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The legislation states you have actually got to spend for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked an inquiry: Have you done any type of study on how much cash stays beyond the 2 years? And the answer was no


Legislator Grassley. Thank you, Mr. Chairman. I want to have a second round. Chairman Leahy. Certainly. Let me simply ask, Mr. Divine, you hear this objection that the cash only has to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If money gets put into a hotel, as I was beginning to discuss earlier, the developer of that job would certainly need to be able to discover someone to buy the resort or would certainly need to have the ability to find someone to refinance it with various other money.

It is none easier necessarily than when it was in the conditions that caused the foreign investors being the best alternative for financing the thing to begin with. Hey, if it is a successful task, it makes cash, 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 recognize the return of his financial investment, maybe gain on his financial investment, just like every other capitalist.

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If you have a task that is funded directly with the Immigrant Capitalist Program and it is thought to be employing undocumented workers, Migration and Traditions Enforcement could explore the company, could they not? Mr. Divine.


Chairman Leahy. Yet that would coincide with any kind of firm. Mr. Divine. Every one of these companies is required to complete 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 mentioned. Chairman Leahy. I am not a witness right here, however I am so struck by Mr.


I indicate, I suggest that all of you really-- Mr. North, in your instance, venture out from inside the Beltway and rise there and chat with some of these people. For something, you do not have way too many illegal aliens that rather have the Vermont accent you listen to around there, especially when they speak about their grandparents that live there, and parents and more.

They will certainly say, "We have obtained concerning nine of us below, and we have been here given that 5 o'clock this morning, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal immigrant could be stating. I believe Mr. Stenger would state that one of his British capitalists was thinking, "Are we all speaking the very same language here?" Mr.


I asked website Mr. Stenger this. Allow me ask you what your experience is as a former firm official. What does it do if Congress keeps tasting a final reauthorization? In this case it would certainly be, I think, September of following year, September of 2012. What does that do to a company attempting to carry out a program if Congress waits till the last few days to reauthorize it? What is the practical effect? Mr.

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I imply, the agency essentially is-- USCIS is a fee-funded agency, so it is essentially kind of running a service and has to cover its costs with the earnings that is generated. To run this program appropriately, USCIS requires to staff up in a big way, handling the quantity that is currently there and preparing for the boosted volume of more financial investment as we get also near fifty percent of the 10,000 visas that are offered in this classification.

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I indicate, that has got to feel like a conflicting circumstance, and you would certainly picture that it is going to hold somebody back. Now, I am not saying that they are keeping back, and I understand that they are trying to staff up since I am sure they believe and wish that the program will certainly be reauthorized for the benefit of the Country.


And is that actually where they are mosting likely to have the ability to invest their time and resources in attempting to clean up the policies of this program to ensure that everyone knows whether they can qualify or otherwise and which kinds of jobs are going to qualify etc? We need that continuously.


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