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But the law claims you have got to spend for 2 years and that is all. Second, at one of the stakeholders conferences place on by USCIS, I asked a concern: Have you done any kind of research study on exactly how much cash remains beyond the 2 years? And the solution was no


Thank you, Mr. Chairman. Let me simply ask, Mr. Divine, you hear this objection that the money only has to remain spent for 2 years. Mr. Divine.






It is not any kind of simpler always than when it remained in the conditions that led to the international financiers being the most effective alternative for financing the point to begin with. Hello, if it is an effective project, it makes money, and it can be marketed, I do not see any factor why the project must not be able to be marketed and for the investor to be able to recognize the return of his financial investment, perhaps obtain on his investment, just like every various other investor.

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If you have a task that is funded straight through the Immigrant Investor Program and it is thought to be utilizing undocumented workers, Immigration and Customs Enforcement could explore the employer, could they not? Mr. Divine.


Chairman Leahy. That would be the same with any type of company. Mr. Divine. Each of these companies is required to complete the I-9 kind, but USCIS goes an action further and does a check of some kind that resulted in the case that has actually been mentioned. Chairman Leahy. I am not a witness right here, yet I am so struck by Mr.


I suggest, I recommend that every one of you in fact-- Mr. North, in your case, venture out from inside the Beltway and rise there and speak with several of these individuals. For something, you do not have also many unlawful immigrants that quite have the Vermont accent you hear around there, particularly when they chat about their grandparents who live there, and moms and dads and more.


They will certainly say, "We have actually obtained about 9 of us below, and we have been below considering that 5 o'clock this morning, Mister." [Giggling.] Chairman Leahy. Not rather what an illegal immigrant may be saying. I believe Mr. Stenger would certainly say that one of his British investors was assuming, "Are we all speaking the exact same language below?" 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 final reauthorization? In this case it would be, I believe, September of following year, September of 2012. What does that do to a company attempting to administer 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 indicate, the company basically is-- USCIS is a fee-funded agency, so it is essentially type of running a business and has to cover its expenses with the income that is click here created. To run this program appropriately, USCIS requires to staff up in a huge method, managing the quantity that is currently there and anticipating the enhanced quantity of more investment as we get also near half of the 10,000 visas that are available in this classification.

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I imply, that has actually reached seem like a conflicting scenario, and you would envision that it is mosting likely to hold someone back. Currently, I am not saying that they are holding back, and I recognize that they are trying to staff up since I make certain they think and really hope that the program will certainly be reauthorized for the advantage of the Nation.


And is that really where they are going to be able to invest their time and resources in trying to clean up the policies of this program so that everybody understands whether they can qualify or not and which kinds of projects are going to qualify etc? We require that consistently.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- again, a small State, but we have the State government involved with the Vermont Regional Center. Does that add advantages to Vermont's program? Mr. Stenger. The reality that the State of Vermont is the local facility administrator, and really I guess you would call it the proprietor of the local facility, has actually been a tremendous advantage.