Immigrant visas for Entrepreneurs and Job Creators

(a)

Aliens who are members of the professions holding advanced degrees

Section 203(b)(2)(B) of the Immigration and Nationality Act (8 U.S.C. 1153(b)(2)(B)) is amended— (1)by striking (B) (i) Subject to clause (ii) and inserting the following: (B) National Interest Waivers.—

(i)

In general

Subject to clauses (ii) and (iii)

;

(2)in clause (ii)— (A)by striking (ii) (I) The Attorney General and inserting the following: (ii) Physicians working in shortage areas or veterans facilities.—

(I)

In general

The Secretary of Homeland Security

;

(B)in subclause (II), by striking (II) No permanent resident visa and inserting the following: (II) Prohibition.—No permanent resident visa; (C)in subclause (III), by striking (III) Nothing in this subparagraph and inserting the following: (III) Statutory construction.—Nothing in this subparagraph; and (D)in subclause (IV), by striking (IV) The requirements of and inserting the following: (IV) Effective date.—The requirements of; and (3)by inserting after clause (ii) the following:

(iii)

Entrepreneurs and job creators

The Secretary of Homeland Security shall grant a national interest waiver pursuant to clause (i) on behalf of any alien entrepreneur with respect to whom a petition for preference classification has been filed under subparagraph (A) if— (I)the alien has engaged in a new commercial enterprise (including a limited partnership or similar entity) in the United States; and (II)such enterprise has benefitted the United States economy and satisfied the employment creation requirements described in section 204(m).

(b)

Skilled workers, professionals, and other workers

Section 203(b)(3) of the Immigration and Nationality Act (8 U.S.C. 1153(b)(3)) is amended by inserting after subparagraph (C) the following:

(D)

National interest waiver for entrepreneurs and job creators

The Secretary of Homeland Security shall waive application of subparagraph (C) on behalf of any alien entrepreneur with respect to whom a petition for preference classification has been filed under subparagraph (A) if— (i)the alien has engaged in a new commercial enterprise (including a limited partnership or similar entity) in the United States; and (ii)such enterprise has benefitted the United States economy and satisfied the employment creation requirements described in section 204(m).

(c)

Requirements

(1)

In general

Section 204 of the Immigration and Nationality Act is amended by adding at the end the following:

(m)

Entrepreneurs and job creators

(1)

Job creation requirements

For purposes of sections 203(b)(2)(B) and 203(b)(3)(D), a new commercial enterprise shall be deemed to have benefitted the United States economy and satisfied the employment creation requirements of this subsection if the enterprise— (A)has, during the period beginning 4 years prior to the date that a petition for preference classification with respect to the alien has been filed under subparagraph (A), created direct, full-time employment— (i)for not less than 5 United States workers; or (ii)in the case of an enterprise in a Distressed Area Development Zone, for not less than 3 United States workers; and (B)the enterprise has received enough investment or revenue during the period described in subparagraph (A) to support the employment creation requirements described in such subparagraph. (2)

Definitions

For purposes of sections 203(b)(2)(B) and 203(b)(3)(D): (A)

Full-time employment

The term full-time employment means employment in a position that requires at least 35 hours of service per week at any time, regardless of who fills the position. Such employment may be satisfied on a full-time equivalent basis by calculating the number of full-time employees that could have been employed if the reported number of hours worked by part-time employees had been worked by full-time employees. Full-time equivalent employment shall be calculated by dividing the part-time hours paid by the standard number of hours for full-time employees. (B)

Investment or revenue

The term investment or revenue does not include any assets acquired, directly or indirectly, by unlawful means. The term investment includes assets provided by the alien entrepreneur and may include assets, including venture capital investments, provided pursuant to an investment agreement with investors who are United States citizens or aliens lawfully admitted to the United States for permanent residence. (C)

United states worker

The term United States worker means an employee (other than the immigrant or the immigrant’s spouse, sons, or daughters) who— (i)is a citizen or national of the United States; or (ii)is an alien who is lawfully admitted for permanent residence, is admitted as a refugee under section 207, is granted asylum under section 208, or is an immigrant otherwise authorized to be employed in the United States. (3)

Priority date

The priority date for any alien who is adjusting status from any nonimmigrant classification described in section 101(a)(15) and who receives a national interest waiver under section 203(b)(2)(B) or 203(b)(3)(D) shall be the date of the first petition or application for status under section 101(a)(15) filed with respect to that alien.

(2)

Distressed area development zones

Section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a)) is amended by adding at the end the following:

(53)The term Distressed Area Development Zone means— (A)a low-income geographic area, as such term is defined in section 351 of the Small Business Investment Act of 1958 (15 U.S.C. 689); or (B)a city or county in the United States— (i)that has experienced high unemployment (of not less than 150 percent of the national average, as determined by the Secretary of Labor) within the preceding 24 months; or (ii)has had a 20 percent or more decrease in population since 1970.

(d)

Conforming amendments

(1)Section 203 of the Immigration and Nationality Act is amended by striking Attorney General each place such term appears and inserting Secretary of Homeland Security. (2)Section 204(a)(1)(E) of the Immigration and Nationality Act is amended by inserting or under paragraph (2) or (3) of section 203(b) if such alien is seeking a national interest waiver under section 203(b)(2)(B) or 203(b)(3)(D), after 203(b)(1)(A).