Public Description:
H.R. 1760, the INVEST in America Act would provide 9,940 new conditional green cards per year for certain qualifying aliens in a field of science, technology, engineering, or mathematics (STEM), who already have an F-1 (student) or H-1B (high skilled worker) visa. Qualifying aliens must have or be working toward a STEM graduate degree, establish and engage in a new commercial enterprise relevant to that STEM degree, and submit a business plan to create at least 5 new full-time jobs for U.S. workers. The conditional LPR status is renewable in 2 1/2 years if the alien created at least 2 full-time jobs and invested at least $200,000 in the new commercial enterprise. After 5 years, the condition can be removed after the creation of at least 5 full-time jobs and an investment of more than $500,000. Those in violation of any condition of the LPR status will have their status terminated. Finally, two GAO studies are requested to study the effects of the new program.
