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


Legislator Grassley. Thank you, Mr. Chairman. I wish to have a second round. Chairman Leahy. Definitely. Allow me just ask, Mr. Divine, you hear this criticism that the cash only needs to remain 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 programmer of that project would certainly need to be able to find somebody to buy the resort or would have to be able to locate someone to refinance it with various other cash.






It is not any less complicated necessarily than when it was in the conditions that resulted in the international investors being the very best choice for funding things in the first location. Hey, if it is an effective project, it makes money, and it can be offered, I do not see any kind of reason why the task should not be able to be marketed and for the financier to be able to realize the return of his financial investment, possibly obtain on his financial investment, simply like every other financier.

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If you have a task that is funded straight through the Immigrant Investor Program and it is believed to be utilizing undocumented employees, Migration and Traditions Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. That would be the very same with any company. Mr. Divine. Each of these employers is needed to finish the I-9 kind, yet USCIS goes an action better and does a check of some kind that caused the situation that has actually been mentioned. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I mean, I suggest that all of you actually-- Mr. North, in your case, go out from inside the Beltway and rise there and chat with a few of these people. For something, you do not have a lot of illegal immigrants that fairly have the Vermont accent you hear around there, particularly when they speak about their grandparents who live there, and parents and more.


Mr.


I asked Mr. Stenger this. Mr.


I mean, suggest agency in firm isResult USCIS is a fee-funded agency, so it is essentially kind of running a business and has to cover its expenses with the income that earnings generated. To run this program properly, USCIS requires to staff up in a big means, dealing with the quantity that is currently there and anticipating the increased volume of even more investment as we get also close to fifty percent of the 10,000 visas that are readily available in this group.

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I suggest, that has actually reached seem like a conflicting scenario, and you would envision that it is mosting likely to hold somebody back. Now, I am not claiming that they are holding back, and I understand that they are attempting to staff up since I am sure they think and wish that the program will certainly be reauthorized for the advantage of the Nation.


And is that truly 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 everybody knows whether they can qualify or not and which sort of check here tasks are mosting likely to qualify and so forth? We need that constantly.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once more, a tiny State, yet we have the State federal government involved with the Vermont Regional Facility. Does that include benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional facility administrator, and actually I presume you would call it the owner of the regional facility, has been a significant benefit.