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The regulation says you have obtained to spend for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences put on by USCIS, I asked an inquiry: Have you done any type of study on just how much cash stays past the 2 years? And the answer was no


Thank you, Mr. Chairman. Allow 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 type of less complicated always than when it was in the problems that led to the international capitalists being the ideal alternative for funding the important things to begin with. Yet, hi there, if it is an effective project, it earns money, and it can be sold, I do not see any factor why the job ought to not have the ability to be offered and for the investor to be able to understand the return of his financial investment, maybe obtain on his financial investment, much like every various other financier.

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If you have a task that is moneyed directly through the Immigrant Capitalist Program and it is believed to be employing undocumented employees, Migration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I indicate, I believe what we need to understand additionally is that the situation that is being cited as proof that sometimes these tasks have hired an unapproved worker is one in which USCIS did some sort of checking and identified that the worker was not accredited and stopped it.


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

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


They will certainly state, "We have obtained regarding nine people right here, and we have been here because 5 o'clock today, Mister." [Laughter.] Chairman Leahy. Not fairly what an illegal alien could be stating. I think Mr. Stenger would certainly state that one of his more info British investors was believing, "Are we all talking the exact same language 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 maintains tasting a last-minute reauthorization? In this situation it would certainly 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 up until the last few days to reauthorize it? What is the functional effect? Mr.

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I indicate, the agency effectively is-- USCIS is a fee-funded agency, so it is basically type of running a company and has to cover its expenses with the earnings that is generated. To run this program appropriately, USCIS requires to staff up in a huge way, taking care of the volume that is currently there and preparing for the enhanced quantity of even more 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 indicate, that has actually got to seem like a conflicting scenario, and you would certainly think of that it is going to hold somebody back. Currently, I am not saying that they are holding back, and I recognize that they are trying to staff up due to the fact that I make certain they believe and wish that the program will be reauthorized for the benefit of the Country.


And is that really where they are mosting likely to have the ability to spend their time and sources in trying to clean up the policies of this program so that everybody recognizes whether they can qualify or otherwise and which kinds of jobs are going to certify and so forth? We require that constantly.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once more, a little State, but we have the State federal government included with the Vermont Regional Center. Does that include advantages to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the local center administrator, and in fact I guess you would call it the owner of the regional facility, has been a tremendous benefit.