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The regulation says you have obtained 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 type of research study on just how much cash remains beyond the 2 years? And the response was no


Legislator Grassley. Thanks, Mr. Chairman. I would certainly such as to have a 2nd round. Chairman Leahy. . Allow me just ask, Mr. Divine, you hear this criticism that the cash only has to remain spent for 2 years. Has that been your experience? Mr. Divine. If cash obtains taken into a resort, as I was beginning to describe earlier, the designer of that job would have to be able to find somebody to buy the resort or would certainly need to be able to discover somebody to refinance it with various other money.

It is not any kind of simpler always than when it remained in the problems that caused the foreign investors being the most effective alternative for financing things in the first area. But, hi, if it is a successful task, it makes money, and it can be marketed, I do not see any factor why the project must not be able to be offered and for the capitalist to be able to understand the return of his investment, possibly acquire on his investment, much like every other financier.

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


Chairman Leahy. That would certainly be the same with any company. Mr. Divine. Each of these employers is required to complete the I-9 type, yet USCIS goes an action even more 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 suggest that every one of you actually-- Mr. North, in your case, venture out from inside the Beltway and go up there and speak with a few of these people. For something, you do not have a lot of unlawful immigrants who fairly have the Vermont accent you listen to around there, particularly when they discuss their grandparents who live there, and moms and dads and so forth.

Mr.

I asked Mr. Stenger this. Mr.


I mean, imply agency in effect is-- USCIS is a fee-funded agency, so it is essentially kind basically running a business and service to her latest blog cover its expenses with the income that earnings generated. To run this program correctly, USCIS needs to staff up in a large method, dealing with the quantity that is already there and preparing for 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 classification.

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I mean, that has actually obtained to seem like a conflicting situation, and you would certainly think of that it is mosting likely to hold somebody back. Currently, I am not stating that they are keeping back, and I understand that they are attempting to staff up due to the fact that I make certain they believe and hope that the program will be reauthorized for the benefit of the Nation.


And is that truly where they are mosting likely to have the ability to spend their time and resources in trying to clear the regulations of this program so that everybody understands whether they can certify or otherwise and which kinds of projects are going to qualify and so forth? We require that consistently.


And, Mr. Stenger, we in Vermont-- once Recommended Site again, a little State, yet we have the State government involved with the Vermont Regional. Does that add benefits to Vermont's program? Mr. Stenger. The truth that the State of Vermont is the local facility administrator, and in fact I think you would certainly call it the proprietor of the local facility, has actually been Your Domain Name a remarkable benefit.