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The legislation states you have actually got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences put on by USCIS, I asked a concern: Have you done any type of research on just how much cash remains past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I would love to have a second round. Chairman Leahy. Definitely. Allow me simply ask, Mr. Divine, you hear this criticism that the cash just has to stay invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains placed into a resort, as I was starting to explain earlier, the developer of that project would certainly need to have the ability to discover somebody to buy the resort or would certainly have to have the ability to discover someone to refinance it with various other money.

It is none simpler necessarily than when it remained in the conditions that led to the international capitalists being the very best option for financing the point to begin with. Hello, if it is an effective project, it makes cash, and it can be sold, I do not see any factor why the task should not be able to be marketed and for the financier to be able to recognize the return of his financial investment, perhaps get on his investment, simply like every other financier.

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If you have a job that is funded straight via the Immigrant Investor Program and it is believed to be using undocumented employees, Immigration and Customs Enforcement could explore the company, could they not? Mr. Divine. They could. I suggest, I think what we need to realize likewise is that the instance that is being pointed out as evidence that occasionally these projects have hired an unauthorized worker is one in which USCIS did some sort of checking and established that the worker was not accredited and stopped it.


Mr. Divine. Every one of these companies is needed to finish the I-9 form, however USCIS goes an action further and does a check of some kind that led to the case that has been discussed. I am not a witness here, however I am so struck by Mr.

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

They will certainly state, "We have obtained regarding 9 people right here, and we have been right here because 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not rather what an unlawful immigrant may be saying. I think Mr. Stenger would certainly say that one of his British capitalists was believing, "Are we all talking the very same language right here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a previous company authorities. What does click for source it do if Congress keeps meeting a final reauthorization? In this instance it would be, I assume, September of following year, September of 2012. What does that do to a company attempting to carry out a program if Congress waits until the last few days to reauthorize it? What is the functional impact? Mr.

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I suggest, the agency essentially is-- USCIS is a fee-funded firm, so it is basically sort of running a business and has to cover its expenses with the earnings that is produced. To run this program appropriately, USCIS requires to staff up in a huge method, dealing with the quantity that is currently there and preparing for the raised quantity of even more financial investment as we obtain also near fifty percent of the 10,000 visas that are readily available in this classification.

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I suggest, that has reached really feel like a conflicting circumstance, and you would certainly think of that it is mosting likely to hold someone back. Now, I am not stating that they are keeping back, and I recognize that they are attempting to staff up since I make sure they think and hope that the program will be reauthorized for the benefit of the Country.


And is that actually where they are mosting likely to Check This Out be able to invest their time and resources in trying to improve the guidelines of this program to make sure that everybody knows whether they can qualify or not and which type of jobs are mosting likely to qualify and so forth? We need that continuously.


And, Mr. Stenger, we in Vermont-- again, a little State, but we have the State web link federal government included with the Vermont Regional. Mr. Stenger.