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Yet the regulation claims you have actually reached invest for 2 years which is all. Second, at one of the stakeholders meetings place on by USCIS, I asked a concern: Have you done any type of research study on just how much money stays past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I want to have a second round. Chairman Leahy. Definitely. Let me just ask, Mr. Divine, you hear this criticism that the cash just has actually to continue to be invested for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a hotel, as I was beginning to explain earlier, the developer of that task would certainly need to be able to find someone to acquire the hotel or would need to have the ability to discover somebody to re-finance it with other money.






It is none less complicated always than when it was in the problems that resulted in the international financiers being the most effective option for financing the important things to begin with. Hey, if it is a successful task, it makes money, and it can be sold, I do not see any kind of reason why the project need to not be able to be offered and for the investor to be able to realize the return of his investment, possibly gain on his financial investment, simply like every other financier.

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If you have a task that is funded straight with the Immigrant Capitalist Program and it is believed to be using undocumented workers, Migration and Customs Enforcement could investigate the employer, could they not? Mr. Divine.


Chairman Leahy. That would certainly be the same with any type of company. Mr. Divine. Every one of these companies is needed to finish the I-9 form, however USCIS goes an action even more and does a check of some kind that led to the situation that has actually been discussed. Chairman Leahy. I am not a witness below, but I am so struck by Mr.


I indicate, I recommend that every one of you in fact-- Mr. North, in your case, obtain out from inside the Beltway and rise there and talk with a few of these individuals. For one point, you do not have way too many illegal immigrants who fairly have the Vermont accent you listen to around there, particularly when they speak concerning their grandparents who live there, and parents and so forth.


Mr.


I asked Mr. Stenger this. Mr.


I mean, indicate agency in effect isResult USCIS is a fee-funded agency, so it is essentially kind basically running a business and has to cover its expenses with expenditures income that is generated. To run this program appropriately, USCIS needs to staff up in a large method, dealing with the quantity that is already there and expecting the increased volume of even more investment as we get even close to half of the 10,000 visas that are offered in this group.

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I imply, that has actually got to feel like a clashing scenario, and you would envision that it is mosting likely to hold here someone back. Now, I am not stating that they are keeping back, and I understand that they are attempting to staff up due to the fact that I make sure they believe and hope that the program will 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 clean up the regulations of this program to make sure that everyone recognizes whether they can certify or not and which kinds of projects are going to certify etc? We require that consistently.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- again, a little State, however we have the State federal government included with the Vermont Regional Center. Does that include advantages to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional center manager, and in fact I guess you would call it the owner of the regional center, has been a remarkable advantage.