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The law says you have 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 a question: Have you done any study on how much money stays beyond the 2 years? And the answer was no

Legislator Grassley. Thank you, Mr. Chairman. I wish to have a 2nd round. Chairman Leahy. . Allow me simply ask, Mr. Divine, you hear this criticism that the cash just needs to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a resort, as I was starting to describe earlier, the designer of that job would have to be able to find someone to get the hotel or would have to be able to find somebody to re-finance it with other money.




It is none less complicated always than when it remained in the problems that caused the foreign financiers being the most effective alternative for financing things to begin with. But, hi, if it is an effective project, it earns money, and it can be sold, I do not see any kind of reason why the task ought to not have the ability to be sold and for the capitalist to be able to recognize the return of his financial investment, perhaps obtain on his financial investment, similar to every various other investor.

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If you have a task that is funded directly via the Immigrant Financier Program and it is believed to be using undocumented employees, Immigration and Traditions Enforcement could check out the company, could they not? Mr. Divine. They could. I indicate, I believe what we require to recognize also is that the instance that is being pointed out as evidence that in some cases these tasks have hired an unauthorized employee is one in which USCIS did some type of checking and established that the worker was not authorized and quit it.

Mr. Divine. Every one of these employers is called for to finish the I-9 form, however USCIS goes an action even more and does a check of some kind that led to the instance that has actually been discussed. I am not a witness here, however I am so struck by Mr.

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

They will claim, "We have actually got concerning nine people here, and we have actually been here since 5 o'clock today, Mister." [Laughter.] Chairman Leahy. Not rather what an illegal alien could be saying. I believe Mr. Stenger would state that one of his British capitalists was believing, "Are we all talking the exact Click This Link same language below?" Mr.

I asked Mr. Stenger this. Let me ask you what your experience is as a previous company authorities. What does it do if Congress keeps meeting a last-minute reauthorization? In this situation it would certainly be, I think, September of following year, September of 2012. What does that do to a company attempting to administer a program if Congress waits until the last couple of days to reauthorize it? What is the functional result? Mr.

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I mean, the agency effectively is-- USCIS is a fee-funded company, so it is basically kind of running a service and has to cover its costs with the revenue more information that is generated. To run this program properly, USCIS requires to staff up in a huge means, managing the quantity that is currently there and expecting the enhanced quantity of even more investment as we get back at near half of the 10,000 visas that are available in this classification.

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I mean, that has got to feel like a conflicting situation, and you would certainly envision that it is going to hold someone back. Now, I am not saying that they are holding back, and I recognize that they are attempting to staff up due to the fact that I make sure they think and hope that the program will be reauthorized for the advantage of the Nation.

And is that truly where they are mosting likely to be able to invest their time and resources in attempting to clear the regulations of this program so that everyone understands whether they can qualify or otherwise and which sort of tasks are mosting likely to certify etc? We need that constantly.

And, Mr. Stenger, we in Vermont-- once more, a tiny State, yet Related Site we have the State government included with the Vermont Regional. Does that add benefits to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the regional center manager, and actually I think you would certainly call it the proprietor of the local center, has been a tremendous advantage.

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