,i #aag? ,,congress #a/ ,session ,h4 ,r4 #dfha ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #bf1 #bjba,ms4 ,l(gr5 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ! ,judici>y ,a ,,bill ,to am5d ! ,immigration & ,nationality ,act to e/abli% a new class ( nonimmigrant visas = entrepr5eurs & ess5tial employees affiliat$ ) />t-up entities1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,let ,immigrants ,kick/>t ,employm5t ,act ( #bjba or ! ,,l ,act4 #b4 ,w visas ,section #aja7;a77#ae7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaja7;a77#ae77 is am5d$-- 7#a7 9 subp>agraph 7,u77iii71 by /rik+ or at ! end2 7#b7 9 subp>agraph 7,v77ii77,,ii71 by /rik+ ! p]iod at ! end & ins]t+ 2 or2 & 7#c7 by add+ at ! end ! foll[+3 7,w7 ,/>t-up entities 7i7 ,entrepr5eurs ,subject to section #bah;,a7a71 an ali5 :o is an entrepr5eur ) an own]%ip int]e/ 9 a />t-up entity4 7ii7 ,employees ,subject to section #bah;,a7b71 an ali5 :o is or w be an ess5tial employee ( a />t-up entity4 7iii7 ,d]ivatives ,subject to section #bah;,a7c71 ! sp\se or *ild ( an ali5 describ$ 9 clause 7i7 or 7ii7 :o is accompany+1 or foll[+ to jo91 ! ali54 4 #c4 ,/>t-up entities2 nonimmigrant entrepr5eurs & employees ,*apt] #b ( title ,,ii ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaha et seq47 is am5d$ by add+ aft] section #bah ! foll[+3 #bah;,a4 ,/>t-up entities2 admission ( nonimmigrant entrepr5eurs & employees 7a7 ,nonimmigrant entrepr5eurs 7#a7 ,9 g5]al ,! ,secret>y %all e/abli% proc$ures = an ali5 to self-petition = classification z a nonimmigrant "u section #aja7;a77#ae77,w77i74 ,/atus "u su* section %all be valid = an initial p]iod ( #c ye>s & may be ext5d$ !reaft] 9 accordance ) ?is subsection4 ,! ,secret>y may approve ! petition ( an ali5 = initial classification z su* a nonimmigrant if ! ,secret>y det]m9es-- 7,a7 ! ali5 possesses an own]%ip int]e/ 9 a />t-up entity ( n less ?an #aj p]c5t2 7,b7 ! ali5 w play a c5tral & active role 9 ! managem5t or op]ations ( ! />t-up entity2 7,c7 ! ali5 possesses ! k1 skills1 or exp]i5ce to sub/antially assi/ ! />t-up entity ) ! gr[? & success ( its bus9ess2 & 7,d7 subject to p>agraph 7#d71 ! />t-up entity1 dur+ ! #ah-mon? p]iod prec$+ ! fil+ ( ! petition1 receiv$-- 7i7 at lea/ #bej1jjj 9 qualify+ inve/m5ts f "o or m qualifi$ inve/ors2 or 7ii7 at lea/ #ajj1jjj 9 qualify+ gov]nm5t aw>ds or grants4 7#b7 #c-ye> ext5sion eligibility crit]ia ,! ,secret>y may approve a petition to ext5d ! /atus ( an ali5 z a nonimmigrant "u section #aja7;a77#ae77,w77i7 = an additional #c-ye> p]iod1 if ! ,secret>y det]m9es-- 7,a7 ! ali5-- 7i7 possesses an own]%ip int]e/ ( n less ?an #e p]c5t 9 ! />t-up entity t =m$ ! basis = ! ali5's initial petition = classification z a nonimmigrant "u section #aja7;a77#ae77,w77i72 & 7ii7 w cont9ue to play a c5tral & active role 9 ! managem5t or op]ations ( ! />t-up entity2 & 7,b7 subject to p>agraph 7#d71 dur+ ! ali5's initial p]iod ( /atus z a nonimmigrant "u section #aja7;a77#ae77,w77i71 ! />t-up entity-- 7i7 receiv$ at lea/ #ejj1jjj 9 additional qualify+ inve/m5ts f "o or m qualifi$ inve/ors1 qualify+ gov]nm5t aw>ds or grants1 or a comb9ation ( su* fund+2 7ii7 creat$ at lea/ #e qualifi$ jobs2 or 7iii7 g5]at$ n less ?an #ejj1jjj 9 annual rev5ue 9 ! ,unit$ ,/ates & av]ag$ #bj p]c5t 9 annual rev5ue gr[?4 7#c7 ,additional ext5sions 9 #a-ye> increm5ts ,) respect to an ali5 ^: /atus z a nonimmigrant "u section #aja7;a77#ae77,w77i7 0 ext5d$ "u p>agraph 7#b71 ! ,secret>y may approve a petition to fur!r ext5d su* /atus 9 #a-ye> increm5ts1 = up to #b ye>s1 if ! ,secret>y det]m9es-- 7,a7 ! ali5-- 7i7 possesses an own]%ip int]e/ 9 ! />t-up entity t =m$ ! basis = ! ali5's initial petition = classification z a nonimmigrant "u section #aja7;a77#ae77,w77i72 & 7ii7 w cont9ue to play a c5tral & active role 9 ! managem5t or op]ations ( ! />t-up entity2 & 7,b7 ! />t-up entity has made sub/antial progress 9 satisfy+ ! requirem5ts "u p>agraphs 7#b7 & 7#c7 ( section #bah;,b7c7 & is reasonably expect$ to satisfy su* requirem5ts )9 ! #a ye> p]iod foll[+ ! expiration ( ! ali5's /atus z a nonimmigrant "u section #aja7;a77#ae77,w77i74 7#d7 ,o!r comp>able evid5ce ,! ,secret>y may grant a petition to classify an ali5 z a nonimmigrant "u section #aja7;a77#ae77,w77i7 if ! />t-up entity p>tially meets "o or m ( ! crit]ia describ$ 9 p>agraphs 7#a77;,d7 or 7#b77;,b7 & ! ,secret>y det]m9es1 bas$ on o!r reliable & compell+ evid5ce1 t ! />t-up entity has sub/antial pot5tial = rapid gr[? & job creation4 7#e7 ,report+ ( mat]ial *anges 7,a7 ,9 g5]al ,an ali5 ) /atus "u section #aja7;a77#ae77,w77i7 %all imm$iately notify ! ,secret>y 9 writ+1 9 accordance ) proc$ures e/abli%$ by ! ,secret>y1 if he or %e w no long] play a c5tral & active role 9 ! managem5t or op]ations ( ! />t-up entity or ceases to possess a qualify+ own]%ip int]e/ 9 ! />t-up entity4 7,b7 ,qualify+ own]%ip int]e/ ,= purposes ( subp>agraph 7,a71 ! ali5 w cease to possess a qualify+ own]%ip int]e/ 9 ! />t-up entity if-- 7i7 dur+ ! initial #c-ye> p]iod ( /atus describ$ "u p>agraph 7#a71 ! ali5's own]%ip int]e/ falls bel[ #e p]c5t2 or 7ii7 dur+ ! p]iods ( /atus describ$ "u p>agraphs 7#b7 or 7#c71 ! ali5 ceases to ma9ta9 any own]%ip int]e/4 7#f7 ,cl>ification ,) respect to an ali5 :o e/abli%es a qualify+ own]%ip int]e/ 9 a />t-up entity & is o!rwise eligible = /atus "u section #aja7;a77#ae77,w77i7 bas$ on su* own]%ip1 ! ,secret>y %all grant ! ali5 su* /atus 9 accordance ) ?is subsection not)/&+ any "t previ\sly sp5t 9 su* /atus ) a diff]5t />t-up entity4 7b7 ,nonimmigrant ess5tial employees 7#a7 ,9 g5]al ,! ,secret>y %all e/abli% proc$ures = a />t-up entity t s]ves z ! basis = an approv$ petition "u subsection 7a7 to file a petition to classify an ali5 z a nonimmigrant "u section #aja7;a77#ae77,w77ii74 ,/atus "u su* section %all be valid = an initial p]iod ( #c ye>s & may be ext5d$ !reaft] 9 accordance ) p>agraph 7#c74 ,! ,secret>y may approve ! petition ( an ali5 = initial classification z