In a rural State like Vermont. which depends heavily on tourism and its natural resources. the Regional Center program has been instrumental in supporting projects that take advantage of Vermonts natural beauty and outdoor recreation opportunities. In addition to making the Regional Center program permanent. the bill also makes a number of other improvements to ensure its efficiency and to accommodate expected expansion. The bill provides a premium processing option for potential investors. allowing expedited processing for an additional fee to USCIS. as well as concurrent processing of a potential investors application for designation as an immigrant investor and his or her adjustment of status application to obtain conditional permanent residency. Finally. the bill creates a $2.500 fee for those domestic entities applying for Regional Center status. and directs USCIS to reinvest this additional revenue back into the Regional Center program to allow the agency to accommodate future growth in the program. Because the pilot program is set to expire in 2008. potential investors are feeling a chill stemming from uncertainty about the Regional Center Programs future. Permanently authorizing this program will create certainty and predictability for potential investors interested in the numerous projects currently in development across the country.
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immigrant USCIS