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The regulation claims you have actually obtained to spend 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 question: Have you done any type of research study on just how much money remains past the 2 years? And the answer was no


Thank you, Mr. Chairman. Allow me just ask, Mr. Divine, you hear this criticism that the cash just has actually to stay invested for 2 years. Mr. Divine.






It is not any easier always than when it was in the problems that caused the foreign capitalists being the most effective option for funding the point in the very first location. Yet, hi, if it is an effective project, it earns money, and it can be sold, I do not see any type of reason why the task should not have the ability to be sold and for the financier to be able to realize the return of his financial investment, maybe get on his financial investment, much like every various other financier.

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If you have a job that is funded straight with the Immigrant Investor Program and it is thought to be using undocumented employees, Immigration and Customs Enforcement could explore the employer, could they not? Mr. Divine. They could. I mean, I assume what we require to recognize also is that the instance that is being cited as proof that occasionally these projects have actually employed an unauthorized employee is one in which USCIS did some kind of monitoring and established that the worker was not authorized and quit it.


Chairman Leahy. However that would be the very same with any kind of business. Mr. Divine. Every one of these employers is called for to complete the I-9 kind, but USCIS goes an action further and does a check of some kind that brought about the situation that has actually been stated. Chairman Leahy. I am not a witness below, 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 lots of illegal aliens who rather have the Vermont accent you listen to around there, especially when they speak concerning their grandparents who live there, and parents and more.


They will certainly state, "We have actually got concerning nine people right here, and we have actually been right here since 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal alien may be saying. In reality, I think Mr. Stenger would claim that one of his British capitalists was thinking, "Are all of us speaking the exact same language right here?" Mr.


I asked Mr. Stenger this. Allow 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 certainly be, more info I think, September of following year, September of 2012. What does that do to a firm attempting to provide a program if Congress waits till the last few days to reauthorize it? What is the functional result? Mr.

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I mean, the firm basically is-- USCIS is a fee-funded company, so it is essentially kind of running a business and needs to cover its costs with the income that is generated. To run this program correctly, USCIS needs to staff up in a large way, handling the volume that is currently there and anticipating the enhanced quantity of more investment as we get back at near fifty percent of the 10,000 visas that are readily available in this category.

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I indicate, that has actually got to seem like a conflicting situation, and you would think of that it is mosting likely to hold somebody back. Now, I am not stating that they are holding back, and I understand that they are trying to staff up because I make sure they think and wish that the program will be reauthorized for the advantage of the Country.


And is that truly where they are mosting likely to be able to spend their time and sources in attempting to clean up the policies of this program so that everybody understands whether they can certify or otherwise and which sort of jobs are going to qualify etc? We require that continually.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once again, a small State, but we have the State federal government entailed with the Vermont Regional Center. Does that add benefits to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the regional facility manager, and really I guess you would call it the owner of the regional facility, has been a tremendous advantage.