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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 meetings put on by USCIS, I asked a concern: Have you done any kind of study on exactly how much money remains beyond the 2 years? And the response was no


Senator Grassley. Thanks, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. Certainly. Let me just ask, Mr. Divine, you hear this objection that the cash just needs to remain spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a resort, as I was beginning to explain earlier, the programmer of that job would certainly need to have the ability to locate someone to purchase the resort or would need to be able to locate someone to re-finance it with various other money.






It is not any type of simpler necessarily than when it remained in the conditions that caused the international capitalists being the very best choice for funding the important things to begin with. Hi, if it is an effective job, it makes money, and it can be sold, I do not see any kind of factor why the project must not be able to be offered and for the investor to be able to recognize the return of his investment, perhaps acquire on his investment, simply like every other financier.

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If you have a job that is moneyed straight through the Immigrant Financier Program and it is thought to be utilizing undocumented workers, Migration and Traditions Enforcement could explore the employer, could they not? Mr. Divine.


Chairman Leahy. However that would certainly coincide with any type of company. Mr. Divine. Every one of these employers is needed to complete the I-9 type, but USCIS goes a step even more and does a check of some kind that caused the instance that has been stated. Chairman Leahy. I am not a witness below, but I am so struck by Mr.


I mean, I suggest that all of you in fact-- Mr. North, in your situation, go out from inside the Beltway and rise there and speak with several of these individuals. For one thing, you do not have way too many illegal aliens who fairly have the Vermont accent you listen to around there, particularly when they discuss their grandparents who live there, and parents and so forth.


Mr.


I asked Mr. Stenger this. Mr.


I mean, indicate agency in effect is-- USCIS is a fee-funded agency, company it is essentially kind basically running a business and company to cover its expenses with the income that earnings generated. To run this program correctly, USCIS requires to staff up in a big method, dealing with the quantity that is already there and preparing for the enhanced volume of even more financial investment as we get also close to half of the 10,000 visas that are available in this category.

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I mean, that has reached seem like a contrasting situation, and you would certainly imagine that it is mosting likely to hold someone back. Currently, I am not saying that they are keeping back, and I recognize that they are attempting to staff up since I am certain they think and hope that the program will be reauthorized for the benefit of the Country.


And is that really where they are going to have the ability to invest their time and sources in attempting to clean up the guidelines of this program to make sure that everybody understands whether they can certify or otherwise and which sort of projects are going to certify and so forth? We require that continually.


And, Mr. Stenger, we in Vermont-- check here once more, a little State, however we have the State government involved with the Vermont Regional. Mr. Stenger.