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The legislation 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 put on by USCIS, I asked an inquiry: Have you done any research study on just how much money remains beyond the 2 years? And the solution was no


Legislator Grassley. Thanks, Mr. Chairman. I wish to have a second round. Chairman Leahy. . Let me simply ask, Mr. Divine, you hear this criticism that the cash just needs to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash gets put into a hotel, as I was starting to discuss earlier, the designer of that project would have to have the ability to find someone to purchase the hotel or would certainly have to have the ability to find someone to refinance it with various other money.

It is not any kind of less complicated necessarily than when it was in the problems that resulted in the international financiers being the most effective alternative for funding the thing in the very first area. Hello, if it is an effective project, it makes cash, and it can be sold, I do not see any reason why the job should not be able to be sold and for the investor to be able to realize the return of his financial investment, maybe obtain on his financial investment, simply like every various other financier.

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If you have a task that is moneyed directly through the Immigrant Investor Program and it is believed to be using undocumented workers, Migration and Traditions Enforcement could investigate the company, could they not? Mr. Divine. They could. I mean, I assume what we require to understand likewise is that the instance that is being cited as proof that occasionally these tasks have employed an unauthorized employee is one in which USCIS did some sort of checking and established that the worker was not accredited and quit it.


Mr. Divine. Every one of these companies is called for to finish the I-9 type, yet USCIS goes a step better and does a check of some kind that led to the situation that has actually been stated. I am not a witness here, yet I am so struck by Mr.

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I mean, I recommend that advise of you actually-- In fact North, in your case, get out from inside the Beltway and go up there and talk with some of these people.

Mr.

I asked Mr. Stenger this. Mr.


I mean, indicate agency in firm isImpact USCIS is a fee-funded agency, so it is essentially kind of running a business and organization to cover its expenses with the income that earnings generated. To run this program correctly, USCIS needs to staff up in a large way, dealing with the volume that is currently there and anticipating the increased volume of even more financial investment as we obtain even close to half of the 10,000 visas that are available in this classification.

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I mean, that has actually reached seem like a contrasting circumstance, and you would certainly more info imagine that it is going to hold somebody back. Currently, I am not stating that they are holding back, and I understand that they are trying to staff up because I am certain they believe and wish that the program will certainly be reauthorized for the advantage of the Nation.


And is that really where they are mosting likely to be able to invest their time and sources in attempting to improve the guidelines of this program to make sure that everyone knows whether they can qualify or otherwise and which sort of projects are going to certify and so forth? We require that constantly.


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