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The law claims you have actually obtained to spend 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 question: Have you done any type of research study on just how much cash remains past the 2 years? And the response was no


Legislator Grassley. Thanks, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Definitely. Allow me just ask, Mr. Divine, you hear this criticism that the cash only has to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains placed right into a resort, as I was starting to clarify earlier, the programmer of that job would certainly have to be able to find someone to acquire the resort or would certainly need to be able to find somebody to re-finance it with various other cash.






It is not any much easier necessarily than when it remained in the conditions that led to the international investors being the very best alternative for financing the point to begin with. Hey, if it is an effective project, 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 financier to be able to realize the return of his investment, possibly gain on his financial investment, simply like every other financier.

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If you have a task that is funded straight with the Immigrant Investor Program and it is thought to be employing undocumented employees, Immigration and Traditions Enforcement could explore the employer, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is called for to complete the I-9 type, yet USCIS goes an action further and does a check of some kind that led to the situation that has actually been mentioned. I am not a witness here, however I am so struck by Mr.

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I mean, Suggest recommend that all of you actually-- Mr. North, in your case, situation out obtain inside the Beltway and go up there and talk with some of these people.


Mr.


I asked Mr. Stenger this. Mr.


I mean, the agency in firm isResult USCIS is a fee-funded agency, firm it is essentially kind of running a business and get more info has to cover its expenses with expenditures income that earnings generated. To run this program properly, USCIS requires to staff up in a huge method, dealing with the volume that is already there and preparing for the boosted quantity of more financial investment as we get also close to half of the 10,000 visas that are offered in this category.

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I mean, that has obtained to feel like a conflicting circumstance, and you would certainly envision that it is going to hold somebody back. Currently, I am not claiming that they are holding back, and I understand that they are attempting to staff up due to the fact that I make sure they believe and really hope that the program will certainly be reauthorized for the advantage of the Nation.


And is that really where they are mosting likely to be able to invest their time and resources in trying to clear the rules of this program to make sure that everybody recognizes whether they can certify or not and which kinds of jobs are mosting likely to qualify and so forth? We require that consistently.


And, Mr. Stenger, we in Vermont-- again, a small State, yet we have the State federal government entailed with the Vermont Regional. Mr. Stenger.