summary
Introduced
09/27/2017
09/27/2017
In Committee
09/27/2017
09/27/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Startup Act This bill amends the Immigration and Nationality Act to authorize the Department of Homeland Security (DHS) to adjust to conditional permanent resident status up to 50,000 aliens who have earned a master's or doctorate degree in a science, technology, engineering, or mathematics (STEM) field and permit such an alien to remain in the United States: (1) for up to one year after the expiration of the alien's student visa if the alien is searching for STEM field employment, and (2) indefinitely if the alien remains actively engaged in a STEM field. DHS may issue conditional immigrant visas to up to 75,000 qualified alien entrepreneurs. The per-country numerical limitation for employment-based visas is removed, and the limitation for family-based immigrants is increased. The Department of Commerce shall: (1) award grants to institutions of higher education to improve the commercialization and transfer of technology, (2) compile information on state laws that affect new business growth, and (3) compile information on new business formation. The Chinese Student Protection Act of 1992 is amended to eliminate the status adjustment reduction of annual Chinese immigrant visas. The Stevenson-Wydler Technology Innovation Act of 1980 is amended to revise the regional innovation program. A federal or independent regulatory agency, before issuing a notice of rulemaking in connection with the issuance of a significant rule (generally, a rule that is likely to have an annual effect on the economy of $100 million or more), shall complete: (1) a review that analyzes the problem that the rule intends to address and its expected impact on state, local, and tribal governments and new businesses; and (2) a cost-benefit analysis.
AI Summary
This bill, the Startup Act, aims to jump-start economic recovery through the formation and growth of new businesses. The key provisions of this bill are:
1. It authorizes the Department of Homeland Security to grant conditional permanent resident status to up to 50,000 immigrants who have earned a master's or doctorate degree in a science, technology, engineering, or mathematics (STEM) field, allowing them to remain in the U.S. for up to one year after their student visa expires to search for STEM employment, and indefinitely if they remain actively engaged in a STEM field.
2. It authorizes the Department of Homeland Security to issue conditional immigrant visas to up to 75,000 qualified alien entrepreneurs who start a new business in the U.S. and meet certain employment and investment requirements.
3. It removes the per-country numerical limitation for employment-based visas and increases the limitation for family-based immigrants.
4. It establishes grant programs through the Department of Commerce to accelerate the commercialization of federally funded research and to support regional innovation initiatives.
5. It requires federal agencies to conduct a review and cost-benefit analysis before issuing significant new regulations.
6. It directs the Department of Commerce to regularly compile and report on data related to new business formation and state laws affecting business growth.
Committee Categories
Justice
Sponsors (4)
Last Action
Read twice and referred to the Committee on the Judiciary. (on 09/27/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/senate-bill/1877/all-info |
| BillText | https://www.congress.gov/115/bills/s1877/BILLS-115s1877is.pdf |
| Bill | https://www.congress.gov/115/bills/s1877/BILLS-115s1877is.pdf.pdf |
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