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The regulation says you have obtained 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 kind of study on how much money remains past the 2 years? And the solution was no


Thank you, Mr. Chairman. Let me just ask, Mr. Divine, you hear this objection that the cash just has to remain spent for 2 years. Mr. Divine.






It is none easier necessarily than when it was in the problems that brought about the international investors being the ideal choice for funding things in the very first location. Hey, if it is an effective project, it makes money, and it can be marketed, I do not see any kind of factor why the project should not be able to be marketed and for the investor to be able to understand the return of his financial investment, maybe gain on his financial investment, simply like every various other capitalist.

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If you have a task that is moneyed directly through the Immigrant Investor Program and it is believed to be employing undocumented employees, Immigration and Customs Enforcement could examine the company, could they not? Mr. Divine. They could. I indicate, I assume what we need to recognize likewise is that the situation that is being cited as proof that sometimes these projects have actually employed an unauthorized worker is one in which USCIS did some sort of monitoring and established that the worker was not licensed and quit it.


Chairman Leahy. Yet that would certainly be the exact same with any type of firm. Mr. Divine. Every one of these companies is required to finish the I-9 type, but USCIS goes a step better and does a check of some kind that resulted in the case that has been mentioned. Chairman Leahy. I am not a witness below, but I am so struck by Mr.


I mean, I suggest that every one of you really-- Mr. North, in your situation, venture out from inside the Beltway and rise there and chat with some of these individuals. For one point, you do not have a lot of illegal aliens who rather have the Vermont accent you hear around there, particularly when they discuss their grandparents who live there, and parents and more.


Mr.


I asked Mr. Stenger this. Mr.


I mean, the agency in firm is-- USCIS is a fee-funded agency, firm it is essentially kind of running a business and organization to cover its expenses with costs income that revenue generated. To run this program properly, USCIS requires to staff up in a big means, dealing with the volume that is image source currently great site there and anticipating the boosted volume of more financial investment as we get also close to half of the 10,000 visas that are offered in this group.

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I mean, that has got to feel like a contrasting scenario, and you would think of that it is mosting likely to hold someone back. Currently, I am not saying that they are holding back, and I understand that they are attempting to staff up due to the fact that I make sure they believe and wish that the program will be reauthorized for the advantage of the Country.


And is that really where they are mosting likely to have the ability to spend their time and sources in trying to clear the regulations of this program to ensure i thought about this that everyone recognizes whether they can certify or not and which kinds of projects are going to qualify and so forth? We require that constantly.


And, Mr. Stenger, we in Vermont-- once again, a little State, but we have the State government entailed with the Vermont Regional. Does that include advantages to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional center administrator, and in fact I presume you would call it the owner of the local facility, has actually been an incredible benefit.