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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 conferences place on by USCIS, I asked a concern: Have you done any research study on just how much cash remains beyond the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a 2nd round. Chairman Leahy. . Let me just ask, Mr. Divine, you hear this criticism that the money only has to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash gets taken into a hotel, as I was starting to explain earlier, the developer of that project would certainly need to have the ability to locate someone to get the resort or would need to have the ability to discover someone to refinance it with various other cash.

It is none easier always than when it was in the problems that caused the foreign capitalists being the ideal choice for funding the important things to begin with. Hey, if it is an effective task, it makes money, and it can be marketed, I do not see any type of factor why the project must not be able to be marketed and for the investor to be able to understand the return of his investment, perhaps obtain on his investment, just like every other capitalist.

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If you have a job that is funded straight via the Immigrant Capitalist Program and it is believed to be employing undocumented employees, Immigration and Customs Enforcement could investigate the company, could they not? Mr. Divine. They could. I indicate, I believe what we require to recognize also is that the case that is being pointed out as evidence that in some cases these projects have actually employed an unauthorized employee is one in which USCIS did some kind of monitoring and identified that the employee was not licensed and stopped it.


Mr. Divine. Every one of these employers is called for to complete the I-9 form, however USCIS goes an action even more and does a check of some kind that led to the situation that has actually been pointed out. I am not a witness here, yet I am so struck by Mr.

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I mean, I recommend that advise of go to these guys you actually-- Really North, in your case, instance out from inside the Beltway and go up there and talk with some of these people.

Mr.

I asked Mr. Stenger this. Mr.


I mean, suggest agency in effect isImpact USCIS is a fee-funded agency, company it is essentially kind of running a go to this site business and company to cover its expenses with costs income that is generated. To run this program properly, USCIS needs to staff up in a large way, dealing with the volume that is already there and anticipating the increased quantity of more investment as we get even close to fifty percent of the 10,000 visas that are offered in this category.

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I indicate, that has actually obtained to really feel like a conflicting circumstance, and you would certainly envision that it is going to hold someone back. Now, I am not saying that they are keeping back, and I know that they are attempting to staff up due to the fact that I make certain they think and wish that the program will be reauthorized for the benefit of the Nation.


And is that really where they are mosting likely to be able to spend their time and sources in trying to clear up the regulations of this program to make sure that everybody recognizes whether they can qualify or otherwise and which kinds of jobs are going to certify and so forth? explanation We need that continuously.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once again, a little State, however we have the State government involved with the Vermont Regional Facility. Does that add advantages to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the local center manager, and actually I think you would certainly call it the owner of the regional center, has been a remarkable advantage.