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The regulation claims you have actually obtained 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 concern: Have you done any kind of study on just how much cash stays past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a second round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this criticism that the cash only needs to stay spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains placed right into a hotel, as I was beginning to discuss earlier, the programmer of that task would need to be able to locate someone to buy the resort or would have to be able to find somebody to refinance it with various other cash.






It is not any kind of easier always than when it was in the conditions that brought about the foreign investors being the very best choice for financing the point to begin with. However, hey, if it is an effective project, it earns money, and it can be offered, I do not see any kind of reason that the project must not be able to be marketed and for the financier to be able to realize the return of his financial investment, maybe get on his investment, much like every other investor.

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If you have a project that is moneyed directly with the Immigrant Capitalist Program and it is thought to be using undocumented employees, Migration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I indicate, I think what we require to recognize also is that the instance that is being mentioned as evidence that sometimes these tasks have actually go to website hired an unapproved worker is one in which USCIS did some sort of monitoring a fantastic read and determined that the employee was not authorized and quit it.


Mr. Divine. Every one of these employers is needed to finish the I-9 form, yet USCIS goes a step better and does a check of some kind that led to the situation that has actually been discussed. I am not a witness below, however I am so struck by Mr.

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


Mr.


I asked Mr. Stenger this. Mr.


I mean, suggest agency in company is-- USCIS is a fee-funded agency, company it is essentially kind basically running a business and service to cover its expenses with the income that earnings generated. To run this program correctly, USCIS requires to staff up in a big method, dealing with the quantity that is already there and preparing for the enhanced quantity of more financial investment as we get also close to like this half of the 10,000 visas that are readily available in this category.

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I imply, that has obtained to really feel like a contrasting situation, and you would picture that it is going to hold somebody back. Currently, I am not stating that they are keeping back, and I recognize that they are attempting to staff up because I make sure they believe and really hope that the program will be reauthorized for the advantage of the Country.


And is that actually where they are mosting likely to be able to invest their time and resources in trying to clear the regulations of this program so that everybody recognizes whether they can certify or not and which kinds of jobs are mosting likely to certify etc? We require that consistently.


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