su* a nonimmigrant if ! ,secret>y det]m9es ! ali5-- 7,a7 has an (f] f ! />t-up entity = employm5t 9 an executive capacity or manag]ial capacity2 & 7,b7 possesses k1 skills1 or exp]i5ce t are ess5tial to ! gr[? & success ( ! />t-up entity4 7#b7 ,num]ical limitations ,! numb] ( ali5s ) /atus "u section #aja7;a77#ae77,w77ii7 t may be employ$ by a />t-up entity at any "o "t may n exce$-- 7,a7 #b su* ali5s if su* entity has #aj or few] full-"t employees 9 ! ,unit$ ,/ates2 7,b7 #c su* ali5s if su* entity has at lea/ #aa & n m ?an #cj full-"t employees 9 ! ,unit$ ,/ates2 7,c7 #d su* ali5s if su* entity has at lea/ #ca & n m ?an #gj full-"t employees 9 ! ,unit$ ,/ates2 & 7,d7 #e su* ali5s if su* entity has m ?an #gj full-"t employees 9 ! ,unit$ ,/ates4 7#c7 #c-ye> ext5sion ,! ,secret>y may approve a petition to ext5d ! /atus ( an ali5 z a nonimmigrant "u section #aja7;a77#ae77,w77ii7 = an additional #c-ye> p]iod1 if ! ,secret>y det]m9es ! ali5 cont9ues to meet ! crit]ia = initial classification z su* a nonimmigrant describ$ 9 p>agraph 7#a74 7#d7 ,t]m9ation ( eligibility to petition = w-#b nonimmigrants ,a />t-up entity's eligibility to submit new petitions = ali5s "u p>agraph 7#a7 %all t]m9ate on ! date ! />t-up entity no long] s]ves z ! basis = /atus ( nonimmigrants "u section #aja7;a77#ae77,w77i74 7c7 ,sp\ses & *ildr5 7#a7 ,9 g5]al ,! sp\se & *ildr5 accompany+ or foll[+ to jo9 an ali5 ) /atus z a nonimmigrant "u clause 7i7 or 7ii7 ( section #aja7;a77#ae77,w7 %all be entitl$ to classification z nonimmigrants "u clause 7iii7 ( su* section4 7#b7 ,employm5t au?orization ,9 ! case ( an ali5 sp\se ) /atus z a nonimmigrant "u section #aja7;a77#ae77,w77iii71 ! ,secret>y %all au?orize su* sp\se to engage 9 employm5t 9 ! ,unit$ ,/ates & provide ! sp\se ) an employm5t au?oriz$ endorsem5t or o!r appropriate "w p]mit4 7d7 ,t]m9ation ( nonimmigrant /atus 7#a7 ,9 g5]al ,! ,secret>y %all provide writt5 notice ( ! ,secret>y's int5t to t]m9ate /atus "u clause 7i7 or 7ii7 ( section #aja7;a77#ae77,w7 if ! ,secret>y has reasonable gr\nds to believe t-- 7,a7 ! facts or in=mation conta9$ 9 ! petition = su* /atus 7 n true & accurate2 7,b7 ! ali5 fail$ to timely file or o!rwise comply ) ! mat]ial *ange report+ requirem5t 9 subsection 7a77#e71 if applicable2 or 7,c7 ! petition 0 errone\sly grant$4 7#b7 ,notice & decision ,a notice ( int5t to t]m9ate issu$ "u p>agraph 7#a7 %all id5tify ! gr\nds = t]m9ation & provide at lea/ #fj days = ! ali5 to submit rebuttal evid5ce4 7e7 ,grace p]iod ,an ali5 admitt$ or o!rwise provid$ /atus "u section #aja7;a77#ae77,w7 %all be consid]$ to be ma9ta9+ su* /atus = a p]iod ( n less ?an #fj days ^u expiration or t]m9ation ( su* /atus4 7f7 ,dual int5t ,not)/&+ section #bad7;b71 an ali5 may obta9 a visa or be grant$ /atus "u section #aja7;a77#ae77,w7 ev5 if su* ali5 int5ds to seek lawful p]man5t resid5t /atus 9 ! ,unit$ ,/ates4 7g7 ,def9itions ,9 ?is section3 7#a7 ,executive capacity ,! t]m executive capacity has ! mean+ giv5 