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The law says you have got to invest for 2 years and that is all (EB5 Regional Center Program). Second, at one of the stakeholders meetings put on by USCIS, I asked a concern: Have you done any type of study on just how much cash remains past the 2 years? And the solution was no


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






It is not any simpler always than when it remained in the problems that led to the international financiers being the very best alternative for financing the point in the very first place. However, hey, if it is an effective job, it makes money, and it can be offered, I do not see any reason the project must not have the ability to be sold and for the capitalist to be able to realize the return of his financial investment, maybe obtain on his financial investment, similar to every other financier.


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If you have a job that is funded straight with the Immigrant Investor Program and it is believed to be using undocumented workers, Migration and Traditions Enforcement could explore the company, could they not? Mr. Divine. They could. I imply, I think what we require to recognize additionally is that the situation that is being pointed out as proof that often these projects have actually employed an unapproved worker is one in which USCIS did some sort of monitoring and figured out that the worker was not authorized and stopped it.


Chairman Leahy. But that would certainly coincide with any type of company. Mr. Divine. Each of these employers is called for to complete the I-9 type, but USCIS goes a step better and does a check of some kind that resulted in the instance that has been pointed out. Chairman Leahy. I am not a witness below, but I am so struck by Mr.


I indicate, I recommend that all of you in fact-- Mr. North, in your case, go out from inside the Beltway and go up there and speak with several of these individuals. For something, you do not have as well many illegal aliens that quite have the Vermont accent you hear around there, specifically when they discuss their grandparents that live there, and parents and so forth.


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They will certainly state, "We have obtained about 9 of us below, and we have been right here because 5 o'clock this early morning, Mister." [Giggling.] Chairman Leahy. Not quite what an illegal alien could be claiming. In fact, I assume Mr. Stenger would claim that a person of his British investors was believing, "Are most of us speaking the exact same language below?" Mr.


I asked Mr. Stenger this. Allow me ask you what your experience is as a former firm authorities. What does it do if Congress keeps website meeting a final reauthorization? In this case it would certainly be, I think, September of next year, September of 2012. What does that do to a firm trying to provide a program if Congress waits up until the last couple of days to reauthorize it? What is the practical effect? Mr.


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I imply, the company effectively is-- USCIS is a fee-funded company, so it is essentially type of running a business and has to cover its expenses with the income that is generated. To run this program correctly, USCIS needs to staff up in a large way, handling the volume that is already there and anticipating the enhanced volume of even more investment as we get back at near fifty percent of the 10,000 visas that are available in this category.


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I mean, that has got to really feel like a conflicting circumstance, and you would certainly imagine that it is going to hold somebody back. Now, I am not stating that they are holding back, and I recognize that they are attempting to staff up due to the fact that I make sure they believe and hope that the program will be reauthorized for the benefit of the Nation.


And is that truly where they are going to be able to invest their time and resources in trying to improve the regulations of this program so that everyone recognizes whether they can certify or otherwise and which sort of tasks are mosting likely to certify etc? We require that consistently.


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

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