[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4681 Introduced in House (IH)]
<DOC>
117th CONGRESS
1st Session
H. R. 4681
To amend the Immigration and Nationality Act to establish a new class
of nonimmigrant visas for entrepreneurs and essential employees
affiliated with start-up entities, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 26, 2021
Ms. Lofgren introduced the following bill; which was referred to the
Committee on the Judiciary
_______________________________________________________________________
A BILL
To amend the Immigration and Nationality Act to establish a new class
of nonimmigrant visas for entrepreneurs and essential employees
affiliated with start-up entities, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Let Immigrants Kickstart Employment
Act of 2021'' or the ``LIKE Act''.
SEC. 2. W VISAS.
Section 101(a)(15) of the Immigration and Nationality Act (8 U.S.C.
1101(a)(15)) is amended--
(1) in subparagraph (U)(iii), by striking ``or'' at the
end;
(2) in subparagraph (V)(ii)(II), by striking the period at
the end and inserting ``; or''; and
(3) by adding at the end the following:
``(W) Start-up entities.--
``(i) Entrepreneurs.--Subject to section
218A(a), an alien who is an entrepreneur with
an ownership interest in a start-up entity.
``(ii) Employees.--Subject to section
218A(b), an alien who is or will be an
essential employee of a start-up entity.
``(iii) Derivatives.--Subject to section
218A(c), the spouse or child of an alien
described in clause (i) or (ii) who is
accompanying, or following to join, the
alien.''.
SEC. 3. START-UP ENTITIES; NONIMMIGRANT ENTREPRENEURS AND EMPLOYEES.
Chapter 2 of title II of the Immigration and Nationality Act (8
U.S.C. 1181 et seq.) is amended by adding after section 218 the
following:
``SEC. 218A. START-UP ENTITIES; ADMISSION OF NONIMMIGRANT ENTREPRENEURS
AND EMPLOYEES.
``(a) Nonimmigrant Entrepreneurs.--
``(1) In general.--The Secretary shall establish procedures
for an alien to self-petition for classification as a
nonimmigrant under section 101(a)(15)(W)(i). Status under such
section shall be valid for an initial period of 3 years and may
be extended thereafter in accordance with this subsection. The
Secretary may approve the petition of an alien for initial
classification as such a nonimmigrant if the Secretary
determines--
``(A) the alien possesses an ownership interest in
a start-up entity of not less than 10 percent;
``(B) the alien will play a central and active role
in the management or operations of the start-up entity;
``(C) the alien possesses the knowledge, skills, or
experience to substantially assist the start-up entity
with the growth and success of its business; and
``(D) subject to paragraph (4), the start-up
entity, during the 18-month period preceding the filing
of the petition, received--
``(i) at least $250,000 in qualifying
investments from one or more qualified
investors; or
``(ii) at least $100,000 in qualifying
government awards or grants.
``(2) 3-year extension eligibility criteria.--The Secretary
may approve a petition to extend the status of an alien as a
nonimmigrant under section 101(a)(15)(W)(i) for an additional
3-year period, if the Secretary determines--
``(A) the alien--
``(i) possesses an ownership interest of
not less than 5 percent in the start-up entity
that formed the basis for the alien's initial
petition for classification as a nonimmigrant
under section 101(a)(15)(W)(i); and
``(ii) will continue to play a central and
active role in the management or operations of
the start-up entity; and
``(B) subject to paragraph (4), during the alien's
initial period of status as a nonimmigrant under
section 101(a)(15)(W)(i), the start-up entity--
``(i) received at least $500,000 in
additional qualifying investments from one or
more qualified investors, qualifying government
awards or grants, or a combination of such
funding;
``(ii) created at least 5 qualified jobs;
or
``(iii) generated not less than $500,000 in
annual revenue in the United States and
averaged 20 percent in annual revenue growth.
``(3) Additional extensions in 1-year increments.--With
respect to an alien whose status as a nonimmigrant under
section 101(a)(15)(W)(i) was extended under paragraph (2), the
Secretary may approve a petition to further extend such status
in 1-year increments, for up to 2 years, if the Secretary
determines--
``(A) the alien--
``(i) possesses an ownership interest in
the start-up entity that formed the basis for
the alien's initial petition for classification
as a nonimmigrant under section
101(a)(15)(W)(i); and
``(ii) will continue to play a central and
active role in the management or operations of
the start-up entity; and
``(B) the start-up entity has made substantial
progress in satisfying the requirements under
paragraphs (2) and (3) of section 218B(c) and is
reasonably expected to satisfy such requirements within
the 1 year period following the expiration of the
alien's status as a nonimmigrant under section
101(a)(15)(W)(i).
