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The legislation states you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings place on by USCIS, I asked a question: Have you done any research on how much money stays beyond the 2 years? And the response was no


Thank you, Mr. Chairman. Allow me simply ask, Mr. Divine, you hear this criticism that the money just has to stay invested for 2 years. Mr. Divine.






It is not any type of much easier always than when it was in the problems that caused the foreign capitalists being the most effective choice for funding the thing to begin with. Yet, hi, if it is a successful task, it earns money, and it can be offered, I do not see any reason that the project ought to not be able to be marketed and for the investor to be able to recognize the return of his investment, possibly gain on his investment, much like every other capitalist.

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If you have a job that is moneyed straight via the Immigrant Investor Program and it is believed to be utilizing undocumented employees, Migration and Customs Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. That would be the exact same with any firm. Mr. Divine. Every one of these employers is needed to complete the I-9 kind, however USCIS goes a step better and does a check of some kind that resulted in the instance that has actually been stated. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I mean, I recommend that all of you actually-- Mr. North, in your instance, go out from inside the Beltway and increase there and talk with a few of these individuals. For one thing, you do not have way too many illegal aliens who quite have the Vermont accent you hear around there, especially when they speak about their grandparents that live there, and parents and more.


They will certainly say, "We have obtained regarding 9 of us below, and we have been below considering that 5 o'clock today, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal alien could be claiming. I believe Mr. Stenger would certainly say that one of his British financiers was assuming, "Are here we all talking the same language below?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a former firm official. What does it do if Congress keeps meeting a last-minute reauthorization? In this case it would certainly be, I assume, September of next year, September of 2012. What does that do to an agency trying to provide a program if Congress waits till the last few days to reauthorize it? What is the functional result? Mr.

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I mean, the agency effectively is-- USCIS is a fee-funded company, so it is essentially kind of running an organization and needs to cover its expenditures with the income that is generated. To run this program correctly, USCIS needs to staff up in a big means, dealing with the quantity that is already there and expecting the enhanced volume of more financial investment as we get back at near fifty percent of the 10,000 visas that are offered in this classification.

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I suggest, that has reached seem like a conflicting situation, and you would picture that it is going to hold somebody back. Currently, I am not saying that they are keeping back, and I understand that they are trying to staff up since I am certain they believe and really hope that the program will certainly be reauthorized for the benefit of the Nation.


And is that actually where they are going to have the ability to spend their time and resources in attempting to clean up the rules of this program so that everyone understands whether they can qualify or not and which sort of jobs are mosting likely to certify etc? We need that continually.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- once more, a little State, however we have the State government involved with the Vermont Regional Center. Does that include benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the local facility administrator, and really I presume you would call it the proprietor of the local facility, has been an incredible advantage.