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The legislation says you have 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 an inquiry: Have you done any kind of study on just how much cash remains past the 2 years? And the response was no


Senator Grassley. Thank you, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Absolutely. Allow me simply ask, Mr. Divine, you hear this criticism that the cash only has actually to continue to be spent for 2 years. Has that been your experience? Mr. Divine. If money obtains placed right into a hotel, as I was beginning to explain earlier, the programmer of that job would certainly have to be able to locate someone to purchase the resort or would certainly need to have the ability to locate somebody to re-finance it with various other money.






It is not any type of much easier necessarily than when it remained in the conditions that resulted in the international financiers being the very best alternative for financing things in the very first place. Hey, if it is a successful task, it makes money, and it can be sold, I do not see any factor why the project must not be able to be marketed and for the investor to be able to understand the return of his investment, perhaps get on his financial investment, just like every various other capitalist.

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


Chairman Leahy. Yet that would coincide with any kind of business. Mr. Divine. Every one of these employers is required to finish the I-9 kind, yet USCIS goes an action additionally and does a check of some kind that caused the instance that has been mentioned. Chairman Leahy. I am not a witness right here, however I am so struck by Mr.


I imply, I suggest that every one of you actually-- Mr. North, in your instance, go out from inside the Beltway and go up there and talk with several of these individuals. For one point, you do not have as well many illegal aliens that quite have the Vermont accent you listen to around there, specifically when they chat about their grandparents that live there, and parents and more.


Mr.


I asked Mr. Stenger this. Mr.


I mean, the agency in effect isResult USCIS is a fee-funded agency, so it is essentially kind basically running a business and has to cover its expenses with costs income that is generated. To run this program correctly, USCIS requires to staff up in a large method, dealing with the volume that is currently there and expecting the enhanced volume of more financial investment as we obtain even close to read more half of the 10,000 visas that are offered in this category.

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I suggest, that has actually got to seem like a conflicting situation, and you would picture that it is going to hold somebody back. Currently, I am not saying that they are keeping back, and I know that they are trying to staff up since I make certain they believe and hope that the program will certainly be reauthorized for the advantage of the Nation.


And is that truly where they are mosting likely to be able to spend their time and sources in trying to clear the rules of this program so that everybody understands whether they can qualify or otherwise and which sort of tasks are going to certify and so forth? We need that constantly.


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