have been here considering that 5 o'clock this morning, Mister." [Laughter.] Chairman Leahy. Not rather what an illegal immigrant could be claiming. In fact, I think Mr. Stenger would state that of his British financiers was believing, "Are most of us speaking the exact 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 running up against a final reauthorization? In this case visite site it would certainly be, I think, September of next year, September of 2012. What does that do to a firm attempting to administer a program if check that Congress waits up until the last few days to reauthorize it? What is the useful impact? Mr.

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I mean, the agency basically is-- USCIS is a fee-funded company, so it is essentially type of running a business and has to cover its expenditures with the revenue that is created. To run this program appropriately, USCIS requires to staff up in a large method, managing the volume that is currently there and preparing for the increased quantity of more investment as we obtain also near fifty percent of the 10,000 visas that are available in this category.

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I imply, that has actually obtained to really feel like a conflicting scenario, and you would certainly visualize that it is mosting likely to hold someone back. Now, I am not saying that they are holding back, and I understand that they are trying to staff up due to the fact like this that I make sure 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 be able to invest their time and resources in trying to improve the rules of this program so that everybody knows whether they can qualify or not and which sort of tasks are going to qualify and so forth? We need that constantly.


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