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The law states 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 type of research on just how much cash stays beyond the 2 years? And the solution was no

Legislator Grassley. Thank you, Mr. Chairman. I would like to have a second round. Chairman Leahy. Definitely. Allow me simply ask, Mr. Divine, you hear this objection that the money just has actually to stay invested for 2 years. Has that been your experience? Mr. Divine. If money obtains placed right into a hotel, as I was starting to clarify earlier, the programmer of that project would need to be able to find somebody to purchase the hotel or would have to be able to locate someone to refinance it with other money.




It is none much easier always than when it remained in the conditions that led to the foreign investors being the very best option for funding the important things to begin with. Hey, if it is a successful job, it makes money, and it can be offered, I do not see any factor why the task should not be able to be marketed and for the financier to be able to understand the return of his financial investment, possibly gain on his financial investment, simply like every various other capitalist.

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If you have a task that is funded directly with the Immigrant Investor Program and it is thought to be utilizing undocumented workers, Immigration and Customs Enforcement could examine the company, could they not? Mr. Divine. They could. I mean, I think what we need to recognize likewise is that the situation that is being cited as proof that in some cases these projects have employed an unauthorized employee is one in which USCIS did some sort of monitoring and identified that the worker was not accredited and quit it.

Mr. Divine. Every one of these employers is required to complete the I-9 form, yet USCIS goes a step additionally and does a check of some kind that led to the instance that has been pointed out. I am not a witness below, however I am so struck by Mr.

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

Mr.

I asked Mr. Stenger this. Mr.

I mean, the agency in firm is-- USCIS is a fee-funded agency, so it is essentially kind of running a business and organization to cover its expenses with the income that is generated. To run this program correctly, USCIS requires to staff up in a huge way, dealing with the quantity that is already there and preparing for the boosted volume of even more financial investment as we get also close to half of the 10,000 visas that are available in this classification.

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I indicate, that has actually reached seem like a contrasting scenario, and you would certainly think of that it is going to hold somebody back. Currently, I am not claiming that they are holding back, and I know that they are attempting to staff up due to the fact that I make sure they believe and really hope that the program will be reauthorized for the advantage of the more info Nation.

And is that actually where they are going to have the ability to invest their time and sources in trying to clean up the rules of this program so that everyone recognizes whether they can certify or otherwise and which kinds of tasks are mosting likely to qualify and so forth? We need that consistently.

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

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