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The legislation claims you have actually obtained 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 an inquiry: Have you done any type of study on exactly how much cash remains past the 2 years? And the solution was no


Legislator Grassley. Thank you, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Certainly. Let me simply ask, Mr. Divine, you hear this criticism that the cash only has actually to remain invested for 2 years. Has that been your experience? Mr. Divine. If money gets put into a resort, as I was starting to discuss earlier, the programmer of that project would need to be able to discover somebody to get the resort or would have to be able to find somebody to refinance it with various other money.






It is not any kind of less complicated necessarily than when it remained in the problems that resulted in the foreign financiers being the very best option for financing the important things in the first place. Yet, hello, if it is a successful job, it earns money, and it can be marketed, I do not see any type of factor why the task need to not have the ability to be sold and for the investor to be able to recognize the return of his investment, perhaps gain on his investment, just like every other financier.

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If you have a task that is funded directly via the Immigrant Capitalist Program and it is believed to be employing undocumented workers, Migration and Traditions Enforcement could check out the employer, could they not? Mr. Divine. They could. I mean, I believe what we need to realize additionally is that the case that is being mentioned as proof that occasionally these jobs have actually worked with an unauthorized employee is one in which USCIS did some kind of checking and identified that the worker was not accredited and stopped it.


Chairman Leahy. Yet that would be the exact same with any firm. Mr. Divine. Every one of these employers is called for to complete the I-9 type, yet USCIS goes an action additionally get more info and does a check of some kind that caused the case that has been pointed out. Chairman Leahy. I am not a witness here, but I am so struck by Mr.


I suggest, I advise that all of you really-- Mr. North, in your instance, go out from inside the Beltway and rise there and speak with several of these individuals. For one point, you do not have way too many illegal aliens that quite have the Vermont accent you hear around there, particularly when they discuss their grandparents who live there, and moms and dads and so forth.


They will state, "We have obtained concerning nine of us here, and we have been below since 5 o'clock this early morning, Mister." [Laughter.] Chairman Leahy. Not quite what an illegal immigrant may be claiming. Actually, I think Mr. Stenger would state that one of his British financiers was believing, "Are most of us talking the very same language here?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a former company official. What does it do if Congress maintains tasting a last-minute reauthorization? In this instance it would certainly be, I assume, September of following year, September of 2012. What does that do to a company attempting to administer a program if Congress waits up until the last few days to reauthorize it? What is the functional effect? Mr.

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I suggest, the company essentially is-- USCIS is a fee-funded agency, so it is basically sort of running a service and has to cover its costs with the earnings that is generated. To run this program correctly, USCIS requires to staff up in a large method, handling the volume that is already there and anticipating the increased quantity of more investment as we get back at near fifty percent of the 10,000 visas that are offered in this group.

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I indicate, that has actually reached seem like a clashing scenario, and you would visualize that it is going to hold someone back. Currently, I am not saying that they are keeping back, and I know that they are trying to staff up since I make certain they think and wish that the program will be reauthorized for the advantage of the Country.


And is that really where they are going to be able to invest their time and resources in attempting to get rid of up the policies of this program so that everybody recognizes whether they can certify or not and which sort of jobs are mosting likely to qualify etc? We require that continually.


And, Mr. Stenger, we in Vermont-- again, a little State, but we have the State government entailed with the Vermont Regional. Mr. Stenger.