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The law claims you have actually got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked a concern: Have you done any type of research study on just how much cash stays past the 2 years? And the response was no


Legislator Grassley. Thank you, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. Definitely. Let me simply ask, Mr. Divine, you hear this criticism that the cash only has to stay spent for 2 years. Has that been your experience? Mr. Divine. If cash gets taken into a hotel, as I was beginning to explain earlier, the developer of that project would certainly need to have the ability to find somebody to get the hotel or would have to have the ability to discover someone to refinance it with other cash.






It is not any easier necessarily than when it remained in the conditions that caused the international financiers being the most effective choice for financing the important things to begin with. Hi there, if it is a successful job, it makes cash, and it can be sold, I do not see any kind of factor why the project ought to not be able to be sold and for the capitalist to be able to recognize the return of his financial investment, maybe acquire on his financial investment, simply like every other investor.

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If you have a task that is moneyed directly with the Immigrant Financier Program and it is believed to be employing undocumented employees, Immigration and Traditions Enforcement could explore the company, could they not? Mr. Divine. They could. I suggest, I assume what we need to understand also is that the instance that is being pointed out as evidence that in some cases these tasks have actually worked with an unauthorized employee is one in which USCIS did some kind of checking and determined that the employee was not accredited and quit it.


Mr. Divine. Every one of these employers is needed to finish the I-9 kind, but USCIS goes a step even more and does a check of some kind that led to the instance that has been stated. I am not a witness below, however I am so struck by Mr.

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I mean, Suggest 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 some of these people.


They will certainly say, "We have actually obtained regarding nine of us here, and we have been here given that 5 o'clock this morning, Mister." [Laughter.] Chairman Leahy. Not quite what an illegal alien could be stating. I think Mr. Stenger would claim that one of his British financiers was assuming, "Are we all speaking the very same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a previous agency authorities. What EB5 Regional Center Program does it do if Congress keeps meeting a final reauthorization? In this situation it would certainly be, I think, September of next year, September of 2012. What does that do to an agency attempting to carry out a program if Congress waits up until the last couple of days to reauthorize it? What is the useful impact? Mr.

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I indicate, the firm effectively is-- USCIS is a fee-funded company, so it is basically sort of running a business and has to cover its costs with the earnings that is created. To run this program appropriately, USCIS requires to staff up in a large way, handling the volume that is already there and expecting the boosted quantity of even more financial investment as we get back at near fifty percent of the 10,000 visas that are readily available in this group.

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I imply, that has reached really feel like a conflicting circumstance, and you would certainly picture that it is mosting likely to hold someone back. Currently, I am not saying that they are holding back, and I understand that they are attempting to staff up because I am sure they think and wish that the program will certainly be reauthorized for the benefit of the Nation.


And is that truly where they are going to be able to invest their time and sources in attempting to clean up the policies of this program to make sure that everyone knows whether they can qualify or not and which type of tasks are mosting likely to certify etc? We require that continually.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once again, a little State, however we have the State federal government included with the Vermont Regional Facility. Does that add benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the local facility manager, and in fact I guess you would call it the proprietor of the local facility, has actually been a tremendous benefit.