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Yet the regulation says you have actually reached invest for 2 years and that is all. Second, at one of the stakeholders conferences put on by USCIS, I asked an inquiry: Have you done any kind of study on exactly how much money remains past the 2 years? And the answer was no

Legislator Grassley. Thank you, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Definitely. Let me simply ask, Mr. Divine, you hear this objection that the cash only has to remain invested for 2 years. Has that been your experience? Mr. Divine. If cash gets taken into a hotel, as I was beginning to explain earlier, the designer of that project would certainly need to be able to locate someone to buy the resort or would certainly have to be able to discover someone to re-finance it with various other money.




It is not any kind of easier necessarily than when it remained in the conditions that brought about the international capitalists being the very best option for funding the thing to begin with. Hey, if it is an effective job, it makes money, and it can be marketed, I do not see any factor why the task must not be able to be marketed and for the capitalist to be able to realize the return of his investment, maybe get on his financial investment, just like every various other financier.

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

Mr. Divine. Every one of these employers is needed to finish the I-9 kind, yet USCIS goes an action better and does a check of some kind that led to the instance that has actually been pointed out. I am not a witness below, yet I am so struck by Mr.

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

They will certainly claim, "We have obtained concerning nine people right here, and we have been below considering that 5 o'clock this early morning, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal alien could be saying. Actually, I assume Mr. Stenger would certainly state that one of his British capitalists was believing, "Are we all speaking the same language right here?" Mr.

I asked Mr. Stenger this. Let me ask you what your experience is as a former firm authorities. What does it do if Congress maintains running up against a last-minute reauthorization? In this instance it would certainly be, I believe, September of following year, September of 2012. What does that do to a company attempting to provide a program if Congress waits up until the last couple of days to reauthorize it? What is the practical impact? Mr.

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I indicate, the agency in result is-- USCIS is a fee-funded company, so it is essentially kind of running a company and needs to cover its costs with the income that is produced. To run this program appropriately, USCIS requires to staff up in a large way, dealing with the quantity that is currently there and expecting the enhanced quantity of even more financial investment as we get also close to fifty percent of the 10,000 visas that are available in this group.

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I imply, that has got to feel like a contrasting circumstance, and you would certainly visualize that it is mosting likely to hold somebody back. Currently, I am not stating that they are keeping back, and I recognize that they are trying to staff up because I make certain they believe and really hope that the program will certainly be reauthorized for the advantage of the Country.

And is that actually where they are mosting likely to have the ability to invest their time and resources in trying to clean up the regulations of this program to make sure that everyone understands whether they can qualify or not and which kinds of jobs are going to qualify and so forth? We need that continually.

And, Mr. Stenger, we in Vermont-- again, a tiny State, yet we have the State federal government included with the Vermont Regional. Does that add advantages to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the regional center administrator, and actually I think you would certainly call it the proprietor of the regional facility, has actually been a significant benefit.

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