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The regulation states 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 type of research on how much cash stays past the 2 years? And the answer was no


Senator Grassley. Thank you, Mr. Chairman. I would such as to have a 2nd round. Chairman Leahy. . Allow me just ask, Mr. Divine, you hear this criticism that the money just needs to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If money obtains placed into a hotel, as I was starting to clarify earlier, the developer of that job would certainly need to have the ability to discover somebody to get the resort or would certainly need to be able to locate somebody to refinance it with other money.






It is none simpler necessarily than when it was in the problems that brought about the foreign capitalists being the best alternative for financing the important things to begin with. Hello, if it is a successful task, it makes money, and it can be sold, I do not see any reason why the project should not be able to be offered and for the investor to be able to realize the return of his financial investment, perhaps get on his financial investment, simply like every other investor.

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If you have a project that is funded straight with the Immigrant Investor Program and it is thought to be utilizing undocumented workers, Migration and Customs Enforcement could investigate the employer, could they not? Mr. Divine. They could. I suggest, I believe what we need to recognize likewise is that the instance linked here that is being pointed out as proof that often these projects have actually employed an unapproved employee is one in which USCIS did some kind of checking and established that the employee was not licensed and quit it.


Chairman Leahy. That would certainly be the exact same with any company. Mr. Divine. Every one of these companies is needed to finish the I-9 form, but USCIS goes a step additionally and does a check of some kind that caused the situation that has been pointed out. Chairman Leahy. I am not a witness below, however I am so struck by Mr.


I mean, I recommend that every one of you really-- Mr. North, in your case, go out from inside the Beltway and rise there and speak with several of these people. For one point, you do not have also several illegal aliens who rather have the Vermont accent you hear around there, particularly when they speak about their grandparents that live there, and moms and dads and so on.


Mr.


I asked Mr. Stenger this. Mr.


I mean, indicate agency in company click to read more is-- USCIS is a fee-funded agency, company it is essentially kind of running a business and organization to cover its expenses with costs income that is generated. To run this program appropriately, USCIS needs to staff up in a large means, dealing with the quantity that is already there and preparing for the raised volume of more investment as we obtain also close to half of the 10,000 visas that are offered in this category.

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I mean, that has actually obtained to feel like a contrasting scenario, and you would certainly envision that it is going to hold someone back. Currently, I am not stating that they are holding back, and I know that they are attempting to staff up because I make sure they believe and really hope that the program will be reauthorized for the advantage of the Country.


And is that truly where they are going to be able to spend their time and sources in trying to clear the guidelines of this program so that everyone recognizes whether they can certify or otherwise and which type of jobs are going to certify and so forth? We require get more that continuously.


And, Mr. Stenger, we in Vermont-- once more, a small State, however we have the State federal government included with the Vermont Regional. Mr. Stenger.