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The regulation claims you have actually obtained to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked an inquiry: Have you done any kind of research on just how much money remains past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. Definitely. Allow me just ask, Mr. Divine, you hear this criticism that the cash only has to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash gets put into a resort, as I was starting to describe earlier, the designer of that job would certainly have to be able to find somebody to acquire the resort or would certainly have to be able to locate someone to refinance it with other cash.






It is not any type of much easier necessarily than when it remained in the conditions that brought about the foreign capitalists being the very best option for funding the thing to begin with. Yet, hello, if it is an effective project, it makes cash, and it can be sold, I do not see any kind of reason that the task ought to not have the ability to be sold and for the capitalist to be able to realize the return of his investment, possibly acquire on his financial investment, just like every other capitalist.

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If you have a job that is funded straight with the Immigrant Investor Program and it is thought to be utilizing undocumented workers, Migration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I imply, I think what we require to realize additionally is that the situation that is being cited as proof that in some cases these tasks have worked with an unapproved worker is one in which USCIS did some type of checking and figured out that the worker was not accredited and stopped it.


Mr. Divine. Every one of these employers is called for to finish the I-9 form, but USCIS goes an action further and does a check of some kind that led to the situation that has actually been stated. I am not a witness below, but I am so struck by Mr.

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


They will certainly say, "We have actually got concerning nine people here, and we have actually been right here since 5 o'clock this early morning, Mister." [Laughter.] Chairman Leahy. Not fairly what an illegal alien could be saying. In truth, I think Mr. Stenger would claim that a person of his British capitalists was thinking, "Are most of us talking the same language here?" 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 meeting a last-minute reauthorization? In this case it would certainly be, I think, September of following year, September of 2012. What does that do to a firm attempting to carry out a program if Congress waits until the last few days to reauthorize it? What is the useful result? Mr.

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I indicate, the firm effectively is-- USCIS is a fee-funded firm, so it is essentially type of running an organization and needs to cover its expenditures with the income that is created. To run this program correctly, USCIS needs to staff up in a large way, dealing with the volume that is currently there and anticipating the increased quantity of more financial investment as we get back at near half of the 10,000 visas that are available in this group.

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I imply, that has actually obtained to really feel like a contrasting situation, and you would envision that it is mosting likely to hold someone back. Currently, I am not claiming that they are keeping back, and I know that they are trying to staff up because I make certain they believe and really hope that check here 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 spend their time and sources in trying to remove up the policies of this program to ensure that everyone understands whether they can certify or otherwise and which type of jobs are going to qualify and so forth? We require that continually.


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