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The law says you have actually got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings put on by USCIS, I asked an inquiry: Have you done any type of study on just how much cash remains past the 2 years? And the response was no


Senator Grassley. Thank you, Mr. Chairman. I would love to have a second round. Chairman Leahy. . Allow me simply ask, Mr. Divine, you hear this objection that the cash just needs to remain invested for 2 years. Has that been your experience? Mr. Divine. If money obtains placed into a resort, as I was starting to discuss earlier, the designer of that project would have to be able to discover somebody to acquire the resort or would have to have the ability to find somebody to refinance it with other money.






It is none less complicated necessarily than when it was in the problems that resulted in the international financiers being the very best alternative for financing things in the very first area. Hey, if it is an effective task, it makes money, and it can be offered, I do not see any factor why the job should not be able to be sold and for the financier to be able to realize the return of his investment, possibly gain on his financial investment, just like every other investor.

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If you have a project that is moneyed directly through the Immigrant Capitalist Program and it is believed to be using undocumented workers, Migration and Traditions Enforcement could examine the company, could they not? Mr. Divine.


Chairman Leahy. That would certainly be the same with any type of business. Mr. Divine. Every one of these employers is called for to complete the I-9 type, however USCIS goes a step better and does a check of some kind that caused the case that has actually been mentioned. Chairman Leahy. I am not a witness right here, but I am so struck by Mr.


I indicate, I suggest that all of you actually-- Mr. North, in your situation, venture out from inside the Beltway and go up there and speak with some of these individuals. For one point, you do not have a lot of prohibited immigrants who rather have the Vermont accent you listen to around there, especially when they speak concerning their grandparents who live there, and moms and dads and so on.


They will certainly say, "We have actually got regarding nine people right here, and we have actually been below considering that 5 o'clock this morning, Mister." [Laughter.] Chairman Leahy. Not quite what an unlawful immigrant may be stating. I believe Mr. Stenger would certainly state that one of his British investors was believing, "Are we all talking the very same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a previous firm authorities. What does it do if Congress maintains running up against a last-minute reauthorization? In this case it would certainly be, I assume, September of next year, September of 2012. What does that do to a company trying to provide a program if Congress waits till the last couple of days to reauthorize it? More Bonuses What is the functional effect? Mr.

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I mean, the agency essentially is-- USCIS is a fee-funded firm, so it is essentially kind of running a business and has to cover its expenditures with the earnings that is created. To run this program properly, USCIS needs to staff up in a big means, handling the volume that is already there and expecting the raised volume of even more financial investment as we get also near fifty percent of the 10,000 visas that are offered in this group.

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I mean, that click to read has actually got to seem like a conflicting scenario, and you would think of that it is mosting likely to hold somebody back. Now, I am not claiming that they are keeping back, and I understand that they are attempting to staff up since I make certain they believe and really hope that the program will certainly be reauthorized for the advantage of the Country.


And is that actually where they are mosting likely to have the ability to invest their time and sources in trying to remove up the policies of this program to ensure that everyone recognizes whether check out this site they can certify or otherwise and which sort of tasks are mosting likely to qualify etc? We need that constantly.


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