su* t]m 9 section #aja7;a77#dd77;,b74 7#b7 ,full-"t employee ,! t]m full-"t employee means an individual p]=m+ s]vices 9 a position t requires a m9imum ( #ce work+ h\rs p] week1 & does n include indep5d5t contractors or comb9ations ( "p-"t employees4 7#c7 ,manag]ial capacity ,! t]m manag]ial capacity has ! mean+ giv5 su* t]m 9 section #aja7;a77#dd77;,a74 7#d7 ,qualifi$ inve/or 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b7 & consi/5t ) subp>agraph 7,c71 ! t]m qualifi$ inve/or means-- 7i7 an individual :o is a ,unit$ ,/ates citiz5 or lawful p]man5t resid5t ( ! ,unit$ ,/ates2 or 7ii7 an organization t is locat$ 9 ! ,unit$ ,/ates & op]ates ?r\gh a legal entity t has its pr9cipal place ( bus9ess 9 ! ,unit$ ,/ates1 t is majority own$ & controll$ by ,unit$ ,/ates citiz5s or lawful p]man5t resid5ts ( ! ,unit$ ,/ates1 :i* individual or organization regul>ly makes sub/antial inve/m5ts 9 />t-up entities t subsequ5tly exhibit sub/antial gr[? 9 rev5ue g5]ation or job creation4 7,b7 ,exceptions ,! t]m qualifi$ inve/or does n include an individual or organization t has be5-- 7i7 p]man5tly or tempor>ily enjo9$ f p>ticipat+ 9 ! (f] or sale ( a security or 9 ! provision ( s]vices z an inve/m5t advis]1 brok]1 deal]1 municipal securities deal]1 gov]nm5t securities brok]1 gov]nm5t securities deal]1 bank1 transf] ag5t or cr$it rat+ ag5cy2 7ii7 b>r$ f association ) any entity involv$ 9 ! (f] or sale ( securities or ! provision ( su* s]vices2 or 7iii7 o!rwise f\nd to h p>ticipat$ 9 ! (f] or sale ( securities or ! provision ( su* s]vices 9 violation ( law4 7,c7 ,sub/antial inve/m5t hi/ory ,an individual or organization %all be consid]$ to regul>ly make sub/antial inve/m5ts 9 />t-up entities t subsequ5tly exhibit sub/antial gr[? 9 rev5ue g5]ation or job creation if-- 7i7 dur+ ! prec$+ #e ye>s1 ! individual or organization inve/$ a total ( n less ?an #fjj1jjj 9 />t-up entities 9 ex*ange = equity1 conv]tible debt1 or o!r security conv]tible into equity commonly us$ 9 f9anc+ transactions )9 _! respective indu/ries2 & 7ii7 subsequ5t to su* inve/m5t1 at lea/ #b su* entities ea* creat$ at lea/ #e qualifi$ jobs or g5]at$ at lea/ #ejj1jjj 9 rev5ue ) av]age annualiz$ rev5ue gr[? ( at lea/ #bj p]c5t4 7#e7 ,qualifi$ job ,! t]m qualifi$ job means a job locat$ 9 ! ,unit$ ,/ates t requires a m9imum ( #ce work+ h\rs p] week t has be5 fill$ = at lea/ #a ye> by "o or m qualify+ employees4 7#f7 ,qualify+ employee ,! t]m qualify+ employee means a ,unit$ ,/ates citiz51 a lawful p]man5t resid5t1 or o!r immigrant lawfully au?oriz$ to be employ$ 9 ! ,unit$ ,/ates4 ,su* t]m does n include indep5d5t contractors1 nonimmigrant entrepr5eurs or ess5tial />t-up employees ( ! />t-up entity1 or ! p>5ts1 sp\ses1 bro!rs1 si/]s1 sons1 or daught]s ( su* nonimmigrant entrepr5eurs4 7#g7 ,qualify+ gov]nm5t aw>d or grant ,! t]m qualify+ gov]nm5t aw>d or grant means an aw>d or grant = economic developm5t1 rese>* & developm5t1 or job creation 7or o!r simil> monet>y aw>d typically giv5 