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The regulation says 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 concern: Have you done any research study on just how much cash remains past the 2 years? And the solution was no


Senator Grassley. Thank you, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Absolutely. Let me just ask, Mr. Divine, you hear this criticism that the cash just has actually to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a resort, as I was starting to explain earlier, the developer of that task would need to be able to discover someone to get the resort or would have to be able to find someone to re-finance it with other money.






It is not any easier necessarily than when it remained in the problems that caused the foreign investors being the most effective choice for funding the point to begin with. However, hello, if it is a successful project, it earns money, and it can be offered, I do not see any reason that the job ought to not be able to be marketed and for the capitalist to be able to realize the return of his financial investment, possibly acquire on his financial investment, much like every other capitalist.

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If you have a project that is moneyed directly through the Immigrant Investor Program and it is thought to be employing undocumented employees, Immigration and read more Traditions Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. That would certainly be the same with any firm. Mr. Divine. Every one of these employers is required to complete the I-9 kind, however USCIS goes an action additionally and does a check of some kind that caused the instance that has been stated. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I indicate, I advise that all of you in fact-- Mr. North, in your case, go out from inside the Beltway and go up there and chat with some of these individuals. For one point, you do not have too numerous prohibited immigrants who rather have the Vermont accent you listen to around there, especially when they speak about their grandparents who live there, and moms and dads and so on.


Mr.


I asked Mr. Stenger this. Mr.


I mean, the agency in effect is-- USCIS is a fee-funded agency, company it is essentially kind basically running a business and organization to cover its expenses with the income that earnings generated. To run this program appropriately, USCIS requires to staff up in a large way, dealing with the quantity that is currently there and expecting the boosted quantity of even more investment as we get also close to half of the 10,000 visas that are offered in this classification.

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I suggest, that has actually got to really feel like a conflicting circumstance, and you would envision that it is going to hold somebody back. Now, I am not saying that they are holding back, and I recognize that they are attempting to staff up because I make sure they believe and wish that the program will certainly be reauthorized for the advantage of the Nation.


And is that really 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 everybody recognizes whether they can certify or not and which type of tasks are going to qualify etc? We require that consistently.


And, Mr. Stenger, we in Vermont-- again, a small State, yet we have the State federal government included with the Vermont Regional. Mr. Stenger.