S.565 - StartUp Visa Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. Kerry, John F. [D-MA] (Introduced 03/14/2011)|
|Committees:||Senate - Judiciary|
|Latest Action:||03/14/2011 Read twice and referred to the Committee on the Judiciary. (All Actions)|
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Summary: S.565 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in Senate (03/14/2011)
StartUp Visa Act of 2011 - 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, government entity, 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 fails to meet investment requirements; or (2) the entrepreneur fails to meet job creation, capital investment, or revenue requirements.