``(4) Other comparable evidence.--The Secretary may grant a
petition to classify an alien as a nonimmigrant under section
101(a)(15)(W)(i) if the start-up entity partially meets one or
more of the criteria described in paragraphs (1)(D) or (2)(B)
and the Secretary determines, based on other reliable and
compelling evidence, that the start-up entity has substantial
potential for rapid growth and job creation.
``(5) Reporting of material changes.--
``(A) In general.--An alien with status under
section 101(a)(15)(W)(i) shall immediately notify the
Secretary in writing, in accordance with procedures
established by the Secretary, if he or she will no
longer play a central and active role in the management
or operations of the start-up entity or ceases to
possess a qualifying ownership interest in the start-up
entity.
``(B) Qualifying ownership interest.--For purposes
of subparagraph (A), the alien will cease to possess a
qualifying ownership interest in the start-up entity
if--
``(i) during the initial 3-year period of
status described under paragraph (1), the
alien's ownership interest falls below 5
percent; or
``(ii) during the periods of status
described under paragraphs (2) or (3), the
alien ceases to maintain any ownership
interest.
``(6) Clarification.--With respect to an alien who
establishes a qualifying ownership interest in a start-up
entity and is otherwise eligible for status under section
101(a)(15)(W)(i) based on such ownership, the Secretary shall
grant the alien such status in accordance with this subsection
notwithstanding any time previously spent in such status with a
different start-up entity.
``(b) Nonimmigrant Essential Employees.--
``(1) In general.--The Secretary shall establish procedures
for a start-up entity that serves as the basis for an approved
petition under subsection (a) to file a petition to classify an
alien as a nonimmigrant under section 101(a)(15)(W)(ii). Status
under such section shall be valid for an initial period of 3
years and may be extended thereafter in accordance with
paragraph (3). The Secretary may approve the petition of an
alien for initial classification as such a nonimmigrant if the
Secretary determines the alien--
``(A) has an offer from the start-up entity for
employment in an executive capacity or managerial
capacity; and
``(B) possesses knowledge, skills, or experience
that are essential to the growth and success of the
start-up entity.
``(2) Numerical limitations.--The number of aliens with
status under section 101(a)(15)(W)(ii) that may be employed by
a start-up entity at any one time may not exceed--
``(A) 2 such aliens if such entity has 10 or fewer
full-time employees in the United States;
``(B) 3 such aliens if such entity has at least 11
and not more than 30 full-time employees in the United
States;
``(C) 4 such aliens if such entity has at least 31
and not more than 70 full-time employees in the United
States; and
``(D) 5 such aliens if such entity has more than 70
full-time employees in the United States.
``(3) 3-year extension.--The Secretary may approve a
petition to extend the status of an alien as a nonimmigrant
under section 101(a)(15)(W)(ii) for an additional 3-year
period, if the Secretary determines the alien continues to meet
the criteria for initial classification as such a nonimmigrant
described in paragraph (1).
``(4) Termination of eligibility to petition for w-2
nonimmigrants.--A start-up entity's eligibility to submit new
petitions for aliens under paragraph (1) shall terminate on the
date the start-up entity no longer serves as the basis for
status of nonimmigrants under section 101(a)(15)(W)(i).
``(c) Spouses and Children.--
``(1) In general.--The spouse and children accompanying or
following to join an alien with status as a nonimmigrant under
clause (i) or (ii) of section 101(a)(15)(W) shall be entitled
to classification as nonimmigrants under clause (iii) of such
section.
``(2) Employment authorization.--In the case of an alien
spouse with status as a nonimmigrant under section
101(a)(15)(W)(iii), the Secretary shall authorize such spouse
to engage in employment in the United States and provide the
spouse with an `employment authorized' endorsement or other
appropriate work permit.
``(d) Termination of Nonimmigrant Status.--
``(1) In general.--The Secretary shall provide written
notice of the Secretary's intent to terminate status under
clause (i) or (ii) of section 101(a)(15)(W) if the Secretary
has reasonable grounds to believe that--
``(A) the facts or information contained in the
petition for such status were not true and accurate;
``(B) the alien failed to timely file or otherwise
comply with the material change reporting requirement
in subsection (a)(5), if applicable; or
``(C) the petition was erroneously granted.
``(2) Notice and decision.--A notice of intent to terminate
issued under paragraph (1) shall identify the grounds for
termination and provide at least 60 days for the alien to
submit rebuttal evidence.
