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The law says you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked a question: Have you done any research on how much money stays past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a 2nd round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this criticism that the cash just has to stay spent for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a resort, as I was beginning to clarify earlier, the developer of that job would certainly need to have the ability to discover somebody to purchase the hotel or would certainly have to be able to discover someone to refinance it with other money.






It is none easier necessarily than when it remained in the problems that led to the international capitalists being the ideal choice for financing the important things in the initial area. Hi, if it is a successful job, it makes money, and it can be marketed, I do not see any type of factor why the project must not be able to be sold and for the capitalist to be able to realize the return of his financial investment, maybe get on his financial investment, just like every various other investor.

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If you have a task that is moneyed directly through the Immigrant Investor Program and it is thought to be employing undocumented workers, Migration and Traditions Enforcement could examine the employer, could they not? Mr. Divine. They could. I suggest, I assume what we require to recognize likewise is that the situation that is being cited as proof that in some cases these jobs have actually worked with an unauthorized worker is one in which USCIS did some sort of checking and identified that the worker was more info not accredited and stopped it.


Mr. Divine. Every one of these companies is required to complete the I-9 kind, but USCIS goes an action even more and does a check of some kind that led to the situation that has been stated. I am not a witness here, however I am so struck by Mr.

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


They will say, "We have actually got about 9 of us below, and we have been here since 5 o'clock this early morning, Mister." [Laughter.] Chairman Leahy. Not fairly what an unlawful immigrant could be stating. As a matter of fact, I assume Mr. Stenger would claim that a person of his British investors was believing, "Are we all talking the same language below?" 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 running up versus a last-minute reauthorization? In this situation it would certainly be, I think, September of next year, September of 2012. What does that do to a firm trying to carry out a program if Congress waits until the last few days to reauthorize it? What is the sensible effect? Mr.

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I mean, the agency essentially is-- USCIS is a fee-funded company, so it is basically kind of running a service and needs to cover its costs with the earnings that is produced. To run this program properly, USCIS requires to staff up in a large means, managing the quantity that is currently there and anticipating the increased volume of more financial investment as we get even near to fifty percent of the 10,000 visas that are readily available in this group.

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I indicate, that has actually reached seem like a clashing situation, and you would imagine that it is going to hold somebody back. Now, I am not stating that they are keeping back, and I recognize that they are attempting to staff up because I make certain they believe and really hope that the program will be reauthorized for the advantage of the Country.


And is that actually where they are going to be able to invest their time and resources in trying to clean up the policies of this program to make sure that everyone knows whether they can qualify or not and which kinds of projects are going to qualify and so forth? We need that continuously.


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