U.S. Sen. Mike Rounds said Thursday that the federal government is right in exercising its oversight of an investment-for-visa program pioneered in South Dakota when he was governor.
His comments came in response to questions about a federal notice that the state's participation in the EB-5 visa program, which allows wealthy foreigners to invest in projects in exchange for green cards, could be terminated.
U.S. Citizenship and Immigration Services determined that South Dakota's regional center for the program isn't promoting economic growth and said administrators have failed to submit required information to the agency, according to a late September notification.
Rounds said Thursday during a conference call with reporters that he hasn't seen the notice, but he believes the concerns raised in the report occurred when the regional center was run by a private firm or after he left the governor's office in 2011.
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