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The regulation states you have actually got 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 study on just how much cash stays beyond the 2 years? And the solution was no


Legislator Grassley. Thank you, Mr. Chairman. I wish to have a second round. Chairman Leahy. Definitely. Let me just ask, Mr. Divine, you hear this objection that the cash just needs to stay spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a resort, as I was starting to clarify earlier, the developer of that project would certainly need to have the ability to locate someone to purchase the resort or would certainly need to be able to discover somebody to re-finance it with various other cash.






It is not any type of easier necessarily than when it was in the conditions that led to the international investors being the best choice for funding the point to begin with. Hey, if it is a successful task, it makes money, and it can be marketed, I do not see any reason why the task must not be able to be sold and for the financier to be able to recognize the return of his financial investment, maybe obtain on his investment, simply like every various other capitalist.

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If you have a job that is funded directly via the Immigrant Investor Program and it is believed to be employing undocumented employees, Migration and Traditions Enforcement could explore the company, could they not? Mr. Divine. They could. I mean, I assume what we need to recognize additionally is that the instance that is being pointed out as evidence that in some cases these projects have actually employed an unapproved employee is one in which USCIS did some type of checking and established that the employee was not accredited and quit it.


Mr. Divine. Every one of these companies is required to complete the I-9 kind, yet USCIS goes a step additionally and does a check of some kind that led to the situation that has been mentioned. I am not a witness right here, yet I am so struck by Mr.

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I mean, Indicate recommend that suggest of you actually-- Really North, in your case, get out obtain inside the Beltway and go up there and talk with speak of these people.


Mr.


I asked Mr. Stenger this. Mr.


I mean, imply agency in company EB5 Regional Center Program is-- USCIS is a fee-funded agency, so it is essentially kind basically running a business and service to cover its expenses with expenditures income that earnings generated. To run this program appropriately, USCIS requires to staff up in a large means, dealing with the volume that is currently there and anticipating the boosted quantity of even more financial investment as we get also close to fifty percent of the 10,000 visas that are available in this category.

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I imply, that has actually got to seem like a clashing situation, and you would picture that it is mosting likely to hold somebody back. Now, I am not saying that they are holding back, and I know that they are attempting to staff up since I make sure they think and really hope that the program will certainly be reauthorized for the advantage of the Nation.


And is that truly where they are mosting likely to be able to invest their time and resources in trying to clear the rules of this program so that everybody knows whether they can certify or not and which kinds of projects are mosting likely to certify etc? We require that continually.


And, Mr. Stenger, we in Vermont-- again, a little State, yet we have the State federal government entailed with the Vermont Regional. Mr. Stenger.