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The regulation says you have actually 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 a question: Have you done any type of research on just how much money stays past the 2 years? And the response was no


Senator Grassley. Thank you, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Certainly. Allow me just ask, Mr. Divine, you hear this objection that the cash just has actually to stay invested for 2 years. Has that been your experience? Mr. Divine. If money gets placed right into a resort, as I was starting to describe earlier, the designer of that job would need to have the ability to discover someone to purchase the hotel or would need to have the ability to discover somebody to refinance it with various other cash.






It is not any kind of easier always than when it was in the problems that resulted in the international investors being the very best choice for funding the thing to begin with. Hi, if it is a successful job, it makes money, and it can be offered, I do not see any kind of reason why the job need to not be able to be sold and for the financier 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 moneyed directly with the Immigrant Capitalist Program and it is believed to be utilizing undocumented workers, Migration and Traditions Enforcement could explore the company, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is needed to complete the I-9 kind, however USCIS goes a step better and does a check of some kind that led to the situation that has actually been mentioned. I am not a witness right here, yet I am so struck by Mr.

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I mean, Indicate recommend that advise of you actually-- Mr. North, in your case, instance out obtain inside the Beltway and go up there and talk with chat of these people.


They will certainly say, "We have got about 9 of us below, and we have been right here because 5 o'clock this early morning, Mister." [Laughter.] Chairman Leahy. Not fairly what an unlawful immigrant may be stating. In reality, I believe Mr. Stenger would certainly say that of his British financiers was assuming, "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 meeting a last-minute reauthorization? In this instance it would be, I believe, September of next year, September of 2012. What does that do to a firm trying to carry out a program if Congress waits until the last couple of days to reauthorize it? What is the useful result? Mr.

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I mean, the company essentially is-- USCIS is a fee-funded company, so it is basically sort of running a business and has to cover its expenses with the income that is created. To run more info this program appropriately, USCIS requires to staff up in a large way, handling the volume that is already there and expecting the boosted quantity of more investment as we get even close to half of the 10,000 visas that are available in this category.

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I imply, that has reached really feel like a contrasting scenario, and you would certainly picture that it is going to hold someone back. Currently, I am not claiming that they are keeping back, and I know that they are trying to staff up since I make sure they think and wish that the program will certainly be reauthorized for the benefit of the Nation.


And is that really where they are going to have the ability to spend their time and sources in attempting to improve the regulations of this program so that everybody knows whether they can qualify or not and which type of jobs are mosting likely to certify etc? We require that continually.


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