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The law says you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders conferences place on by USCIS, I asked an inquiry: Have you done any kind of study on how much money remains past the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I would certainly such as to have a 2nd round. Chairman Leahy. . Allow me just ask, Mr. Divine, you hear this criticism that the cash just needs to stay invested for 2 years. Has that been your experience? Mr. Divine. If money gets placed right into a hotel, as I was starting to explain earlier, the developer of that task would certainly need to have the ability to find someone to acquire the resort or would need to have the ability to discover somebody to refinance it with various other cash.






It is none simpler necessarily than when it was in the problems that resulted in the international financiers being the very best option for financing the point in the very first place. Hello, if it is a successful job, it makes cash, and it can be sold, I do not see any type of factor why the task must not be able to be marketed and for the investor to be able to recognize the return of his financial investment, maybe get on his financial investment, simply like every other investor.

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If you have a task that is moneyed directly through the Immigrant Capitalist Program and it is thought to be using undocumented employees, Immigration and Traditions Enforcement EB5 Regional Center Program could check out the employer, could they not? Mr. Divine. They could. I mean, I think what we require to recognize also is that the instance that is being mentioned as evidence that sometimes these tasks have employed an unauthorized employee is one in which USCIS did some kind of monitoring and determined that the employee was not licensed and stopped it.


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

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I mean, Imply recommend that all 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, the agency in firm isImpact USCIS is a fee-funded agency, so 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 requires to staff up in a big means, dealing with the volume that is currently there and expecting the increased volume of even more investment as we obtain also close to half of the 10,000 visas that are readily available in this classification.

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I suggest, that has actually got to feel like a contrasting situation, and you would envision that it is mosting likely to hold somebody back. Currently, I am not claiming that they are holding back, and I know that they are trying to staff up since I make sure they think and wish that the program will certainly be reauthorized for the benefit of the Nation.


And is that really where they are going to be able to invest their time and resources in attempting to improve the guidelines of this program to make sure that everyone recognizes whether they can certify or otherwise and which kinds of tasks are mosting likely to certify etc? We require that consistently.


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