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The legislation states you have 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 a concern: Have you done any type of research on just how much money stays past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I would certainly such as to have a 2nd round. Chairman Leahy. Definitely. Allow me simply ask, Mr. Divine, you hear this criticism that the cash just needs 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 discuss earlier, the developer of that project would certainly need to be able to find somebody to acquire the resort or would have to be able to discover somebody to re-finance it with various other money.






It is none much easier necessarily than when it was in the problems that resulted in the international financiers being the best option for financing the thing in the initial place. Hey, if it is an effective task, it makes money, and it can be offered, I do not see any reason why the task ought to not be able to be offered and for the capitalist to be able to realize the return of his financial investment, possibly acquire on his financial investment, just like every other capitalist.

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If you have a project that is moneyed straight through the Immigrant Financier Program and it is believed to be using undocumented employees, Immigration and Traditions Enforcement could examine the employer, could they not? Mr. Divine. They could. I suggest, I assume what we need to understand likewise is that the instance that is being mentioned as evidence that sometimes these tasks have worked with an unauthorized employee is one in which USCIS did some type of checking and established that the worker was not accredited and stopped it.


Mr. Divine. Every one of these employers is needed to finish the I-9 kind, but USCIS goes a step additionally 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, Indicate recommend that advise of you actually-- In fact North, in your case, instance out obtain inside the Beltway and go up there and talk with chat of these people.


Mr.


I asked Mr. Stenger this. Mr.


I mean, the agency in firm is-- USCIS is a fee-funded agency, firm it is essentially kind of running a business and company to cover its expenses with expenditures income that earnings generated. To run this program appropriately, USCIS needs to staff up in a huge way, dealing with the volume that is currently there and expecting the increased volume of even more investment as we get also close to fifty percent of the 10,000 visas that are available in this group.

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I suggest, that has actually got to seem like a conflicting situation, and you would visualize that it is mosting likely to hold somebody back. Now, I am not saying that they are holding back, and I know that they are trying to staff up since I make certain they think and wish that the program will certainly be reauthorized for the advantage of the Country.


And is that actually where they are going to be able to spend their time and sources in trying to remove up the guidelines of this program to ensure that everyone understands whether they can qualify or not and which kinds of tasks are mosting likely to certify etc? We require that consistently.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- again, a tiny State, yet we have the State federal government involved with the Vermont Regional Center. Does that add advantages to Vermont's program? Mr. Stenger. The reality that the State of Vermont is the local center administrator, and in fact I presume you would certainly call it click here the owner of the regional center, has actually been a tremendous advantage.