to />t-up entities7 made by a ,f$]al1 ,/ate1 or local gov]nm5t entity 7n includ+ =eign gov]nm5t entities7 t regul>ly provides su* aw>ds or grants to />t-up entities4 ,! t]m does n include any contractual commitm5t = goods or s]vices4 7#h7 ,qualify+ inve/m5t 7,a7 ,9 g5]al ,! t]m qualify+ inve/m5t means an inve/m5t ( lawfully d]iv$ capital made 9 good fai? 9 a />t-up entity t is a pur*ase f su* entity ( its equity1 conv]tible debt1 or o!r security conv]tible into its equity t is or becomes commonly us$ 9 f9anc+ transactions )9 su* entity's indu/ry4 7,b7 ,exclusions ,! t]m qualify+ inve/m5t does n include a direct or indirect inve/m5t f ! entrepr5eur1 ! p>5ts1 sp\se1 bro!r1 si/]1 son1 or daught] ( su* entrepr5eur1 or any corporation1 limit$ liability company1 p>tn]%ip1 or o!r entity 9 :i* su* entrepr5eur or ! p>5ts1 sp\se1 bro!r1 si/]1 son1 or daught] ( su* entrepr5eur has any direct or indirect own]%ip int]e/4 7#i7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,homel& ,security4 7#aj7 ,/>t-up entity ,! t]m />t-up entity means a ,unit$ ,/ates bus9ess entity t has lawfully conduct$ bus9ess dur+ any p]iod ( op]ation s9ce its =mation1 & t 0 =m$ )9 ! #e-ye> p]iod imm$iately prec$+ ! date ! ali5 files a petition = classification "u section #aja7;a77#ae77,w77i74 7#aa7 ,unit$ /ates bus9ess entity ,! t]m ,unit$ ,/ates bus9ess entity means any corporation1 limit$ liability company1 p>tn]%ip1 or o!r entity t is organiz$ "u ,f$]al law or ! laws ( any ,/ate1 & t conducts bus9ess 9 ! ,unit$ ,/ates1 t is n an inve/m5t vehicle prim>ily engag$ 9 ! (f]1 pur*ase1 sale or trad+ ( securities1 futures contracts1 d]ivatives or simil> in/rum5ts4 #bah;,b4 ,admission ( immigrant entrepr5eurs 7a7 ,9 g5]al ,! ,secret>y %all e/abli% proc$ures = an ali5 :o is eligible "u subsection 7c7 to self-petition = classification z an immigrant entrepr5eur4 7b7 ,exclusion f num]ical limitations ,an ali5 classifi$ z an immigrant entrepr5eur "u ?is section1 & ! sp\se & *ildr5 ( su* ali51 %all be imm$iately eligible = immigrant visas & su* visas %all n be subject to or c\nt$ aga9/ ! num]ical limitations "u section #bja1 #bjb1 or #bjc4 7c7 ,eligibility crit]ia ,! ,secret>y may approve a petition fil$ by an ali5 = classification z an immigrant entrepr5eur "u ?is section if ! ,secret>y det]m9es-- 7#a7 ! ali5-- 7,a7 is pres5t 9 ! ,unit$ ,/ates & has ma9ta9$ /atus z a nonimmigrant "u section #aja7;a77#ae77,w77i7 or o!r nonimmigrant /atus t =ms ! basis = employm5t ) a />t-up entity 7z su* t]m is def9$ 9 section #bah;,a7g77#aj772 7,b7 has ma9ta9$ an own]%ip int]e/ 9 ! />t-up entity s9ce its =mation2 & 7,c7 plays an active & c5tral role 9 ! managem5t or op]ations ( ! />t-up entity2 7#b7 ! />t-up entity has creat$ at lea/ #aj qualifi$ jobs 7z su* t]m is def9$ 9 section #bah;,a72 & 7#c7 ! />t-up entity has-- 7,a7 rais$ n less ?an a total ( #a1bej1jjj 9 qualify+ inve/m5ts1 qualify+ gov]nm5t grants or aw>ds1 or a comb9ation ( su* fund+2 or 7,b7 g5]at$ n less ?an #a1jjj1jjj 9 