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The regulation says you have got to spend 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 study on how much cash remains past the 2 years? And the response was no


Senator Grassley. Thank you, Mr. Chairman. I would like to have a second round. Chairman Leahy. Certainly. Let me simply ask, Mr. Divine, you hear this objection that the cash only has to stay spent for 2 years. Has that been your experience? Mr. Divine. If money gets taken into a hotel, as I was starting to describe earlier, the programmer of that project would have to have the ability to discover someone to acquire the resort or would need to have the ability to locate somebody to re-finance it with other cash.






It is none less complicated always than when it remained in the problems that brought about the international capitalists being the most effective choice for financing the important things to begin with. But, hi, if it is an effective project, it makes money, and it can be offered, I do not see any factor why the project need to not have the ability to be offered and for the capitalist to be able to understand the return of his financial investment, maybe acquire on his investment, similar to every other financier.

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If you have a job that is moneyed directly via the Immigrant Capitalist Program and it is believed to be utilizing undocumented workers, Migration and Traditions Enforcement could examine the employer, could they not? Mr. Divine. They could. I imply, I believe what we need to realize likewise is that the case that is being pointed out as proof that in some cases these projects have employed an unauthorized worker is one in which USCIS did some kind of checking and identified that the worker was not authorized and stopped it.


Chairman Leahy. Yet that would certainly be the very same with any kind of company. Mr. Divine. Every one of these employers is required to complete the I-9 form, however USCIS goes an action better and does a check of some kind that caused the situation that has actually been discussed. Chairman Leahy. I am not a witness here, however I am so struck by Mr.


I mean, I recommend that every one of you actually-- Mr. North, in your case, get out from inside the Beltway and rise there and chat with a few of these people. For something, you do not have too several prohibited immigrants that fairly have the Vermont accent you listen to around there, particularly when they speak about their grandparents that live there, and parents and so on.


They will certainly say, "We have actually obtained concerning 9 of us below, and we have actually been right here given that 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not fairly what an illegal alien may be stating. In fact, I think Mr. Stenger would say that one of his British financiers was assuming, "Are we all talking the very same language below?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a previous firm authorities. What does it do if Congress keeps running up versus a final reauthorization? In this case it would be, I think, September of following year, September of 2012. What does that do to a firm trying to carry out a program if Congress waits up until the last couple of days to reauthorize it? What is the useful impact? Mr.

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I mean, the agency in impact is-- USCIS is a fee-funded company, so it is basically sort of running a company and has to cover its expenditures with the revenue that is generated. To run this program correctly, USCIS requires to staff up in a huge way, handling the volume that is currently there and anticipating the boosted volume of even more financial investment as we get also near to fifty percent of the 10,000 visas that are offered in this group.

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I indicate, that has actually got to seem like a conflicting scenario, and you would envision that it is mosting likely to hold someone back. Currently, I am not stating that they are keeping back, and I know that they are trying to staff up because I am sure they think and hope that the program will be reauthorized for the benefit of the Nation.


And is that actually where they are mosting likely to be able to spend their time and sources in attempting to improve the guidelines of this program to ensure that everyone read more knows whether they can certify or not and which sort of jobs are mosting likely to qualify and so forth? We need that continually.


And, Mr. Stenger, we in Vermont-- once again, a small State, however we have the State government included with the Vermont Regional. Mr. Stenger.