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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 conferences place on by USCIS, I asked a concern: Have you done any type of study on just how much money remains past the 2 years? And the solution was no


Thank you, Mr. Chairman. Let me simply ask, Mr. Divine, you hear this criticism that the cash only has actually to continue to be invested for 2 years. Mr. Divine.

It is not any kind of much easier always than when it was in the conditions that brought about the international financiers being the best choice for financing things in the very first place. Yet, hey, if it is an effective project, it makes cash, and it can be marketed, I do not see any type of reason the project must not be able to be sold and for the investor to be able to recognize the return of his investment, possibly get on his financial investment, much like every various other investor.

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If you have a project that is funded directly through the Immigrant Financier Program and it is believed to be utilizing undocumented employees, Immigration and Customs Enforcement could check out the company, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is required to complete the I-9 type, however USCIS goes an action additionally and does a check of some kind that led to the case that has been pointed out. I am not a witness right here, yet I am so struck by Mr.

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I mean, I recommend that suggest of you actually-- Really North, in your case, get out from inside the Beltway and go up there and talk with chat of these people.

They will certainly say, "We have actually got about 9 of us below, and we have actually been below since 5 o'clock this morning, Mister." [Giggling.] Chairman Leahy. Not rather what a prohibited immigrant could be stating. In truth, I assume Mr. Stenger would state that a person of his British investors was thinking, "Are all of us talking the same language here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former agency authorities. What does it do if Congress keeps tasting a final reauthorization? In this case it would certainly be, I believe, September of following year, September of 2012. What does that do to an agency attempting to provide a program if Congress waits till the last couple of days to reauthorize it? What is the sensible effect? Mr.

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I indicate, the firm essentially is-- USCIS is a fee-funded agency, so it is basically kind of running an organization and needs to cover its costs with the revenue that is generated. To run this program properly, USCIS requires to staff up in a large means, handling the quantity that is currently there and preparing for the raised quantity of even more financial investment as we get back at close to half of the 10,000 visas that are available in this group.

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I mean, that has obtained to really feel like a conflicting scenario, and you would certainly visualize that it is mosting likely to hold someone back. Now, I am not stating that they are holding back, and I know that they are trying to staff up because I am certain they believe and really hope that the program will be reauthorized for the benefit of the Country.


And is more info that actually where they are mosting likely to have the ability to invest their time and resources in attempting to improve the regulations of this program to make sure that everyone recognizes whether they can qualify or otherwise and which sort of jobs are mosting likely to certify and so forth? We need that continually.


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