Bill > HR3221

This bill, known as the Iceland Commercial and Economic Leadership for Arctic and National Development Act (or the ICELAND Act), aims to add Iceland to the list of countries whose nationals can be admitted to the United States as E1 and E2 nonimmigrants, contingent upon the Government of Iceland providing reciprocal treatment to U.S. nationals. E1 and E2 nonimmigrant visas are special classifications for treaty traders and investors, respectively, which allow individuals from certain countries to enter the U.S. to engage in substantial trade or invest significant capital in a U.S. business. The bill specifically modifies section 101(a)(15)(E) of the Immigration and Nationality Act to include Iceland, but only if Iceland extends similar nonimmigrant status to U.S. nationals. This provision is designed to create a mutually beneficial arrangement that promotes commercial and economic exchange between the United States and Iceland.

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https://www.congress.gov/bill/119th-congress/house-bill/3221/all-info