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The law claims you have obtained to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings put on by USCIS, I asked a concern: Have you done any kind of research on exactly how much money stays beyond the 2 years? And the solution was no


Senator Grassley. Thank you, Mr. Chairman. I would love to have a 2nd round. Chairman Leahy. Absolutely. Let me just ask, Mr. Divine, you hear this objection that the money only needs to remain spent for 2 years. Has that been your experience? Mr. Divine. If cash gets put right into a hotel, as I was starting to explain earlier, the programmer of that job would have to have the ability to find somebody to purchase the resort or would have to be able to locate somebody to refinance it with other cash.






It is none easier always than when it was in the problems that led to the foreign investors being the most effective choice for financing the thing in the first area. But, hello, if it is an effective task, it makes cash, and it can be marketed, I do not see any reason why the task should not have the ability to be sold and for the capitalist to be able to realize the return of his financial investment, maybe get on his investment, simply like every various other financier.

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If you have a task that is moneyed directly via the Immigrant Investor Program and it is believed to be employing undocumented workers, Migration and Traditions Enforcement could explore the employer, could they not? Mr. Divine.


Chairman Leahy. But that would coincide with any type of company. Mr. Divine. Each of these companies is required to finish the I-9 type, however USCIS goes an action further and does a check of some kind that led to the case that has been pointed out. Chairman Leahy. I am not a witness here, however I am so struck by Mr.


I suggest, I recommend that every one of you in fact-- Mr. North, in your case, obtain out from inside the Beltway and rise there and chat with a few of these individuals. For one point, you do not have also several illegal aliens who quite have the Vermont accent you listen to around there, specifically when they speak about their grandparents that live there, and moms and dads and so forth.


Mr.


I asked Mr. Stenger this. Mr.


I mean, suggest agency in effect is-- USCIS is a fee-funded agency, company it is essentially kind of running a business and organization to cover its expenses with the income that revenue generated. To run this program properly, USCIS needs to staff up in a more info huge way, dealing with the quantity that is currently there and expecting the increased quantity of more investment as we obtain even close to half of the 10,000 visas that are offered in this classification.

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I indicate, that has actually reached seem like a contrasting circumstance, and you would certainly envision that it is mosting likely to hold somebody back. Now, I am not claiming that they are keeping back, and I know that they are attempting to staff up because I make sure they believe and really hope that the program will certainly be reauthorized for the advantage of the Country.


And is that actually where they are going to be able to spend their time and sources in trying to clean up the regulations of this program to make sure that everyone recognizes whether they can qualify or otherwise and which sort of tasks are mosting likely to certify and so forth? We need that constantly.


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