H.R.5193 - StartUp Visa Act of 2010111th Congress (2009-2010)
|Sponsor:||Rep. Maloney, Carolyn B. [D-NY-14] (Introduced 04/29/2010)|
|Committees:||House - Judiciary|
|Latest Action:||06/15/2010 Referred to the Subcommittee on Immigration, Citizenship, Refugees, Border Security, and International Law. (All Actions)|
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Summary: H.R.5193 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (04/29/2010)
StartUp Visa Act of 2010 - Amends the Immigration and Nationality Act to establish an employment-based, conditional immigrant visa (StartUp visa) for a sponsored alien entrepreneur: (1) with required amounts of financial backing from a qualifying investor or venture capitalist; and (2) whose commercial activities will generate required levels of employment, revenue, or capital investment.
Directs the Secretary of Homeland Security (DHS) to terminate the status of a sponsored entrepreneur (and the alien spouse and children of such entrepreneur) if, not later than three years after the date on which such permanent resident status was conferred: (1) the sponsoring venture capitalist or investor failed to meet investment requirements; or (2) the entrepreneur failed to meet job creation, capital investment, or revenue requirements.