annual rev5ue 9 ! ,unit$ ,/ates 9 ! #b-ye> p]iod prec$+ ! fil+ ( ! petition4 7d7 ,immigrant visa process+ or adju/m5t ( /atus ,an ali5 classifi$ z an immigrant entrepr5eur "u ?is section1 & ! sp\se & *ildr5 ( su* ali51 may apply = an immigrant visa 9 accordance ) ! proc$ures describ$ 9 section #bba or = adju/m5t ( /atus "u section #bde if su* individuals are o!rwise eligible = adju/m5t ( /atus4 #bah;,c4 ,inflation adju/m5t2 fees 7a7 ,inflation adju/m5t ,! ,secret>y may adju/ ! monet>y am\nts describ$ 9 p>agraphs 7#a77;,d7 & 7#b77;,b7 ( section #bah;,a7a7 & section #bah;,b7c77#c7 on a bi5nial basis by ! p]c5tage 7if any7 by :i* ! ,consum] ,price ,index = ,all ,urban ,consum]s = ! mon? ( ,june prec$+ ! date on :i* su* adju/m5t takes effect exce$s ! ,consum] ,price ,index = ,all ,urban ,consum]s = ! same mon? ( ! second prec$+ cal5d> ye>4 ,any su* increase %all apply to ali5s fil+ petitions on or aft] ! date on :i* ! increase takes effect4 7b7 ,fees 7#a7 ,9 g5]al ,! ,secret>y may require an ali5 petition+ or apply+ = any b5efit "u section #bah;,a or #bah;,b to pay a reasonable fee t is comm5surate ) ! co/ ( process+ ! petition or application4 7#b7 ,supplem5tal fee = /em s*ol>%ips ,9 addition to any requir$ process+ fee1 ! ,secret>y %all collect a #a1jjj fee 9 connection ) ea* petition = classification z a nonimmigrant "u section #aja7;a77#ae77,w77i7 or z an immigrant "u section #bai;,b4 ,su* funds %all be made available to programs describ$ 9 section #bhf7s77#c74 7#c7 ,premium process+ ,subject to any reasonable conditions1 ! ,secret>y %all e/abli% premium process+ proc$ures = petitions or applications fil$ "u sections #bah;,a & #bah;,b 9 accordance ) section #bhf7u7 & ! ,em]g5cy ,/opgap ,,uscis ,/abilization ,act 7,public ,law ,no4 #aaf-aei1 ,div4 ,d1 ,title ,i74 4 #d4 ,rulemak+ 7a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y1 9 consultation ) ! ,secret>y ( ,/ate & ! ,secret>y ( ,comm]ce1 %all publi% 9 ! ,f$]al ,regi/]1 an int]im f9al rule implem5t+ ! provisions ( ?is ,act4 ,not)/&+ section #eec ( title #e1 ,unit$ ,/ates ,code1 ! rule %all be effective1 on an int]im basis1 imm$iately ^u publication1 b may be subject to *ange & revision aft] public notice & opportunity = comm5t4 ,! ,secret>y %all f9alize su* rule n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is ,act4 7b7 ,designat$ qualifi$ inve/ors ,! rules describ$ 9 subsection 7a7 %all include-- 7#a7 proc$ures = individuals & organizations to reque/ designation z qualifi$ inve/ors 7z su* t]m is def9$ 9 section #bah;,a7g7 ( ! ,immigration & ,nationality ,act72 & 7#b7 /reaml9$ fil+ proc$ures = petitions to classify an ali5 z an nonimmigrant "u section #aja7;,a77#ae77,w77i7 ( ! ,immigration & ,nationality ,act 7#h ,u4,s4,c4 #aaja7;a77#ae77,w77i77 or z an immigrant "u section #bah;,b ( su* ,act bas$ on su* ali5 f\nd+ a />t-up entity t has receiv$ inve/m5t capital f "o or m qualifi$ inve/ors t h be5 designat$ z su* pursuant to ! proc$ures describ$ 9 p>agraph 7#a74