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The law says you have got to invest 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 kind of research on just how much money stays beyond the 2 years? And the answer was no


Legislator Grassley. Thanks, Mr. Chairman. I want to have a second round. Chairman Leahy. Certainly. Let me just ask, Mr. Divine, you hear this criticism that the cash only needs to continue to be spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains placed into a resort, as I was starting to explain earlier, the developer of that task would certainly need to be able to discover somebody to purchase the hotel or would certainly have to be able to find someone to re-finance it with various other money.






It is none much easier always than when it was in the conditions that caused the foreign capitalists being the most effective choice for financing the important things in the very first place. However, hello, if it is an effective job, it generates income, and it can be offered, I do not see any reason the project need to not be able to be marketed and for the financier to be able to realize the return of his investment, possibly acquire on his financial investment, just like every various other capitalist.

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If you have a job that is funded directly through the Immigrant Financier Program and it is believed to be utilizing undocumented workers, Migration and Customs Enforcement could examine the company, could they not? Mr. Divine. They could. I suggest, I think what we require to understand likewise is that the case that is being pointed out as evidence that sometimes these projects have actually employed an unauthorized employee is one in which USCIS did some kind of checking and established that the worker was not authorized and quit it.


Chairman Leahy. Yet that would coincide with any business. Mr. Divine. Every one of these companies is required to finish the I-9 form, however USCIS goes an action even more and does a check of some kind that resulted in the instance that has been stated. Chairman Leahy. I am not a witness here, yet I am so struck by Mr.


I mean, I suggest that every one of you really-- Mr. North, in your situation, go out from inside the Beltway and rise there and speak with several of these people. For something, you do not have a lot of unlawful immigrants that quite have the Vermont accent you hear around there, specifically when they talk regarding their grandparents who live there, and parents and more.


They will claim, "We have obtained regarding nine people here, and we have actually been right here because 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal alien could be saying. I think Mr. Stenger would certainly say that one of his British financiers was assuming, "Are we all speaking the very 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 an agency attempting to carry out a program if Congress waits until the last EB5 Regional Center Program few days to reauthorize it? What is the functional effect? Mr.

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I suggest, the agency in impact is-- USCIS is a fee-funded company, so it is basically type of running a service and needs to cover its expenditures with the revenue that is generated. To run this program correctly, USCIS needs to staff up in a big means, dealing with the volume that is already there and anticipating the increased quantity of even more investment as we get even close to half of the 10,000 visas that are available in this group.

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I mean, that has reached seem like a contrasting scenario, and you would certainly envision that it is mosting likely to hold somebody back. Now, I am not stating that they are holding back, and I know that they are trying to staff up since I am certain they think and wish that the program will certainly be reauthorized for the advantage of the Country.


And is that actually where they are mosting likely to have the ability to spend their time and sources in attempting to clear the guidelines of this program to make sure that everyone recognizes whether they can certify or otherwise and which sort of tasks are mosting likely to certify and so forth? We require that consistently.


And, Mr. Stenger, we in Vermont-- again, a small State, however we have the State government involved with the Vermont Regional. Mr. Stenger.