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The regulation claims 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 a question: Have you done any study on just how much money remains past the 2 years? And the answer was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a second round. Chairman Leahy. . Let me simply ask, Mr. Divine, you hear this objection that the money just has to continue to be spent for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a hotel, as I was starting to explain earlier, the designer of that project would need to be able to find someone to buy the resort or would certainly need to be able to locate someone to refinance it with other money.

It is none less complicated always than when it remained in the problems that brought about the foreign investors being the finest choice for financing things to begin with. Hello, if it is a successful job, it makes money, and it can be marketed, I do not see any kind of factor why the task should not be able to be marketed and for the capitalist to be able to recognize the return of his financial investment, perhaps acquire on his investment, simply like every other investor.

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If you have a project that is moneyed directly through the Immigrant Financier Program and it is thought to be using undocumented employees, Migration and Customs Enforcement could examine the company, could they not? Mr. Divine. They could. I mean, I think what we need to understand also is that the case that is being mentioned as proof that sometimes these jobs have worked with an unauthorized worker is one in which USCIS did some type of monitoring and identified that the employee was not licensed and stopped it.


Chairman Leahy. That would be the exact same with any kind of firm. Mr. Divine. Every one of these companies is needed to complete the I-9 form, yet USCIS goes an action better and does a check of some kind that led to the situation that has actually been discussed. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I mean, I recommend that every one of you really-- Mr. North, in your situation, go out from inside the Beltway and increase there and talk with several of these individuals. For something, you do not have way too many illegal immigrants who fairly have the Vermont accent you hear around there, particularly when they discuss their grandparents that live there, and parents and more.

They will certainly say, "We have actually obtained regarding 9 people right here, and we have actually been here since 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not fairly what an illegal alien could be saying. As a matter of fact, I assume Mr. Stenger would certainly say that a person of his British financiers was assuming, "Are most of us speaking the very same language right here?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former company here official. What does it do if Congress keeps tasting a final reauthorization? In this situation it would certainly be, I think, September of next year, September of 2012. What does that do to an agency trying to administer a program if Congress waits until the last few days to reauthorize it? What is the functional effect? Mr.

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I imply, the firm basically is-- USCIS is a fee-funded firm, so it is essentially sort of running a service and needs to cover its expenses with the income that is produced. To run this program properly, USCIS needs to staff up in a huge means, taking care of the volume that is already there and expecting the boosted volume of even more financial investment as we get back at near to fifty percent of the 10,000 visas that are offered in this classification.

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I imply, that has got to feel like a clashing circumstance, and you would picture that it is mosting likely to hold someone back. Currently, I am not saying that they are keeping back, and I recognize that they are attempting to staff up due to the fact that I make sure they believe and really hope that the program will be reauthorized for the benefit of the Nation.


And is that actually where they are going to be able to spend their time and sources in attempting to clear the rules of this program to ensure that everybody recognizes whether they can qualify or not and which kinds of jobs are mosting likely to certify and so forth? We require that continually.


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