[Congressional Record Volume 170, Number 115 (Thursday, July 11, 2024)]
[Senate]
[Pages S4662-S4663]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2325. Mr. KING (for himself and Ms. Murkowski) submitted an 
amendment intended to be proposed by him to the bill S. 4638, to 
authorize appropriations for fiscal year 2025 for military activities 
of the Department of Defense, for military construction, and for 
defense activities of the Department of Energy, to prescribe military 
personnel strengths for such fiscal year, and for other purposes; which 
was ordered to lie on the table; as follows:


[[Page S4663]]


  

       At the end of subtitle H of title X, add the following:

     SEC. 1095. NORDIC TRADER AND INVESTOR PARITY.

       (a) Findings.--Congress makes the following findings:
       (1) The United States and Iceland have a long and steady 
     bilateral relationship.
       (2) Diplomatic relations between Iceland and the United 
     States may be traced back to July 7, 1941, on which date 
     members of the United States Armed Forces arrived in Iceland 
     as part of--
       (A) a bilateral defense agreement; and
       (B) Presidential Proclamation 2487, dated May 27, 1941 
     (relating to an unlimited national emergency in the United 
     States).
       (3) On June 17, 1944, the United States was the first 
     country to recognize the independent Republic of Iceland.
       (4) In 1949, Iceland became a founding member of the North 
     Atlantic Treaty Organization.
       (5) On May 5, 1951, the United States and Iceland entered 
     into the bilateral Defense agreement pursuant to the North 
     Atlantic Treaty signed at Reykjavik May 5, 1951 (2 UST 1195; 
     TIAS 2266), which provides for the defense of Iceland.
       (6) The United States is the largest trading partner of 
     Iceland, accounting for approximately 20 percent of Iceland's 
     total trade in goods and services.
       (7) Iceland serves the commercial and trading interests of 
     the United States economy, and Icelandic companies bring 
     investments and jobs to the United States.
       (8) With \1/3\ of all visitors to Iceland arriving from the 
     United States, Iceland is a growing tourist destination for 
     the people of the United States. A visa is not required for 
     United States citizens seeking to visit Iceland.
       (9) Treaty trader visas (commonly referred to as ``E-1 
     visas'') and treaty investor visas (commonly referred to as 
     ``E-2 visas'')--
       (A) were established to facilitate and enhance economic 
     interactions between the United States and other countries; 
     and
       (B) are temporary nonimmigrant visas that may be issued to 
     nationals of a country with which the United States maintains 
     a treaty of friendship, commerce, and navigation.
       (10) An E-1 visa may be issued to an individual seeking to 
     enter the United States for the purpose of engaging in 
     substantial trade. An E-2 visa may be issued to an individual 
     seeking to enter the United States for the purpose of 
     developing and directing the operations of an enterprise in 
     which the individual has invested.
       (11) Eligibility for E-1 and E-2 nonimmigrant visas for 
     citizens and nationals of Iceland is critical to facilitating 
     Icelandic business and investment in the United States, and 
     such eligibility will benefit the economies of both the 
     United States and Iceland.
       (12) Nationals of more than 80 countries are eligible for 
     E-1 or E-2 visas.
       (13) Iceland is the only Nordic partner whose nationals are 
     not eligible for such visas.
       (14) Iceland is 1 of only 3 North Atlantic Treaty 
     Organization member countries whose nationals are not 
     eligible for such visas.
       (15) Iceland is one of very few United States allies whose 
     nationals do not benefit from treaty trader and investor 
     visas. Providing eligibility for such visas to nationals of 
     Iceland would ensure parity between Iceland and other 
     countries with which the United States maintains treaties of 
     friendship, commerce, and navigation.
       (16) Iceland does not place barriers on United States 
     investors or traders wishing to enter the Icelandic market.
       (17) Adding Iceland to the list of countries whose 
     nationals are eligible for E-1 and E-2 nonimmigrant visas 
     would--
       (A) improve the strong relationship between the United 
     States and Iceland; and
       (B) promote and increase investment in the United States by 
     nationals of Iceland.
       (b) Eligibility of Icelandic Traders and Investors for E-1 
     and E-2 Nonimmigrant Visas.--For purposes of clauses (i) and 
     (ii) of section 101(a)(15)(E) of the Immigration and 
     Nationality Act (8 U.S.C. 1101(a)(15)(E)), Iceland shall be 
     considered to be a foreign state under such section if the 
     Government of Iceland provides similar nonimmigrant status to 
     nationals of the United States.
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