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The regulation claims you have actually obtained 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 exactly how much cash stays past the 2 years? And the response was no


Legislator Grassley. Thanks, Mr. Chairman. I would such as to have a second round. Chairman Leahy. . Let me simply 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 put right into a hotel, as I was beginning to describe earlier, the developer of that job would have to be able to find someone to buy the resort or would need to have the ability to find somebody to refinance it with other money.






It is none less complicated necessarily than when it was in the conditions that led to the international capitalists being the very best option for financing the thing in the initial area. Hi there, if it is a successful task, it makes money, and it can be offered, I do not see any type of factor why the project must not be able to be marketed and for the financier to be able to recognize the return of his financial investment, maybe obtain on his investment, simply like every various other investor.

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If you have a task that is moneyed straight via the Immigrant Capitalist Program and it is believed to be employing undocumented workers, Immigration and Customs Enforcement could check out the company, could they not? Mr. Divine. They could. I indicate, I assume what we require to understand also is that the situation that is being cited as evidence that in some cases these projects have actually worked with an unapproved worker is one in which USCIS did some kind of monitoring and determined that the worker was not accredited and quit it.


Mr. Divine. Every one of these employers is called for to complete the I-9 kind, yet USCIS goes a step better and does a check of some kind that led to the case that has actually been stated. I am not a witness right here, but 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, get out obtain inside the Beltway and go up there and talk with chat of these people.


They will certainly state, "We have actually obtained regarding nine people here, and we have actually been here since 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not fairly what an illegal immigrant may be saying. I assume Mr. Stenger would certainly say that one of his British capitalists was thinking, "Are we all talking the same language right here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former firm official. What does it do if Congress keeps running up versus a last-minute reauthorization? In this instance it would be, I believe, September of following year, September of 2012. What does that do to a company attempting to administer a program if Congress waits up until the last couple of days to reauthorize it? What is the useful result? Mr.

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I suggest, the agency basically is-- USCIS is a fee-funded agency, so it is basically type of running a service and has to cover its costs with the income that is produced. To run this program correctly, USCIS requires to staff up in a big method, taking care of the quantity EB5 Regional Center Program that is currently there and preparing for the raised quantity of even more financial investment as we get back at near to fifty percent of the 10,000 visas that are offered in this classification.

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I indicate, that has reached really feel like a clashing circumstance, and you would envision that it is going to hold someone back. Now, I am not stating that they are keeping back, and I know that they are attempting to staff up because I make sure they believe and wish that the program will be reauthorized for the benefit of the Nation.


And is that actually where they are going to have the ability to spend their time and resources in trying to clear the regulations of this program so that everybody understands whether they can qualify or not and which kinds of projects are going to qualify etc? We require that continually.


And, Mr. Stenger, we in Vermont-- once again, a tiny State, yet we have the State government included with the Vermont Regional. Mr. Stenger.