``(e) Grace Period.--An alien admitted or otherwise provided status
under section 101(a)(15)(W) shall be considered to be maintaining such
status for a period of not less than 60 days upon expiration or
termination of such status.
``(f) Dual Intent.--Notwithstanding section 214(b), an alien may
obtain a visa or be granted status under section 101(a)(15)(W) even if
such alien intends to seek lawful permanent resident status in the
United States.
``(g) Definitions.--In this section:
``(1) Executive capacity.--The term `executive capacity'
has the meaning given such term in section 101(a)(44)(B).
``(2) Full-time employee.--The term `full-time employee'
means an individual performing services in a position that
requires a minimum of 35 working hours per week, and does not
include independent contractors or combinations of part-time
employees.
``(3) Managerial capacity.--The term `managerial capacity'
has the meaning given such term in section 101(a)(44)(A).
``(4) Qualified investor.--
``(A) In general.--Except as provided in
subparagraph (B) and consistent with subparagraph (C),
the term `qualified investor' means--
``(i) an individual who is a United States
citizen or lawful permanent resident of the
United States; or
``(ii) an organization that is located in
the United States and operates through a legal
entity that has its principal place of business
in the United States, that is majority owned
and controlled by United States citizens or
lawful permanent residents of the United
States,
which individual or organization regularly makes
substantial investments in start-up entities that
subsequently exhibit substantial growth in revenue
generation or job creation.
``(B) Exceptions.--The term `qualified investor'
does not include an individual or organization that has
been--
``(i) permanently or temporarily enjoined
from participating in the offer or sale of a
security or in the provision of services as an
investment adviser, broker, dealer, municipal
securities dealer, government securities
broker, government securities dealer, bank,
transfer agent or credit rating agency;
``(ii) barred from association with any
entity involved in the offer or sale of
securities or the provision of such services;
or
``(iii) otherwise found to have
participated in the offer or sale of securities
or the provision of such services in violation
of law.
``(C) Substantial investment history.--An
individual or organization shall be considered to
regularly make substantial investments in start-up
entities that subsequently exhibit substantial growth
in revenue generation or job creation if--
``(i) during the preceding 5 years, the
individual or organization invested a total of
not less than $600,000 in start-up entities in
exchange for equity, convertible debt, or other
security convertible into equity commonly used
in financing transactions within their
respective industries; and
``(ii) subsequent to such investment, at
least 2 such entities each created at least 5
qualified jobs or generated at least $500,000
in revenue with average annualized revenue
growth of at least 20 percent.
``(5) Qualified job.--The term `qualified job' means a job
located in the United States that requires a minimum of 35
working hours per week that has been filled for at least 1 year
by one or more qualifying employees.
``(6) Qualifying employee.--The term `qualifying employee'
means a United States citizen, a lawful permanent resident, or
other immigrant lawfully authorized to be employed in the
United States. Such term does not include independent
contractors, nonimmigrant entrepreneurs or essential start-up
employees of the start-up entity, or the parents, spouses,
brothers, sisters, sons, or daughters of such nonimmigrant
entrepreneurs.
``(7) Qualifying government award or grant.--The term
`qualifying government award or grant' means an award or grant
for economic development, research and development, or job
creation (or other similar monetary award typically given to
start-up entities) made by a Federal, State, or local
government entity (not including foreign government entities)
that regularly provides such awards or grants to start-up
entities. The term does not include any contractual commitment
for goods or services.
``(8) Qualifying investment.--
``(A) In general.--The term `qualifying investment'
means an investment of lawfully derived capital made in
good faith in a start-up entity that is a purchase from
such entity of its equity, convertible debt, or other
security convertible into its equity that is or becomes
commonly used in financing transactions within such
entity's industry.
``(B) Exclusions.--The term `qualifying investment'
does not include a direct or indirect investment from
the entrepreneur, the parents, spouse, brother, sister,
son, or daughter of such entrepreneur, or any
corporation, limited liability company, partnership, or
other entity in which such entrepreneur or the parents,
spouse, brother, sister, son, or daughter of such
entrepreneur has any direct or indirect ownership
interest.
``(9) Secretary.--The term `Secretary' means the Secretary
of Homeland Security.
``(10) Start-up entity.--The term `start-up entity' means a
United States business entity that has lawfully conducted
business during any period of operation since its formation,
and that was formed within the 5-year period immediately
preceding the date the alien files a petition for
classification under section 101(a)(15)(W)(i).
