Sec. 4. Immigrant entrepreneurs
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Chapter 1 of title II of the Immigration and Nationality Act ( 8 U.S.C. 1151 et seq. ) is amended by adding at the end the following: The Secretary of Homeland Security, in accordance with the provisions of this section and section 216A, may issue a conditional immigrant visa to not more than 75,000 qualified alien entrepreneurs. Every alien applying for a conditional immigrant visa under this section shall submit an application to the Secretary of Homeland Security in such form and manner as the Secretary shall prescribe by regulation.
If, during the 4-year period beginning on the date that an alien is granted a visa under this section, the Secretary of Homeland Security determines that such alien is no longer a qualified alien entrepreneur, the Secretary shall— revoke such visa; and notify the alien that the alien— may voluntarily depart from the United States in accordance to section 240B; or will be subject to removal proceedings under section 240 if the alien does not depart from the United States not later than 6 months after receiving such notification.
The Secretary of Homeland Security shall remove the conditional basis of the status of an alien issued an immigrant visa under this section on that date that is 4 years after the date on which such visa was issued if such visa was not revoked pursuant to subsection (c). In this section: The term full-time employee means a United States citizen or legal permanent resident who is paid by the new business entity registered by a qualified alien entrepreneur at a rate that is comparable to the median income of employees in the region.
The term qualified alien entrepreneur means an alien who— at the time the alien applies for an immigrant visa under this section— is lawfully present in the United States; and holds a nonimmigrant visa pursuant to section 101(a)(15)(H)(i)(b); or holds a nonimmigrant visa pursuant to section 101(a)(15)(F)(i); during the 1-year period beginning on the date the alien is granted a visa under this section— registers at least 1 new business entity in a State; employs, at such business entity in the United States, at least 2 full-time employees who are not relatives of the alien; and invests, or raises capital investment of, not less than $100,000 in such business entity; and during the 3-year period beginning on the last day of the 1-year period described in paragraph (2), employs, at such business entity in the United States, an average of at least 5 full-time employees who are not relatives of the alien. .
The table of contents in the first section of the Immigration and Nationality Act ( 8 U.S.C. 1101 et seq. ) is amended by adding after the item relating to section 210 the following: Sec. 210A. Qualified alien entrepreneurs. . Section 216A of the Immigration and Nationality Act ( 8 U.S.C. 1186b ) is amended— by striking Attorney General each place such term appears and inserting Secretary of Homeland Security ; in subsection (b)(1)(C), by striking 203(b)(5), and inserting 203(b)(5) or 210A, as appropriate, ; in subsection (c)(1), by striking alien entrepreneur must each place such term appears and inserting alien entrepreneur shall ; in subsection (d)(1)(B), by striking the period at the end and inserting or 210A, as appropriate. ; and in subsection (f)(1), by striking the period at the end and inserting or 210A. .
Not later than 3 years after the date of the enactment of this Act, the Comptroller General of the United States shall submit to Congress a report on the qualified alien entrepreneurs granted immigrant status under section 210A of the Immigration and Nationality Act, as added by subsection (a). The report described in paragraph
(1)shall include information regarding— the number of qualified alien entrepreneurs who have received immigrant status under section 210A of the Immigration and Nationality Act, as added by subsection (a), listed by country of origin; the localities in which such qualified alien entrepreneurs have initially settled; whether such qualified alien entrepreneurs generally remain in the localities in which they initially settle; the types of commercial enterprises that such qualified alien entrepreneurs have established; and the types and number of jobs created by such qualified alien entrepreneurs.
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