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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 conferences place on by USCIS, I asked a concern: Have you done any kind of research on exactly how much money remains beyond the 2 years? And the answer was no


Senator Grassley. Thanks, Mr. Chairman. I would certainly like to have a second round. Chairman Leahy. Certainly. Let me just ask, Mr. Divine, you hear this objection that the cash just has actually to remain 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 designer of that task would have to be able to locate somebody to get the hotel or would need to have the ability to discover somebody to refinance it with various other cash.

It is none easier necessarily than when it was in the problems that resulted in the international investors being the ideal alternative for funding the thing to begin with. Hello, if it is a successful job, it makes cash, and it can be offered, I do not see any type of reason why the task ought to not be able to be sold and for the investor to be able to recognize the return of his financial investment, possibly obtain on his financial investment, just like every various other investor.

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If you have a job that is moneyed directly through the Immigrant Investor Program and it is thought to be utilizing undocumented employees, Migration and Traditions Enforcement could investigate the company, could they not? Mr. Divine.


Mr. Divine. Every one of these companies is required to complete the I-9 kind, however USCIS goes an action even more and does a check of some kind that led to the case that has been stated. I am not a witness right here, but I am so struck by Mr.

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I mean, I recommend that suggest of you actually-- In fact 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, the agency in firm isImpact USCIS is a fee-funded agency, so it is essentially kind of running a business and has to cover its expenses with expenditures income that earnings generated. To run this program properly, USCIS requires to staff up in a huge way, dealing with the quantity that is currently there and anticipating the boosted quantity of more financial investment as we obtain also close to fifty percent of the 10,000 visas that are available in this category.

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I indicate, that has obtained to really feel like a conflicting scenario, and you would certainly visualize 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 trying to staff up because I make certain they think and wish that the program will be EB5 Regional Center Program reauthorized for the benefit of the Country.


And is that actually where they are mosting likely to be able to invest their time and sources in attempting to clear the policies of this program to make sure that everybody understands whether they can qualify or not and which kinds of projects are going to certify etc? We require that continually.


And, Mr. Stenger, we in Vermont-- once more, a little State, but we have the State government entailed with the Vermont Regional. Mr. Stenger.