``(11) United states business entity.--The term `United
States business entity' means any corporation, limited
liability company, partnership, or other entity that is
organized under Federal law or the laws of any State, and that
conducts business in the United States, that is not an
investment vehicle primarily engaged in the offer, purchase,
sale or trading of securities, futures contracts, derivatives
or similar instruments.
``SEC. 218B. ADMISSION OF IMMIGRANT ENTREPRENEURS.
``(a) In General.--The Secretary shall establish procedures for an
alien who is eligible under subsection (c) to self-petition for
classification as an immigrant entrepreneur.
``(b) Exclusion From Numerical Limitations.--An alien classified as
an immigrant entrepreneur under this section, and the spouse and
children of such alien, shall be immediately eligible for immigrant
visas and such visas shall not be subject to or counted against the
numerical limitations under section 201, 202, or 203.
``(c) Eligibility Criteria.--The Secretary may approve a petition
filed by an alien for classification as an immigrant entrepreneur under
this section if the Secretary determines--
``(1) the alien--
``(A) is present in the United States and has
maintained status as a nonimmigrant under section
101(a)(15)(W)(i) or other nonimmigrant status that
forms the basis for employment with a start-up entity
(as such term is defined in section 218A(g)(10));
``(B) has maintained an ownership interest in the
start-up entity since its formation; and
``(C) plays an active and central role in the
management or operations of the start-up entity;
``(2) the start-up entity has created at least 10 qualified
jobs (as such term is defined in section 218A); and
``(3) the start-up entity has--
``(A) raised not less than a total of $1,250,000 in
qualifying investments, qualifying government grants or
awards, or a combination of such funding; or
``(B) generated not less than $1,000,000 in annual
revenue in the United States in the 2-year period
preceding the filing of the petition.
``(d) Immigrant Visa Processing or Adjustment of Status.--An alien
classified as an immigrant entrepreneur under this section, and the
spouse and children of such alien, may apply for an immigrant visa in
accordance with the procedures described in section 221 or for
adjustment of status under section 245 if such individuals are
otherwise eligible for adjustment of status.
``SEC. 218C. INFLATION ADJUSTMENT; FEES.
``(a) Inflation Adjustment.--The Secretary may adjust the monetary
amounts described in paragraphs (1)(D) and (2)(B) of section 218A(a)
and section 218B(c)(3) on a biennial basis by the percentage (if any)
by which the Consumer Price Index for All Urban Consumers for the month
of June preceding the date on which such adjustment takes effect
exceeds the Consumer Price Index for All Urban Consumers for the same
month of the second preceding calendar year. Any such increase shall
apply to aliens filing petitions on or after the date on which the
increase takes effect.
``(b) Fees.--
``(1) In general.--The Secretary may require an alien
petitioning or applying for any benefit under section 218A or
218B to pay a reasonable fee that is commensurate with the cost
of processing the petition or application.
``(2) Supplemental fee for stem scholarships.--In addition
to any required processing fee, the Secretary shall collect a
$1,000 fee in connection with each petition for classification
as a nonimmigrant under section 101(a)(15)(W)(i) or as an
immigrant under section 219B. Such funds shall be made
available to programs described in section 286(s)(3).
``(3) Premium processing.--Subject to any reasonable
conditions, the Secretary shall establish premium processing
procedures for petitions or applications filed under sections
218A and 218B in accordance with section 286(u) and the
Emergency Stopgap USCIS Stabilization Act (Public Law No. 116-
159, Div. D, Title I).''.
SEC. 4. RULEMAKING.
(a) In General.--Not later than 180 days after the date of the
enactment of this Act, the Secretary, in consultation with the
Secretary of State and the Secretary of Commerce, shall publish in the
Federal Register, an interim final rule implementing the provisions of
this Act. Notwithstanding section 553 of title 5, United States Code,
the rule shall be effective, on an interim basis, immediately upon
publication, but may be subject to change and revision after public
notice and opportunity for comment. The Secretary shall finalize such
rule not later than 1 year after the date of the enactment of this Act.
(b) Designated Qualified Investors.--The rules described in
subsection (a) shall include--
(1) procedures for individuals and organizations to request
designation as qualified investors (as such term is defined in
section 218A(g) of the Immigration and Nationality Act); and
(2) streamlined filing procedures for petitions to classify
an alien as an nonimmigrant under section 101(A)(15)(W)(i) of
the Immigration and Nationality Act (8 U.S.C.
1101(a)(15)(W)(i)) or as an immigrant under section 218B of
such Act based on such alien founding a start-up entity that
has received investment capital from one or more qualified
investors that have been designated as such pursuant to the
procedures described in paragraph (1).
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