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The law says you have obtained to spend for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked an inquiry: Have you done any kind of study on how much money stays beyond the 2 years? And the answer was no


Senator Grassley. Thanks, Mr. Chairman. I would certainly such as to have a 2nd round. Chairman Leahy. . Allow me just ask, Mr. Divine, you hear this objection that the cash just needs to stay invested for 2 years. Has that been your experience? Mr. Divine. If money obtains taken into a hotel, as I was beginning to explain earlier, the programmer of that project would certainly need to be able to find somebody to acquire the hotel or would certainly have to be able to find someone to re-finance it with various other cash.






It is not any type of simpler always than when it remained in the problems that resulted in the foreign investors being the finest option for funding things in the first area. Yet, hey, if it is an effective task, it generates income, and it can be marketed, I do not see any type of reason the task must not have the ability to be sold and for the financier to be able to recognize the return of his financial investment, possibly gain on his investment, similar to every various other capitalist.

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If you have a project that is funded straight via the Immigrant Investor Program and it is believed to be using undocumented workers, Migration and Traditions Enforcement could explore the company, could they not? Mr. Divine. They could. I indicate, I think what we require to understand likewise is that the instance that is being pointed out as proof that often these tasks have actually hired an unapproved employee is one in which USCIS did some sort of monitoring and determined that the worker was not authorized and stopped it.


Mr. Divine. Every one of these companies is required to finish 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 actually been stated. I am not a witness right here, yet I am so struck by Mr.

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I mean, Suggest recommend that suggest read more of you actually-- In fact 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, suggest agency in effect isResult USCIS is a fee-funded agency, company it is essentially kind of running a business and company to cover its expenses with the 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 enhanced quantity of even more investment as we get even close to fifty percent of the 10,000 visas that are offered in this category.

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I suggest, that has reached seem like a clashing circumstance, and you would picture that it is mosting likely to hold someone back. Currently, I am not claiming that they are keeping back, and I recognize that they are trying to staff up due to the fact that I am certain they think and wish that the program will certainly be reauthorized for the advantage of the Country.


And is that really where they are going to be able to spend their time and resources in trying to clean up the guidelines of this program so that everybody understands whether they can qualify or otherwise and which sort of jobs are going to qualify etc? We need that constantly.


And, Mr. Stenger, we in Vermont-- once more, a small State, however we have the State government involved with the Vermont Regional. Does that add advantages to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional facility manager, and in fact I think you would call it the proprietor of the local center, has actually been a remarkable advantage.